Daily FX News Monday 14th January, 2012
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As we write this morning the GBP/USD cross sees the sterling following the rest of the risk associated assets on Monday, retracing ground after climbing as high as 1.6156 overnight, as risk appetite continues to swell.
We should find this week interesting for the sterling, as inflation figures are due tomorrow followed by December Retail Sales on Friday.
As we write this morning the GBP/USD is up 0.05% at 1.6140.
The EUR/USD sees the single currency continuing its correction lower from today’s tops above 1.3400. This was after German Wholesale Prices came in flat on a monthly basis and 3.2% over the last twelve months. As we write, the pair is down 0.16% at 1.3386 with the next resistance at 1.3487.
Friday saw new applications for the unemployment benefits in the world’s biggest economy ticked up slightly during the last week, reflecting uneven improvement in the labor market.
We see the NZD/USD has edged higher since it’s opening, which has marked a session low at 0.8361. During overnight trading and the inception of the European session however, the pair has gradually climbed to the 0.8400, where it is currently testing in these moments. At the time of writing, the pair has secured a gain of +0.14% above its opening Monday.
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