(On the 1 feb 2011, Tuesday), i would like to do an analysis relating with what is happening today. Actually, there have some crucial factors that you must to consider before taking a decision. First, looking at GBP/USD is showing the red color which means that Nationwide HPI (House Price Index) m/m has shown good impact actual -0.1% compare with previous 0.4%. In fact, the result will bring impact to raise currency up. Moreover, Nationwide HPI is Change in the selling price of homes with mortgages backed by Nationwide.
Another crucial factor that you must look is Manufacturing PMI on GBP/USD, show a good result which grow gradually from 58.7% (previous) to 62% (actual), this indicator measure the level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. Both these GBP indicators from forexractory has improved currency from about 1.6008 to approximately 1.6098 in a day. It went up until 90 point. The screenshoot show below:
Moreover, we try to look at USD/CHF which has an indicator like Retail Sales y/y. This indicator measure Change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It must be considered by investor and the result was not good enough compare with previous result, the actual -0.4% which reduced from 1.8% (previous) so that the currency of CHF toward USD may declined now the position is on about level 0.9419. The graph show below:
Furthermore, if we look at the USD toward 5 currency today which consider indicator likeISM manufacturing PMI also has a big impact the previous 58.5% and the forecast predicts that the result will drop around 57.8% but the actual showed 60.8%. As a result, these three crucial indicators is today influence the currency mover. Consider as critical as possible Before you decide whether you buy or sell the currency. Good Luck
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