Intra-day Market Moving News and Views
26 May 2015 02:27GMT
GBP/USD - .... Cable languishes above intra-day 2-week low of 1.5432 after falling in tandem with eur/usd at Asian open, triggering stops below 1.5455 and 1.5445 on the way down.
However, sterling's decline is relatively less severe as compared to euro as eur/gbp cross pair is trading near Monday's fresh 2-month low at 0.7073.
Looks like cable would track intra-day swings in eur/usd in European morning as the only U.K. data due out is CBI distributive trades which will be released at 10:00GMT.
Order book is pretty thin due to closure of U.K. markets on Monday for Spring Bank holiday, now, offers are tipped at 1.5460/70 and more above with stops touted at 1.5510.
Some bids are touted at 1.5430-20 with some stops below 1.5390.
Data to be released on Tuesday:
New Zealand's trade balance, U.K. CBI distributive trades, U.S. durable goods, Redbook, monthly house price index, CaseShiller 20 MM, consumer confidence and new home sales.
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