IBTimes

The International Monetary Fund (IMF) lowered growth forecasts for China for this year, where the fund expects China to expand 8.25% now, down from the previous forecast of 9.0%, due to the expected weakening exports and as inflation is projected to ease further.The IMF explained that China could pi.

On Friday Pound/Dollar decreased with 110 pips. The Cable depreciated from 1.5861 to 1.5749 on Friday, in converse with the positive Interbank sentiment at almost +35%, closing the week at 1.5804. Today the British Pound is soft, but moving still at the lower end of Friday's range for the time being.

Greek Prime Minister Lucas Papademos managed to reach a tentative agreement with three of political party leaders after talks yesterday over further austerity measures demanded by international lenders to grant Greece a second bailout worth 130 billion euros announced in October to avoid default nex.

D20P BUY A GBP/USD 1.5828 take profit 1.5848 stoploss 1.5798

AUD/USD was trading at 1.0714 The Australian dollar fell against its U.S. counterpart Monday after weaker-than-expected retail sales numbers reduced the trend of the Aussie. The question is with the AUD is what will the RBA due in tomorrows meeting. Australian retail sales disappoint in December, -0.1% MoM against expectations of +0.2%, increasing liklihood of RBA rate cut tomorrow.

NZD/USD is trading at 0.8306 down ending the Monday session. The USD has picked up some tentative strenght on worries about Greece. After committing to have a done deal no later then Sunday night, there is no deal on the table and negotiations and talks continue. The Greek Prime Minister seems to be losing control. Worries continue to grow as the EU steps up pressure to resolve the problems.

USD/JPY was trading 76.67 in a crazy session. The pair were trading down at 76.50 until worries began to surface in the early morning hours in Europe. The USD has picked up some tentative strenght on worries about Greece. After committing to have a done deal no later then Sunday night, there is no deal on the table and negotiations and talks continue.

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During a speech before the House Budget Committee held by Ben Bernanke in Washington this past week, the Federal Reserve Chairman stated the importance of pushing the US fiscal policy on a sustainable path. "Interest rates can sour quickly if investors lose confidence in the ability of the government its fiscal policy," he pointed out.

Entry Sell: 1.5762 T/P Sell: 1.5734 / 1.5712 S/L Sell: 1.5812

Entry Sell: 1.3121 T/P Sell: 1.3098 / 1.3071 S/L Sell: 1.3171

EUR/USD Sell at 1.3096 SL 1.3128 TP 1.3019 USD/JPY Sell at 76.80 SL 77.12 TP 76.08 GBP/USD Sell at 1.5784 SL 1.5816 TP 1.5696 USD/CHF Buy at 0.9211 SL 0.9179 TP 0.9295 today so far +56, total on Friday +142 pips.