Intra-day Market Moving News and Views
30 Jul 2015 02:47GMT
GBP/USD - ...... The British pound also swung wildly on Wednesday as despite rallying from 1.5588 (Europe) to a fresh near 1-month high of 1.5691 in NY morning after release of downbeat U.S. pending home sales data, selling interest below 1.5700 level knocked price lower and cable later fell to 1.5612 on long-liquidation and then 1.5594 after release of FOMC statement.
The British pound met came under renewed selling pressure at Asian open on Thursday and fell from 1.5611 to 1.5590 before recovering.
As no U.K. economic data are due out today, the pound is expected to follow intra-day swings in eur/usd.
For now, initial offers are noted at 1.5620-30 with stops reported above 1.5650, whilst some bids are tipped at 1.5580-70 and more below with stops touted just below 1.5550.
Recommended Content
Editors’ Picks
AUD/USD stand firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
USD/JPY climbs relentlessly ahead of BoJ meeting
The USD/JPY extends its uptrend despite verbal intervention from the Minister of Finance. The wide differential between US and Japanese interest rates is seen as a major factor contributing to the rise. The idea that a lot is already priced into the US Dollar could limit USD/JPY upside.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.