Intra-Day Market Moving News and Views
02 Apr 2015 02:44GMT
GBP/USD - ...... Although cable fell in tandem with euro in Asia on Wednesday and then tumbled to a fresh 1-1/2 week trough at 1.4740 in European morning despite the release of upbeat Markit/CIPS Mfg PMI for March, intra-day rebound in eur/usd lifted price to 1.4847 in NY morning before moving sideways in NY afternoon session.
Yesterday's rebound from 1.4740 suggests further choppy trading inside early broad range of 1.5166 (post-FOMC high)-1.4689 would continue ahead of Friday's important U.S. non-farm payroll data and with mild upside bias and buying the pound on intra-day pullback is recommended today.
Having said that, investors shud pay attention to the release of U.K. Markit/CIPS construction PMI at 08:30GMT.
Market expects the reading to drop slightly to 59.5 from 60.1 in preceding month.
At the moment, bids from various accounts are noted at 1.4810-00, 1.4785/80 and then 1.4760-50 with stops emerging below 1.4740.
On the upside, offers are placed at 1.4860-70 and around 1.4890 with stops located just above 1.4900.
Thursday will see the release of Australia's trade balance, U.K. Markit constructions PMI, U.S. jobless claims, Canada's import, export and trade balance, U.S. ISM New York index, durable goods and factory orders.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.