British pound rises with the support of the prospect of rising interest rates

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Performance was well on the British
pound yesterday after the announcement of inflation data that came
better than expected results, which raise the expectations for an
increase of interest rates from the Bank of England. The Australian
dollar also gave a powerful presentation, depending on the momentum and
the strength of economic factors.

Economic Analysis

Canadian dollar cad

- The Canadian dollar fall because of retail sales disappointing
The Canadian dollar fell yesterday
with Canadian retail sales fell unexpectedly to 0.3% in January after
falling 0.2% in December. It was forecast to rise in this index by
0.1%.Retail sales have not changed except for transportation from the
previous month, while expectations were that a rise of 0.8%. The decline
in Canadian sales this time is the second consecutive decline, which
represents a crack in the Canadian economy.Canada is with the strongest
growth rate among the seven industrialized nations in the fourth
quarter, and employment rates have risen by well over the same period,
but the latest reports on retail sales showed a slowdown in consumption
there. The bank expects Canada's slowing real estate market.In light of
the slowdown in consumer spending, and the expected slowdown in the real
estate sector, the market may begin to expect a pause in raising
interest rates in Canada. U.S. dollar Canadian dollar yesterday its
highest level at 0.9813 before falling back to 0.9809. And the pair
opened trading at the 0.9781 level.It emerged from the technical
indicators that the U.S. dollar / Canadian dollar is still in a bearish
trend despite the sharp rebound last week moving average of a hundred
days. The requests are seeing strong pair at that level. The resistance
comes at the highest level in the pair last week at 0.9970 followed by
0.9815 level.While the support is at its lowest level on record
yesterday at 0.9750, followed by the lowest annual level at 0.9666.

EUR EUR

- Pound rises against the backdrop of rising inflationary pressures
The Pound is the currency of a
stronger performance today after the rise in the consumer price index by
the British is higher than expectations, which helped to increase the
demand for the GBP.The British consumer price index had recorded a rise
of 4.4%, whereas at the same time last year, rising by 4.0%. The
expectations of economists refer to this index rise by 4.2%. With the
exception of food and energy, inflation was rising by 3.4% met
expectations of 3.1% reading.The rise in inflation to a
higher-than-expected has given enough reason for traders to raise
expectations to increase interest rates, which may enhance the strength
of the GBP is further against the U.S. dollar, where America is still
committed to monetary policy soft. The Bank of England starts to raise
interest rates in May.It should be noted that British interest rates,
currently 0.5%. These data have encouraged traders to buy the British
Pound, and thus turn the GBP / USD to its highest level this year at
1.6400 after it was the opening price at a level of 1.6300.Will be
announced later today about the British budget, as the minutes of the
meeting will be the British bank, which had a tone in favor of raising
interest rates from the Bank of England. It is expected that there will
be more rises in the British pound, with a high momentum in the current
time on both the daily chart and weekly chart.And resistance is GBP /
USD at the highest level recorded this pair in January 2010 at 1.6460,
and is the target level over the long term at the highest level in
November 2009 at 1.6875.

Japanese Yen JPY

- Yen exchange rates began to stabilize
Characterized yesterday's trading,
down volatility in the Japanese yen.This supports the idea of ​​the
success of collective intervention of the seven industrialized nations
and the Ministry of Finance of Japan. And average the true extent of
movement of the dollar / yen to fourteen days at 1.31 (ie, the extent of
movement of 131 points). But yesterday, the rate of fluctuation below
this level and the movement of the pair in the capacity of only 48
points. The pair closed near the opening price at a level of 80.94.Also
recorded other pairs for the Japanese decline in volatility, suggesting
that intervention in the market has been successful. For those who
accept to buy the yen, supported by forecasts the return of funds for
insurance companies to the country after the earthquake and tsunami,
they may have exited the market due to the intervention of the seven
industrialized nations.The performance of the Australian dollar strong
yesterday, and for the third consecutive day, rising Australian dollar /
U.S. dollar after it had been worth without the fair value of his
having caused the disaster, the Japanese in the retreat of some
participants in the market expectations of higher interest rates from
the Bank of Australia.The Australian dollar rose / USD at the highest
level at 1.0127 before closing at 1.0110. Last week, the pair fell to
its lowest level at 0.9704, where there are orders of moving average
near to two hundred days. Resistance is for the pair at 0.0200 followed
by 1.0255 level, its highest level for this pair at all.While the
support is at 0.9940.

Crude oil CRUDE OIL

- Depreciation of the dollar supports higher prices for crude oil
The weakness of the dollar as a
support for oil prices online, where the increased strength of this
product by 1.8% yesterday, rising to their highest levels since the
natural disaster that Japan's experience.As continued fears of a
disruption of oil supplies due to increased fighting in Libya, and more
opponents in the Middle East. Spot oil prices closed yesterday's trading
near its highest level at 104.99 after opening price was at 103.84.Has
been increased fighting in Libya, in addition to a U.S. military plane
crash of F-15 jets in the cause of increasing tensions on the length of
the conflict in Libya, which could limit oil supplies from Libya. Adding
to these tensions join some of the leaders of the Yemeni army to
opposition parties, thereby raising the Yemeni president of fears of
unrest in the yen.In spite of that the yen is not a result of the
essential oil, but the proximity of the Kingdom of Saudi Arabia which is
the provider of the essential oil may raise the degree of tensions in
the region. Today, will be announced on U.S. oil stocks report, which is
expected to record high by 2.0 million barrels. This report has been
recorded in the last week reading the 1.7 million barrels.While Libya is
a provider of crude oil to America, but it is providing oil to a large
part of Europe, especially Italy. In the case of lower U.S. oil offers
more than expected, this may be another reason for continuing to buy oil
buyer who witnessed yesterday.

Technical Analysis

EUR / USD EUR / USD
Register pair higher yesterday on a
new level during his 2011 at 1.4247 before falling back during the Asian
session. The bullish trend is still holding, and provides mobile broker
for twenty days to support the day at 1.3970. Traders are looking to
buy at low levels, and resistance is at 1.4280 followed by 1.4580 level.


GBP / USD GBP / USD
Change the momentum to the upside on
both of Rass chart monthly, weekly and daily, which increases the
probability that there is a further increase of this pair. The pair is
testing at the moment the trend line extending from the highest level in
2007. And if the price closes above this line, this will lead to
increased demand for the GBP. The aim would be timely at 1.6275 followed
by 1.6875.

USD / JPY USD / JPY
Decline in the rate of fluctuation of
the pair after the intervention of the seven industrialized nations to
stabilize the yen. The lead level of 80 nations decline to take further
action from central banks to intervene in the world. Traders may wish to
be patient to find the best entry points.It is expected that there will
be sales near the moving average of the two hundred day at level 83.

USD / CHF USD / CHF
After breaking the pair, the model
bearish flag. In the case of exit price of this form coherent, could
reach the next move him to 400 points in the downward direction at a
level of 0.8600. And the support is for this pair at 0.9130.

U.S. Dollar / Canadian Dollar USD / CAD
Find the pair a strong resistance
near the line of action to mediate a hundred days. Through the sale of
opportunities to enter the pair near the level of 0.9940, Forex traders
can enter into a bearish trend with a target wave in the lowest price
price on the daily chart at 0.9666.