UK labour data positive - sterling lower

18 May, 2016

UK labour data showed an unexpected rise in pay, Average household income (excluding bonuses) lifting to a +2.0% y/y rate in the three months to March, up from 1.8% at the last measure. The bonus-included figure remained unchanged at +2.1% y/y. Unemployment for March remained unchanged at the cycle low of 5.1%, while the April claimant count dipped by 2.4k and the claimant rate remained unchanged at 2.1%. The pound very briefly rallied on the data in a knee-jerk reaction to the BoE-watched pay headline, but quickly turned lower.  GBPUSD currently trading at day lows of 1.4410, with the One Hour chart  having broken below some key moving averages and outside the lower Bollinger band.

The Brexit issue continues to dominate the horizon for sterling markets. The latest FT poll of polls has the Remain group on 46% the Leave campaign on 44% and the undecided down to 10%. A little over five weeks to referendum day and the polls continue to be erratic, no wonder GBP keeps finding sellers.


Source link  
Looking to sell USDJPY if it rallies further

Earlier today the yen eked out fresh lows against the dollar and euro, among other currencies, in what has been generally lacklustre trade in Asia. A solid set of Chinese data failed to lift spirits in most Asian stock markets, with investors in need of a breather after a week of strong rallies...

German consumer confidence surprised

German March GfK consumer confidence unexpectedly rose to 9.5 from 9.4 in the previous month. Expectations had been for a dip amid market turmoil and growing uncertainty about the economy outlook, but at least German consumers are more upbeat...

Weak Reacted Lower As Bought Less Gold Than Expected

Gold traded slightly below a major support level at 1130.40 on Friday and then moved even lower in Globex session at 2:30 am London time this morning. Price of Gold is down by 1.58% at the time of writing after Gold futures market was hit hard when it was at its weakest...


Currency movers for July 01, 2015

EURUSD found support at the lower end of my support range (1.1110 – 1.1140) yesterday and was moving sideways inside this range overnight. At the time of writing price is again at intraday support at 1.1100 after reacting higher from it earlier today...

Update on Greece

The euro is under pressure in early-week trade as Greece’s talks with the Eurogroup broke down over the weekend, and the ECB refused to top up ELA assistance. Greece has consequently imposed capital controls and announced a referendum for next Sunday...

  


Share: