Tag Archives: GBP
GBP Analysis
Opened early Europe at $1.6233 stg0.8164, GBP closed in NY at $1.6220 after rate had recovered off session lows of $1.6186 to $1.6230. Trade in Asia was contained within a reasonably tight range of $1.6219/37, remaining buoyed above $1.62 following two visits below Tuesday.
Currencies in a holding pattern; China’s “other” PMI contracts
Having seen the mildly bullish official China manufacturing PMI data yesterday, it was the turn of the HSBC equivalent today. A similar trend was displayed with the index rising to 49.3 in April compared to 48.3 in March (official PMI was 53.3).
GBP Analysis
Opened early Europe at $1.6230 stg0.8164, GBP closed in NY at $1.6238, after rate had recovered off traded lows at $1.6222 to $1.6240. Rate edged up to retest $1.6240 in early Asia before drifting lower through the balance of the session to an eventual low of $1.6223 ahead of the European open.
GBP Analysis
Opened early Europe at $1.6281 stg0.8138, GBP closed in NY at $1.6260, off late session highs of $1.6280. Thin trade conditions, with Japan and China missing today, saw rate track the initial pullback in EUR/USD, the rate posting overnight lows at $1.6257 before picking up fresh demand that lifted it through Friday’s high to extend […]
Speculative Positions
Positive GBP sentiment SEB Risk appetite index (RAI) Risk appetite ended the week slightly better but off the weekly highs.
GBP Analysis
Opened early Europe at $1.6172 stg0.8154, GBP closed in NY at $1.6179, the rate having retained an underlying buoyant tone through Thursday’s session, holding just off extended highs at $1.6208, with pullbacks in this session contained by $1.6167.
GBP Analysis
Opened early Europe at $1.6168 stg0.8179, GBP closed in NY at $1.6167, after rate had bounced back from post GDP release lows of $1.6082 to $1.6183 as it took full advantage of the dollar sell off as market reacted to dovish comments from Ben Bernanke (seen leaving door ajar to possible QE3) in his post […]
FOMC ready to dance with market expectations
The USD was even having a hard time holding onto gains against sterling today, which weakened on a very negative GDP report for Q1. Has the market appropriately priced in the FOMC risks here?
FX Daily Strategist: US
Weak UK GDP holding back GBP for now – looking to short EURGBP The worse-than-expected UK GDP print was the focal point this morning, against a back drop of rebounding risk appetite and equity markets. The first release of UK Q1 GDP showed that the UK economy contracted 0.2%, weaker than expectations of 0.1% q/q […]
GBP Analysis
GBP closed in NY at $1.6144, the rate having recovered from a pullback low of $1.6127 after extending recent highs earlier in the day to $1.6164. Rate consolidated its recent recovery, trade through the Asian session contained within a range of $1.6136/51, with early sales into Europe retesting the overnight low before marking a fresh […]
GBP Analysis
Cable closed in NY at $1.6125 after recovering to $1.6135 in this session and holding above $1.6100 ($1.6109 pullback low) into the close. Trade in a generally subdued Asian session was contained within a tight $1.6110/30 range, with early trade into Europe seeing cable initially struggle to edge higher in tandem with EUR/USD, which allowed […]
GBP Analysis
GBP closed in NY at $1.6119 after rate had been pressured to a late session high of $1.6150. Rate traded the early part of Asia within a range of $1.6120/30 before getting pressed to a low of $1.6108, as EUR/GBP corrected its opening mark down from stg0.8185 to stg0.8176, before picking up fresh demand.