Top-Earning Women in Music1. Lady Gaga, $90 million
Top-Earning Women in Music2. Taylor Swift, $45 million
Top-Earning Women in Music3. Katy Perry, $44 million
Top-Earning Women in Music4. Beyonce Knowles, $35 million
Top-Earning Women in Music5. Rihanna, $29 million
Top-Earning Women in Music6. Pink, $22 million
Richard Pace, analyst at Thomson IFR Markets
Thomson Financial News - The upward revision to the year-on-year UK Q3 GDP to 3.3 pct perhaps provided a little impetus to buy the pound.
GBP/USD: The Pound, heading down with 1.9995 as first resistance
FXstreet.com (Barcelona) - The Pound is in a downward trend against the Dollar and according to Ted Wilson, technical analyst at iForex first resistance level is now at 1.9995: Resistance for the Cable is the easily broken 1.9995, which is 75.8% correction of the climb 1.9655-2.1155. Next are the broken level 2.0090, which was limiting the dropping during the first half of this week, followed by the 100 hour crawling middle line and 200 day crawling middle line at 2.0145. Support levels according to Wilson are the following: Support is expected at the bottom from 18 September 1.9885, followed by 1.9760, and the bottom from 17 August 1.9665, which gave the beginning of the last big climb.
Majors are still fluctuating within wide ranges as they try to resist the gains by the dollar due its strength as they wait for the American session to open and hopefully release positive data.
It seems like the U.K. is starting to face some problems similar to the U.S. after it had released its current account for the third quarter showing that the deficit has widened dramatically to 20.04 billion from the previous revised deficit to the downside to become 13.70 billion from 9.05 billion. In addition to another report giving hints that the BoE might lower their benchmark interest rates to 5.50%, the U.K. also released its GDP final reading for the third quarter showing that it remained unchanged at 0.7% from the preliminary reading. As for the annual final reading for the third quarter, it inched up slightly to 3.3% from the previous and expected readings of 3.2%. At exactly 11:00 GMT the Royal currency dropped to record a low of 1.9879 with the same high it had recorded earlier in the session at 1.9984. That is why, the only thing to do is wait for the fourth quarter readings to judge whether the BoE made the right decision or not.
As for the Euro, with the calendar lacking fundamentals from the Euro Area, the currency still continues to depreciate to reach the 1.4345 level due to the strength of the dollar and the diminishing expectations of a further rate cut by the Feds in the next meeting as inflation inclines.
The USD/JPY pair remains fluctuating within wide ranges as it is currently trading around the 113.15 to record a low of 112.90 and a high of 113.45.
Still to come are data from the U.S. economy starting with the annual final GDP reading for the third quarter where it is expected to remain unrevised from the preliminary reading at 4.9%. However, the final reading for the personal consumption for the third quarter is forecasted to have been slightly revised to the upside to 2.8% from 2.7%. As for the Core PCE final reading for the third quarter, no revisions are expected and the reading is to remain stable at 1.8%. Finally, the Leading indicators for the month of November are seen to have inclined slightly but still show a drop of 0.3% from the previous drop of 0.5%.
Katie Dean, senior international economist at ANZ
Ninemsn - It has been a tough day for the Aussie. The local equity market weighed on the Aussie. The continued nervousness about the global economy and tight liquidity conditions saw it fail to advance past 86 U.S. cents.
Hideo Kumano, economist at Dai-chi Life Research Institute
Reuters - If I pick one key point from Fukui's comments, I think he focused on growing downside risks. The monthly report only pointed to weak housing investment, but I'm sure board members are more focused on growing downside risks triggered by the subprime problems. I think Fukui's comments reflected that.
Lady Gaga and Taylor Swift are the top-earning women in music, according to Forbes' annual report, released on Wednesday.
Gaga, 25, made a whopping $90 million, while Swift, 22, earned $45 million.
Katy Perry, Beyoncé Knowles and Rihanna round out the top five.
The Forbes report was compiled with data from Pollstar, the Recordign Industry Association of America (RIAA), and interviews with industry experts including lawyers, managers, concert promoters and the artists themselves, according to the magazine.
Figures were tallied between May 2010 and May 2011.
Gaga, who released her second studio album Born This way in May, averaged $1.3 million a night while on tour, Forbes reported. Swift, on the other hand, grossed $1 million per night on the road.
The Forbes list is the latest honor the country superstar can add to her list. Swift has been graced with several awards and titles in recent months, including the CMA Entertainer of the Year, the AMA Artist of the Year and Billboard's Woman of the Year. Swift is also up for three Grammy awards in February, including Best Country Solo Performance. Gaga is up for two awards, including Album of the Year.
Perry, 27, recently wrapped her California Dreams tour, which earned more than $25 million. The Teenage Dream singer also became the first artist to tie Michael Jackson's longstanding record of having the most number one singles from the same album. If Perry's latest single, The One That Got Away, reaches number one, the record books will crown a new winner.
Click through to find out who made Forbes' top-earning women in music list, led by Lady Gaga and Taylor Swift.