Trading Articles

Forex - GBP/USD gains on U.K. retail sales, Bernanke comments weigh

Investing.com – The pound moved higher against the dollar on Thursday after U.K. retail sales beat expectations, though reassuring words from Federal Reserve Chairman Ben Bernanke that stimulus measures will end eventually but will not usher in an era of monetary tightening bolstered the dollar and capped Cable's gains.

In U.S. trading on Thursday, GBP/USD was trading at 1.5217, up 0.03%, up from a session low of 1.5158 and off from a high of 1.5242.

Cable was likely to find support at 1.5028, Monday's low, and resistance at 1.5268, Wednesday's high.

Gold inches lower in Asia after U.S. loss

Investing.com – Gold futures traded slightly lower in the early part of Thursday’s Asian session after taking another Federal Reserve-induced tumble during Wednesday’s U.S. session. 

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery inched down 0.07% to USD1,276.55 per troy ounce in Asian trading Thursday after trading lower by more than 1% during U.S. trade Wednesday. 

Forex - Dollar up sharply as traders eye Bernanke testimony

Investing.com – The U.S. dollar soared against its major rivals during Wednesday’s Asian in what may be a sign that traders are betting Federal Reserve Chairman Ben Bernanke will make comments that boost the greenback when he delivers congressional testimony later Wednesday. 

In Asian trading Wednesday, EUR/USD dropped 0.17% to 1.3141 after the ZEW index of economic sentiment in Germany deteriorated unexpectedly in July. The ZEW Centre for Economic Research said that its index of German economic sentiment fell to 36.3 in the current month from 38.5 in June. Analysts had expected a reading of 39.6.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.13%, the S&P 500 index ended up 0.14%, while the Nasdaq Composite index rose 0.21%.

The numbers hit the wire one trading day after JPMorgan Chase & Co. and Wells Fargo & Co. reported earnings that beat Wall Street expectations.

The Commerce Department reported earlier that U.S. retail sales rose 0.4% in June, slowing from a 0.5% increase in May and well short of market calls for a 0.8% increase. 

The U.S. dollar traded higher against most of its major rivals during Friday’s Asian as traders in the region seized the chance to accumulate long greenback positions at favorable prices a day after the U.S. currency was hammered by Federal Reserve comments. 

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Intellitraders Team.

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