Intra-day Market Moving News and Views
05 Aug 2015 08:13GMT
GBP/USD - ...... Although cable came under renewed selling pressure at 1.5574 in Australia and then tanked to 1.5526 in Asia after tripping stops below last week's low at 1.5549, short-covering emerged there and price later climbed to 1.5588 in European morning, helped by active cross-buying in sterling vs euro.
At present, investors are awaiting the release of important UK services PMI at 08:30GMT. Market forecast is for the UK services PMI for July to come in at 58.2, a slight drop from previous month's figure of 58.5.
For now, offers are reported at 1.5590-00 and more around 1.5620 with stops above 1.5650, whilst bids are noted at 1.5550-40 with mixture of bids and stops at 1.5520-10.
Recommended Content
Editors’ Picks
EUR/USD holds gains above 1.0700 as USD struggles ahead of data
EUR/USD is posting small gains above 1.0700 in the European session on Thursday. The pair remains underpinned by a sustained US Dollar weakness, in the aftermath of the Fed policy announcements and ahead of more US employment data.
GBP/USD stays firm above 1.2500 amid US Dollar weakness
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair's uptick is supported by a broadly weakness US Dollar on dovish Fed signals. A mixed market mood could cap the GBP/USD upside ahead of mid-tier US data.
Gold price trades with modest losses amid positive risk tone, downside seems limited
Gold price edges lower amid an uptick in the US bond yields, though the downside seems cushioned. A positive risk tone is seen as another factor undermining demand for the safe-haven precious metal.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.