Forex: GBP/JPY falls to test 144.00 level

FXstreet.com (San Francisco) - The Sterling is currently trading lower against the Japanese Yen and after falling around 120 pips from 145.20 in the latest couple of hours, the pair has tested the 144.00 support. Currently the GBP/JPY is trading around 144.20.

With 0.50% losses from opening price, the GBP/JPY is trading inside in a slightly bearish trend according to the FXstreet.com Forex Studies. Indicators such as CCI and Momentun are pointing lower while the MACD and the Stochastic are neutrals.

Next supports are 144.0, 143.70 and 143.20. Resistances are at 145.20, 145.80 and the 146.00 frontier.

Mar 21, 2013

American equity markets pull back Thursday

The US Stock market experienced a lower opening Thursday after the release of economic data. In the United States, Initial Jobless Claims (March 17) came in at 336K, against expectations of 342K, and compared with 334K previously. In addition, Continuing Jobless Claims (March 10) were reported at 3.053M, exceeding estimates of 3.050M, and relative to 3.024M previously. Finally, the Housing Price Index (MoM) yielded a result of +0.6% in January, vs. a consensus of +0.7%.

Commodities Brief – Gold capped at 1614, silver regains 29.00 level

The yellow metal was seen breaking higher Thursday on the heels of mixed data out of the US, which for the first time in over a week showed some alternative to a largely optimistic view of the economy in 2013. After yesterdays Fed interest rate decision, which offered little to the imagination – interest rates are indeed still pegged at 0.25% – gold prices have been operating positively, and in these moments have settled at USD $1612.27 per oz. slightly off its maximums during US trading. A hold above the 1610 level will be a minor victory for gold bears as they look to target a second consecutive weekly close.