AceTraderFx Apr 28, 2014: Intra-Day Market Moving News and Views GBP/USD

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AceTraderFx Sept 24: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
24 Sep 2015 01:00GMT

GBP/USD - ..... The British pound gained no repite on Wednesday and met renewed selling at 1.5364 in early European morning, price fell sharply to intra-day low at 1.5221 in New York morning, due partly to active cross-selling of strong especially vs euro.
Cable staged a brief rebound but 1.5264 has capped upside and brought another retreat.

The only U.K. data due from UK today is BBA mortgage approvals, price is likely to remain influenced by the eur/gbp cross, hence investors should keep a keen eye on it.

Offers have now been lowered to 1.5260/70 and more below at 1.5290/00 with stops building up above there whilst initial bids are noted at 1.5200/10, suggesting selling for a resumption of recent downtrend is still favoured.

 

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AceTraderFx Oct 20: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
20 Oct 2015 01:34GMT

GBP/USD - ........ The British pound rallied from yesterday's Asian low at 1.5428 to 1.5498 ahead of New York open on cross-buying of sterling vs euro. However, profit-taking there capped intra-day gains and price retreated to 1.5459 near New York closing, then 1.5457 in Australia today.
Later, renewed buying there lifted the pair and cable rebounded to 1.5479 in Asian morning.

Although there is no UK data due to today, market focus is on BoE Governor Mark Carney's speech at 10:00GMT. Traders will be looking for hints on his views regarding when the central bank will look to raise its rates.

Offers have now been raised to 1.5490/00 and more above at 1.5510/20 with stops building up above there whilst initial bids are noted at 1.5430/40, suggesting choppy trading with mild upside bias would be seen initially.

 

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AceTraderFx Oct 26: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
26 Oct 2015 01:3GMT

GBP/USD - ........ The British pound met renewed selling interest at 1.5419 ahead of New York open on Friday and tumbled in tandem with euro to 1.5307 near NEW YORK closing, then marginally lower to 1.5305 (Reuters) ahead of Australian open today.
However, cable pared its losses and staged a short-covering rebound to 1.5325 at Asian open.

As there is no major eco. data due from UK today, price cud remain under pressure due to comments from BoE's Carney released over the weekend, where he hinted that a rate rise is not a certainty and that it would be a gentle process when it does eventually happen.

Offers have now been raised to 1.5330/40 and more above at 1.5350/60 with stops building up above there whilst initial bids are noted at 1.5270/80, suggesting selling on recovery for a resumption of recent downtrend is favored.

 

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AceTraderFx Oct 26: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
27 Oct 2015 01:36GMT

GBP/USD - ...... The British pound rose in tandem with euro to 1.5350 in European morning and despite a brief pullback to 1.5324 in New York morning, price rallied to session high at 1.5382.
However, profit-taking offers there pressured the pair lower and price retreated to 1.5343 in New York afternoon and continues to trade sideways in Asian morning.

Pay close attention to the release of preliminary GDP qq n yy at 09:30GMT. Street forecasts are 0.6% and 2.4% vs previous readings of 0.7% and 2.4% respectively.

Bids have now been lowered to 1.5330/40 and more below at 1.5310/20 with stops building up below there whilst initial offers are noted at 1.5380/90, suggesting choppy trading would be seen ahead of the GDP release.

 

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AceTraderFx Oct 28: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
28 Oct 2015 02:00GMT

GBP/USD - ......... The British pound met selling interest at 1.5359 in Asian morning and fell sharply to 1.5309 in European morning after data showed Britain's economic recovery slowed more than expected in the three months to September.
Price continued to ratchet lower and hit an intra-day low at 1.5283 in New York morning. However, cable pared its losses and staged a short-covering rebound to 1.5317 in New York afternoon. The pair has continued to trade in sideways manner in early Asian trade but yesterday's data should weigh on cable and pressure it lower.

Since there is no eco. data due today, price is likely to track euro's intra-day movements, however, traders should keep an eye on eur/gbp cross as well.

Offers are now seen at 1.5320/30 and more above at 1.5340/50 with stops building up above there whilst initial bids are noted at 1.5250/60, suggesting selling on recovery for a resumption of recent downtrend is still favored.

 

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AceTraderFx Nov 3: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
03 Nov 2015 02:00GMT

GBP/USD - ....... Despite opening higher in tandem with euro and rising briefly but sharply to session high at 1.5498 in European morning after release of a surprise upbeat UK manufacturing PMI, cable soon pared intra-day gains and later fell sharply to 1.5404 in New York morning, weighed down by active cross-unwinding (selling) of sterling vs euro.
Later, price found some support and recovered to 1.5428 in Asian morning.

Today will see the release of UK construction PMI at 09:30GMT (however, Wed's services PMI is most important). Street forecast is for a small drop to 58.8 from previous reading of 59.9.

Bids are now seen at 1.5400/10 and more below at 1.5380/90 with stops building up below there whilst initial offers are noted at 1.5480/90, suggesting near term upside bias is seen, hence buying on dips is favored.

 

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AceTraderFx Nov 5: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
05 Nov 2015 01:42GMT

GBP/USD - ......... Despite briefly rising to session high at 1.5445 in European morning, the British pound tumbled in tandem with euro on dlr's broad-based strength on upbeat U.S. data together with hawkish Yellen comments.
Cable eventually hit intra-day low at 1.5360 in NY afternoon, however, cable pared its losses and recovered to 1.5395 in Australia today before retreating again in Asia.

Market focus is now solely on BoE as it releases a number of decisions, surrounding its monetary policy at 12:00GMT. Although no change is expected in the rate decision and QE total, traders should tune in to Governor Carney's conference at 12:45GMT and look out for any hints he drops regarding the path the central bank will take to raising its rates.

Offers are now seen at 1.5390/00 and more above at 1.5410/20 with stops building up above there whilst initial bids are noted at 1.5320/30, suggesting downside bias would be seen and hence selling on pullback is the way to go.

 

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AceTraderFx Dec 3: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
03 Dec 201506:15GMT

GBP/USD - ...... Cable is nursing loss in subdued Asian trading after yesterday's sharp fall to a 7-month trough of 1.4896. Although traders citing initial wave of selling emerged n knocked the pound from 1.5080 to 1.5033 after downbeat UK construction PMI, intra-day decline gathered momentum shortly after New York open on active broad-based selling in sterling vs eur and yen, then release of robust U.S. ADP private employment data, cable eventually tumbled to 1.4896 after Fed Chair Yellen's hawkish comments before rebounding to 1.4957 in tandem with euro on short-covering.

Looks like cable would find temp. respite, at least in early European trading, however, pay attention to release of key U.K. services PMI at 09:30GMT, street forecast for November reading to come in at 55.0 vs previous figure of 54.9, if actual is weaker then forecast, expect another rebound of sterling bashing but if the reading beats estimate, allow for a modest rebound before sellers emerge.
For now, some bids are noted at 1.4920-00 with light stops below 1.4890.
Offers are reported at 1.4955/65 and more above with stops touted above 1.5000.

 

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AceTraderFx Dec 18: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
18 Dec 2015 00:44GMT

GBP/USD -....... Cable staged a short-covering rebound to 1.4930 ahead of Asian open after conciliatory comments by U.K. PM Cameron, and continued its recent decline on renewed market jitter of a 'Brexit'.

David Cameron wants Britain to stay in the EU, but has hinted he could campaign for an exit if he fails to win an agreement that can reduce the influx of EU migrants, improve business competitiveness, give more sovereignty back to Britain and protect London's banks from discrimination by the euro zone.

His proposal to make European immigrants to Britain wait four years before claiming "in-work" benefits - income supplements to people in lower paid jobs - has been roundly criticised for breaking EU law banning discrimination.

An EU aide said Tusk wanted to give everyone a chance to speak their mind on Thursday night with a view to seeking a deal at the next summit in mid-February. Poland, Hungary, Slovakia and the Czech Republic, known as the Visegrad Group, said in a statement they would reject any British demand to change EU laws that would mean discrimination against their citizens or limit their freedom of movement.

Cameron presented his four-year proposal, but made clear that he was open to other ways to better control immigration to Britain. An EU diplomat said Cameron had earlier sat in silence for more than three hours while other EU leaders debated how to deal with a wave of migrants that has divided European governments. Britain has refused to take in any from Europe.

 

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AceTraderFx Jan 4: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
04 Jan 2016 09:34GMT

GBP/USD - ...... Cable pares intra-day rally after U.K. production data missed forecast. Reuters reported British factory growth slipped in December as new orders came in at the slowest pace in five months, according to a survey that showed scant sign of better fortunes for manufacturing this year after a tough 2015.

Monday's Markit/CIPS manufacturing purchasing managers' index (PMI) dropped to a three-month low of 51.9 from 52.5 in November, at the bottom end of expectations in a Reuters poll that forecast a reading of 52.7.

Manufacturing failed to contribute to Britain's economic growth through the first three quarters of 2015, with the much larger services industry instead driving the recovery.

While an October surge in the factory PMI raised brief hopes of a manufacturing rebound in the fourth quarter, survey compiler Markit said a marginal positive contribution from the sector the now best that could be hoped for.

"The UK manufacturing sector ended 2015 on a disappointing note, with its rate of growth slowing further from October's recent high back down towards the stagnation mark," Rob Dobson, senior economist at Markit, said.