Intra-day Market Moving News and Views
03 Jun 2015 07:00GMT
GBP/USD - ..... Although cable edged higher from 1.5330 in Asia and then rose briefly above Tuesday's high of 1.5367 (NY) to 1.5375 ahead of European open, release of downbeat U.K. Nationwide house price index checked intra-day gain there and price subsequent retreated to 1.5338.
U.K. Nationwide Building Society showed in a report on Wednesday that its index of U.K. house prices rose to 0.3%, from 1.0% in the preceding month.
At the moment, bids are reported at 1.5330/25 and then 1.5310-00 with stops building up below 1.5300.
On the upside, offers are noted at 1.5370-80 and around 1.5390 with mixture of offers and stops at 1.5400-1.5410.
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Editors’ Picks
GBP/USD stays below 1.2450 after UK employment data
GBP/USD trades marginally lower on the day below 1.2450 in the early European session on Tuesday. The data from the UK showed that the ILO Unemployment Rate in February rose to 4.2% from 4%, weighing on Pound Sterling.
EUR/USD steadies above 1.0600, awaits German ZEW and Powell speech
EUR/USD is holding above 1.0600 in the European morning on Tuesday, having hit fresh five-month lows. The pair draws support from sluggish US Treasury bond yields but the rebound appears capped amid a stronger US Dollar and risk-aversion. Germany's ZEW survey and Powell awaited.
Gold price holds steady below $2,400 mark, bullish potential seems intact
Gold price oscillates in a narrow band on Tuesday and remains close to the all-time peak. The worsening Middle East crisis weighs on investors’ sentiment and benefits the metal. Reduced Fed rate cut bets lift the USD to a fresh YTD top and cap gains for the XAU/USD.
SOL primed for a breakout as it completes a rounding bottom pattern
Solana price has conformed to the broader market crash, following in the steps of Bitcoin price that remains in the red below the $65,000 threshold. For SOL, however, the sensational altcoin could have a big move in store.
Key economic and earnings releases to watch
The market’s focus may be on geopolitical issues at the start of this week, but there is a large amount of economic data and more earnings releases to digest in the coming days.