The Sterling was seen weaker against the US Dollar after the UK GDP growth report came in on Thursday.
The US National Association of Realtors reported that in January the existing home sales slumped for the second month in a row.
The Yellow metal has extended its decline on Thursday.
A fundamental change has taken place, which has caused the USD/JPY to change its direction.
The British Pound considerably decreased against the US Dollar after the UK job market report was released.
The US National Association of Realtors reported that in January the existing home sales slumped for the second month in a row.
On Wednesday the yellow metal's price reached the lower trend line of a long term ascending channel pattern.
On Wednesday the USD/JPY currency pair was approaching the resistance of a long term descending channel.
Initially, the British Pound rose against the US Dollar despite lower-than-expected UK retail sales data, growing 11 base points to the 1.4118 mark.
The Euro weakened against the Greenback despite the data showing an unexpected uptick in the German ZEW economic sentiment.
As the yellow metal was failing to pass the levels near the 1,360 mark, a review of the commodity price's charts was conducted.
The Decline of the US Dollar against the Japanese Yen has ended. However, it might not be for long.
Initially, the British Pound rose against the US Dollar despite lower-than-expected UK retail sales data, growing 11 base points to the 1.4118 mark.
The Euro zone's currency advanced against the US Dollar on Monday on continuously growing surplus trend in the Eurozone's current account.
The Labour Department revealed that the US Producer Price Index climbed 0.4% in January, as forecasted.
Initially, the British Pound rose against the US Dollar despite lower-than-expected UK retail sales data, growing 11 base points to the 1.4118 mark.
The Euro continued the trend against the Greenback, despite of the US producer prices showing its forecasted growth in January.
The surge of the metal's price has been continuing tightly next to the upper trend line of the ascending channel pattern.
The fall has forced the currency exchange rate to the 105.50 mark. However, there is a new development on the charts.
The Euro continued the trend against the Greenback, despite of the US producer prices showing its forecasted growth in January.
The Labour Department revealed that the US Producer Price Index climbed 0.4% in January, as forecasted.
The breaking of the resistance has given more gains. However, there was a very notable event, which resulted in a drawdown on Wednesday.
SWFX market sentiment is 71% bullish (-2%) 57% (+4%) of pending orders in the 100-pip range are set to BUY
The release showed that the US Consumer Price Index surged 0.5% over the course of January, beating expectations for only a 0.3% rise.