The Advisor Weblog

Best pair to trade now: GBP/USD

Posted: 16 Dec 2010 03:11 AM PST

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010/12/16/02/

Starting the day

Posted: 16 Dec 2010 01:22 AM PST

Hi everyone and welcome back! Market is all about mood these days: while Asian stocks had been under pressure, supporting dollar gains, European opening, and news that China’s credit rating was raised to AA- from A+ by Standard & Poor’s, are wakening risk appetite, and sending dollar slightly down across the board. Still European macro data up to now has been quite negative, with PMI’s under expectations in France, and mixed in Germany and the euro zone.

In Europe, a 2-day Eurozone summit has started, and of course, it will be focusing on the crisis mechanism, a possible capital hike for the ECB and fiscal surveillance; I don’t expect it to affect the market today, but it won’t be a bad idea to keep eyes open an see what ythey are on.

Anyway! day is young and we have even more macro data ahead, starting ina few minutes in the UK, so here is the link for today's calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!