Take a look at the current currency pair rates below:
GBP/JPY: Lowest 134.97 Highest 135.48 Current 135.07-12
EUR/JPY: Lowest 112.89 Highest 113.57 Current 113.35-40
USD/JPY: Lowest 83.58 Highest 83.88 Current 83.63-66
GBP/USD: Lowest 1.6118 Highest 1.6188 Current 1.6158-61
EUR/USD: Lowest 1.3475 Highest 1.3573 Current 1.3554-57
USD/CHF: Lowest 0.9616 Highest 0.9676 Current 0.9622-25
AUD/USD: Lowest 0.9943 Highest 1.0019 Current 1.0001-04
AUD/JPY: Lowest 83.35 Highest 83.83 Current 83.61-66
Hello everyone. I know....today's post is a little later than usual. Reason being is because today was an eventful day for the market. & why doesn't the GBP stop strengthening?!? What's going on in that nation these days eh?!
Anyway, I wanted to inform everyone about the Building Permits and Producer Price Index (PPI) coming out tonight Feb. 16 at 10:30 PM (UTC+9). Below are the GBP/USD & EUR/USD charts showing the results of the previous announcements on January 13, 2011 (PPI) and January 19, 2011 (Bldg. permits). Even though there was a lot of good news coming out of the Eurozone on January 13, a positive PPI announcement still weakened the USD against the EUR & the GBP (go figure)!!!
GBP/USD 30-min. chart (PPI)
EUR/USD 30-min. chart (PPI)
GBP/USD 30-min. chart (Bldg. permits)
EUR/USD 30-min. chart (Bldg. permits)
For the previous PPI announcement, the GBP/USD rose 64 points within 1 hr. 30 minutes of the announcement and had an 89-point movement overall before retracing. On the EUR/USD, it rose 71 points within the 1st 30 minutes of the announcement & experienced a 168-point movement overall due to some positive announcements from Europe.
As for the previous Building Permits announcement, the GBP/USD and EUR/USD moved in accordance to the outcome. GBP/USD dropped 69 points while the EUR/USD dropped 35 points. The GBP was more affected by the strengthening USD than the EUR was.
Since the USD had negative announcements the night before, look for strong downward trends on the GBP/USD & EUR/USD if tonight's announcemnts are positive by a large margin; especially EUR/USD.