Until now, Sterling is still a negative sentiment, so it can be said that the fundamentals are still bad Sterling. Technical trends are still apparent in bearish, however currently there is no indication bit oversold.
Although the BoE (Bank of England) at a meeting of the MPC (Monetary Policy Committee) had not changed its policy, market sentiment is still quite negative. The inflation rate in England was still depressed and consumption levels are still too weak, so many opportunities that are still anticipating a budget increase that BoE buying assets currently stand at £ 200 billion figure.
GBP / USD rose to a level likely to 1.5045 if past resistance at 1.5010 level. The weakening of sterling could continue if the past level of support at 1.4940 to the 1.4900 level.
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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.
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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.
]]>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.
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