Intra-Day Market Moving New and Views
30 Sep 2014
GBP/USD - ..... Cable swung wildly on Monday as despite a brief fall to 1.6210 in tandem with euro at NZ open, price ratcheted higher in Asia and Europe on broad-based weakness in greenback.
Later, the British pound climbed to a session high of 1.6275 in NY morning before retreating to 1.6245 and then 1.6225 shortly after Asian open on Tuesday.
Range trading abv yesterday's low at 1.6210 is expected until European open as investors are reluctant to add bets ahead of the release of U.K. current account and the confirmation of Q2 GDP reading at 08:30GMT.
Bids are noted at 1.6220/15 n then 1.6210 with mixture of bids and stops located around 1.6200. On the upside, offers are placed at 1.6250-60 and then 1.6275/80 with stops placed just above 1.6300.
Market expects the U.K. Q2 final continues to post strong readings with a growth of 0.8% Q/Q and 3.2% Y/Y.
Meanwhile, economists estimate U.K. Q2 current account deficit to narrow to 17.00 bln pounds fm 18.5 bln pounds in Q1 (in the other way to show increasing demand for pounds from foreigners).
Recommended Content
Editors’ Picks
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.