Intra-Day Market Moving News and Views
05 Mar 2015 09:04GMT
GBP/USD - ...... Cable finally gains a bit of temporary respite in hectic European trading after weakening to a near 3-week low of 1.5225 ahead of European open.
Although st specs sold cable in Australia and knocked price from 1.5269, price remained under pressure in Asia and easily penetrated yesterday's 1.5250 low, price later fell to 1.5225 after tripping some stops below 1.5225.
Looks like European traders are reluctant to test cable's downside as MPC meets and even though the BoE policy announcement will be a non-event.
In the meantime, range trading above 1.5225 is expected with initial bids noted at 1.5235-25 with some stops (not large) below 1.5220.
Offers are tipped at 1.5265/75 and more above with stops above 1.5300.
British PM David Cameron on Thursday ruled out taking on opposition Labour party leader Ed Miliband in a head-to-head televised debate ahead of the May 7 national election.
While the Conservatives and Labour are neck and neck in the polls, Miliband has the most to gain from a head-to-head debate as his personal ratings are far lower than Cameron's.
A letter from Cameron's office said he would only take part in one debate and that it must include leaders from minor political parties, rejecting broadcasters' proposals to hold several debates, including a one-on-one debate with Miliband.
"There should be one 90 minute debate between seven party leaders," the letter said. It proposed including the anti-European Union party UKIP, Scottish n Welsh nationalists, the Green party and the junior coalition partner Liberal Democrats.
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