Intra-day Market Moving News and Views
2 Oct 2015 01:45GMT
GBP/USD - ...... Despite initial spike down to session low at 1.5107 in early European morning, the British pound gained to 1.5157 after the release of better-than-expected UK mfg PMI, then ratcheted higher to intra-day high at 1.5181 in New York morning on dlr's weakness. However, price pared its gains and retreated to 1.5127 in late New York.
Later, cable found renewed support there n has rebounded to 1.5145 in Asian morning.
Pay attention to the release of UK construction PMI at 08:30GMT. Street forecast is for 57.5 vs prev. reading of 57.3.
Bids are now seen at 1.5120/30 with stops building up below yesterday's 1.5107 low whilst initial offers are noted at 1.5170/80, suggesting buying on dips is still favored.
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