Intra-Day Market Moving New and Views
18 Sep 2014
GBP/USD - .... Cable jumps ahead of European open.
Despite trading sideways in Asia following Wed's sharp retreat from a fresh 1-week high of 1.6358 to 1.6247 (AUS), traders noted a wave of broad-based buying by European early birds near 1.6260/65, price rallied to intra-day high of 1.6325.
As cable's intra-day up move was not news-driven and Scottish polling station are to open at 06:00GMT for voters to cast their votes (until 21:00GMT), choppy range trading is likely to continue.
Some offers are tipped at 1.6325/35 and more above with stops touted above 1.6360. Some bids are noted at 1.6270-60 and more below with stops below 1.6240.
Earlier comments by Treasury Secretary Jack Lew who said the United States will closely follow the Scottish independence vote on Thursday because it has potentially big economic consequences.
Lew told students on Wed "we think a strong, united UK is important as the UK has been one of our best and most reliable partners for a very long time."
He added "it's an internal debate within the UK right now but obviously there are potentially significant economic ramifications." He said "we're all watching with great interest what happens tomorrow."
Recommended Content
Editors’ Picks
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.