Forex Trading Pips Live Update, Monday 13th August

by Joe Oliver, Forex Trading-Pips

Economic growth reported earlier from Japan showed a slow down to an annualized rate of 1.4 percent in the second quarter from a revised 5.5 percent in the first three months of the year.

Consumer spending has slowed in Japan following a rebound from last years earthquake and tsunami disasters, while exports have been hit from the protracted crisis in Europe.

We are currently short USD.JPY in the Intermarket Componenet of our Forex Signals program with accumulated open profits of +328 pips.

USDJPY daily bars

USDJPY daily bars

The Euro gained for the first time in 5 days after Italy sold 8 billion euros of Treasury bills. Italy’s public debt hit record highs in June of 1.973 trillion euros.

Euro currency daily bars

Euro currency daily bars

Later today Federal Reserve is expected to buy $1.5 billion to $2 billion in long-dated Treasury securities due between February 2036 and May 2042 as part of its stimulus plan. The US$ Index is currently up over 4 % since the beginning of May.

US$ Index daily bars

US$ Index daily bars