Domestic equity indexes dipped into red territory yesterday as “taper talks” stole the headlines with no other major economic releases taking place on the day. The bulls shifted gears into profit taking mode after Fed official Charles Evans reminded investors that the economy would have to deal with a reduction in bond-repurchases later this year, and potentially as early as fall [see Optionable ETFs For Every Investment Objective]. Our ETF to watch for the day is the CurrencyShares British Pound Sterling Trust , which may experience volatile trading as investors react to the overnight inflation report from the Bank of England. Chart Analysis Consider FXB’s one-year daily performance chart below. The British pound has endured a harsh decline in 2013 as Europe’s grim outlook has done little to bolster the U.K.’s growth prospects, which has in turn welcomed bearish pressures in the currency market. From a technical perspective, FXB offers some attractive [...] Click here to read the original article on ETFdb.com. Related Posts: Tuesday’s ETF Chart To Watch: FXB Testing Support Ahead Of U.K. GDP Estimate U.S. Vs. U.K. ETFs: 4th Of July Edition Tuesday’s ETF Chart To Watch: FXB In Focus Ahead Of Great Britain’s CPI Release Thursday’s ETF Chart To Watch: FXB Rebound Hinges On BoE Rate Decision European Currency ETFs Battle For Inflows: Euro (FXE) vs. Pound (FXB) vs. Franc (FXF)
Domestic equity indexes dipped into red territory yesterday as “taper talks” stole the headlines with no other major economic releases taking place on the day. The bulls shifted gears into profit taking mode after Fed official Charles Evans reminded investors that the economy would have to deal with a reduction in bond-repurchases later this year, and potentially as early as fall [see Optionable ETFs For Every Investment Objective]. Our ETF to watch for the day is the CurrencyShares British Pound Sterling Trust , which may experience volatile trading as investors react to the overnight inflation report from the Bank of England. Chart Analysis Consider FXB’s one-year daily performance chart below. The British pound has endured a harsh decline in 2013 as Europe’s grim outlook has done little to bolster the U.K.’s growth prospects, which has in turn welcomed bearish pressures in the currency market. From a technical perspective, FXB offers some attractive [...]
Click here to read the original article on ETFdb.com.
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