9 Jun 2010

With 2 bank holiday today, its seem the market maybe not volatile but, in forex anything can happen in a few second.

Canada and US bank holiday today.

- Alert GBP have a bad news today, the movement more likely are DT following FA but with EURO and AUD still stay on the current price, the GBP movement still cannot predicted. From last week 2 time GBP get bad news and moving down heavily but get stop when EURO and AUD not follow then GBP follow the EURO and AUD trend moving up. Just my 2 cents.

EURO/GBP look like heavily on GBP, E/G moving UT smoothly.

Source - http://www.forexlive.com/129927/all/uk-august-car-sales-fell-17-5-yy-smmt

UK August Car Registrations Fell 17.5% Y/Y – SMMT

Second consecutive monthly fall. The Society of Motor Manufacturers and Traders (SMMT) says market will remain tough for the rest of the year.

Elsewhere gilts higher, 10-year yield below 3% at 2.97%. So much for all that clap-trap about sharply higher interest rates.

**GBP/USD down heavily. Congratulation who already get the pip on this move.