In a surprising announcement, World Bank officials have downgraded growth forecasts for the global economy in the upcoming year. The announcement is weighing heavily on major currency advancements, particularly the EURUSD. Continuing off of yesterday’s decline, the single currency still remains below 1.3320 support.



World Bank Lowers Growth



Officials at the Washington based bank today forecasted global growth to remain lackluster in 2013,…

Japanese yen strength continued for the second straight session, keeping the USDJPY pair below 89.00 resistance in the near term. And, given the recent spate of bearish fundamental events, it’s possible the pair could see a test of support via the 86.00 in no time.



Japanese Consumer Slump



With the world’s third largest economy mired in an economic slump, today’s economic data release may have worsened the overall picture a bit. According…

In his first fiscal move since being re-elected as Japan’s prime minister, Shinzo Abe announced plans today that would pump more stimulus into the Japanese economy before Upper House elections in July. The enormity of the stimulus package has lifted concerns of further yen debasement, allowing the USDJPY pair to rocket through the 89.00 resistance barrier.



Stimulus Abound



According to statements released by the Cabinet Office in the…

Economic fundamentals are back in focus for next week with key data releases likely to dictate major currency price action.  Incidentally, traders will continue to eye speculation regarding the impending debt ceiling debate, along with US earnings, as it coordinates with the rising concern over an early withdrawal of Fed stimulus.



UK Consumer Price Index (January 15th, 4:30AM EST)



Although not recently gaining attention, this month’s UK…