Euro Tend Sideways, To Monitor Greece Bailout Issue

In currency trading the European session today (09-03), seems the Euro experienced a slight weakening against the U.S. Dollar. Pair EUR / USD is now moving in the range of 1.3600.

Currently investors still seem less inclined to trade the Euro currency. The situation is still not entirely clear about this bailout while Greece may still be inclined to make the Euro moving flats, while waiting for further developments.

Actually lately, the issues surrounding the bailout of Greece was quite positive. Example is the French who declared that they were ready to help if Greece to cut its deficit problem. But if you look at price movements, the market was not impressed with the positive issues today. Personally, I see that maybe the European zone leaders trying to prevent further weakening of the Euro and maintain its credibility. For the euro to rebound and skyrocketed, seems necessary solutions and real action, not just mere plans.

Sterling Weakened, Bearish trend likely to Continue

In currency trading the Asian session today (09-03), visible through Sterling currency weakening against the U.S. Dollar. Pair GBP / USD when it moves to 1.5000 range.

Previously, this morning has been released several British economic data period in February 2010. BRC Retail Sales Monitor recorded 2.2% increase compared to previous periods of declining 0.7%. Meanwhile, RICS House Price Balance recorded increased by 17%, but the increase was far below than that predicted by 34%.

The technical, Sterling has turned the direction of the resistance in the range 1,5180-1,5200. So the bearish trend continued and perhaps the opportunity to penetrate the low in the range of 1.4800 to a range 1,4500-1,4600. But must remain vigilant, Sterling was approaching oversold levels so that higher corrections might still be necessary for Sterling. If the level of resistance through 1,5180-1,5200, may be able to test the next resistance at 1,5300-1,5400 range.

Yen Strengthened, Asian Stock Looks Depressed

In currency trading the Asian session today (09-03), see Yen strengthened slightly against the U.S. Dollar. Pair EUR / JPY currently moving in the range of 90.00.

Seemed to happen strengthening yen as the depressed stock market in Asia. Issues regarding the level of demand for commodities will decline due to monetary tightening in China seems to weaken the commodity stocks. Yen currency trading while it will remain strong aversion to risk factors.

The yen is estimated movement would still be in a fairly limited range. Technical, USD / JPY is still in the bearish trend, let alone the prospect of a global stock market still looks brilliant. But the strengthening yen will also be too much hampered by speculation that the BoJ (Bank of Japan) will inject additional funds into the Japanese economy. 88.00 The range is still a strong support.

USD / JPY likely to weaken to as low as 89.30 if past support in the 89.80 level. Strengthening U.S. Dollar against the Yen may occur if the resistance through the 90.35 level to the 90.85 level.

Sterling Strengthened, Trends Remain Bearish

In currency trading the Asian session today (08-03), see Sterling currency has strengthened against the U.S. Dollar. Pair GBP / USD when it moves to 1.5180 range.

Generally, Sterling currency trend is still bearish. But while this first opportunity to consolidate after a fall to the lowest level last 10 months. BoE (Bank of England) until now still maintain interest rates at 0.50% level of spending programs and assets of £ 200 billion.

UK economic recovery is still fragile accompanied by still many uncertainties in the global economy. The deficit is still large and the labor market is also weak, so the BoE (Bank of England) is estimated to still have the potential to increase the spending programs of its assets if the economic recovery was delayed.

English Consumer pessimism Reduced little, Few Pounds Sterling Up

In the pair trading GBP / USD today’s Asian session (26-02) observed moving Pounds Sterling rose against the U.S. dollar and are in the range of 1.5280.

Poundsterling demand back forex investors,  along with a signal which indicates an increase in consumer confidence levels of the British state.

Indicator GfK Consumer Confidence rose to -14 reported previously estimated to remain from the previous value of -17. This positive response by investors in forex trading.

The latest information about GfK Consumer Confidence indicators has just been released by GfK NOP showed an increase in consumer confidence survey of 2000 consumers. Though still in negative territory indicating pessimism British consumers, but the indicators are showing decline in UK consumer pessimism.

Pounds in the currency pair GBP / USD is expected to still be slightly strengthened. Movements pound sterling is expected to face resistance at the 1.5299 range.

Positive response Bernanke’s testimony, the U.S. Dollar rebounds Against Yen

In trading pair USD/JPY ASIA session today (26-02) observed Japanese Yen weakened the pull back of U.S. Dollar and are in the range of 89.40.

Pressure Japanese Yen against the U.S. dollar today as the reduced slightly the market response to the testimony to the leadership of the Fed Ben Bernanke.

Testimonials led the Fed in monetary policy report before the Committee Banking, Housing and Urban Affairs United States Senate is a positive response as an appreciation of the forex market on monetary policy institutions.

Although indicators reported Unemployment Claims 496K increase to previously expected to fall to 461K from 474K the previous value. However, the market is not too negative response because of deteriorating labor sector, the U.S. has led the Federal Reserve delivered yesterday, so the market has been anticipating it.