Sterling could drop in forex trading

Tomorrow, both the ECB and the BOE are expected to make interest rate and monetary policy announcements. The ECB is expected to remain steady, and the BOE is expected to increase its asset purchase program.

The pound lost about 0.50 percent of its value in comparison to the dollar on Wednesday, February 8. This comes after a few days of steadily rising prices. Midway through Monday the 6th, the GBP stood at just below 1.574 before rising in value up to above 1.592 Early Wednesday. But Wednesday’s trading sessions saw the price drop quite a bit back to the previous week’s value of around 1.581. This is apparently a sign of future things to come.

A Greek deal is almost here again, maybe tomorrow or Friday or next week! It’s like dealing with an adolescent teen and their irreverent actions. Accountability and big picture politics do not seem to be included in the Greek decision process, otherwise there would be a greater sense of urgency and unity rather than domestic discord and non decisions.

Currency trading with the Australian dollar

The Aussie has found a support level in forex trading against the US dollar today. Aussie is a little bit higher today, thanks to the latest news out of Australian. The RBA has decided to keep its interest rate at 4.25% -- even though the forex market had already priced in a cut.

India’s economy will grow at its slowest rate in three years in the fiscal year ending in March, according to an outlook released on Tuesday by the government’s central statistics office.

The office revised its estimate for GDP growth for the year to 6.9 per cent. If the number is confirmed, it will mark a strong decline from last year’s 8.4 per cent.

Industrial production and foreign investments contracted, the rupee was Asia’s worst-performing currency, and the country’s current account and fiscal deficits increased.