What a difference a day makes. Profits were quickly taken this morning as sterling falls back across the board. The stark contrast to yesterday’s bullishness is what markets are made of. FIVE central bank decisions in a week will do that. RBA killed the AUD to kick off this Tuesday trading session. A neutral RBA acknowledged a slower economy yet still left a small signal for further monetary easing. Investors sought out USD and JPY sending $GBPUSD and $GBPJPY to new lows. Risk aversion dragged sterling down against everything else with $GBPCAD, $GBPNZD, $GBPAUD, $GBPCHF all down on the day.
- Is There Something to Month End Flows (FaithMightFX)
- EURGBP Update (50’s Blog)
- GBP/USD Completes a Head and Shoulder Pattern as it Slides Below 1.58 (fxtimes)
- EURUSD, GBPUSD, EURJPY Key Levels and Biases (Tics & Pips)
- GBPUSD daily market cycle (Chart.ly) [Another look at seasonality.]
- UK Osborne: Sees Credit Easing Scheme Up, Running Pre-Budget (Forex Live)
- ECB Surpasses €3 Trillion, Still Most Undercapitalized Hedge Fund In The World (ZeroHedge) [Big fancy headline for: BLAME THE FED]
- RBA leaves rates on hold (The Sydney Morning Hearld) [Interesting video too.]