Sterling Digest, May 18 2012: Facebook Friday

• Posted by faithmight on May 18th, 2012 at 11:20 am
• Comments: 0

Mark Zuckerberg rings the Nasdaq bell from California (Zef Nikolla/AP)

$FB is so hot that Nasdaq brought the bell to them. However, $FB Friday didn’t change profit-taking week end flows leaving sterling a mixed bag on the week. $GBPNZD has been a monster breaking out to new highs again this week. $GBPAUD and $GBPCAD, meanwhile, chopped around in wide ranges. And the $GBPJPY and $GBPUSD fell hard. A $GBPUSD close BELOW 1.58 is as big a deal as a close below 125.00 is for $GBPJPY. Those cracks we noted all week in this digest seemed to widen a bit more today.

• GBPJPY Moves Below 100 Day MA (Forex Live)
• Fib RETRACEMENT Taken from the March Advance shows interim support at 1.5750 (Chart.ly)
• Britain says ECB could do more to suppport demand (Reuters)
• Lloyds’s Williams Says BOE Must Preempt Need for QE (Bloomberg) [video]
• BoE and Fed Ignite QE Hopes (Currency Solutions)
• Merkel under pressure at G8 for eurozone economic stimulus package; Cameron seeks to build ties with Hollande (Open Europe)
• Facebook on SecondMarket (SecondMarket)
• Facebook Seeks To Be Infrastructure (Bloomberg) [audio]

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