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

Trading Discussion Currencies
41

[B]Intra-day Market Moving News and Views
30 Jun 2015[/B] [I]08:42GMT[/I]

[B]GBP/USD[/B] - ...... Although cable edged lower in tandem with euro and fell from Asian high of 1.5737 to 1.5693 in European morning, price briefly jumped to 1.5745 after release of upbeat yearly revision of UK Q1 GDP and narrower-than-expected trade deficit.

However, lack of follow-through buying capped gain there and price then settled around 1.5720.

The U.K.'s Office for National Statistics said on Tuesday that UK GDP expanded at a seasonally adjusted rate of 0.4% in the first quarter, up from a previous estimate of 0.3% and in line with expectations.
Annualized GDP grew at a rate of 2.9% in the first quarter, up from an initial forecast of 2.4% and beating expectations for a 2.5% increase.
In a separate report, ONS said that the U.K. current account recorded a seasonally adjusted deficit of 26.5 bln pounds in the first quarter, narrowing from a deficit of 28.9 bln in the fourth quarter, whose figure was revised from a deficit of 25.3 bln pounds.

42

[B]Intra-day Market Moving News and Views
03 Jul 2015[/B] [I]02:46GMT[/I]

[B]GBP/USD[/B] - 1.5608... Although cable staged a rebound from a fresh 2-1/2 week trough at 1.5580 in European morning on Thur n climbed to 1.5624 after release of upbeat Markit/CIPS construction PMI, active cross-selling in sterling knocked price lower to 1.5562 in NY morning before broad-based weakness in the greenback lifted price briefly to 1.5640 after tepid U.S. jobs data. Later, cable edged lower to 1.5592 near NY close and then climbed back to 1.5624 in Asia on Friday.

Today’s focus for the British pound is on the release of important Markit/CIPS service PMI at 08:30GMT.
Street forecast is for reading to improve to 57.4 in June compares to 56.5 in previous month. Until then, sideways range trading inside yesterday’s intra-day range of 1.5562-1.5640 is likely to be seen.

At the moment, bids are tipped in 1.5580-60 region with stops building below 1.5550, whilst offers are reported at 1.5630-40 with selling interest from various accounts up from 1.5660 to 1.5680.

[B]Friday[/B] will see the release of Australia’s retail sales, China’s HSBC services PMI, Germany’s and U.K. Markit services PMI, eurozone retail sales. U.S. will be closed for Independece Day holiday on Friday.

43

[B]Intra-day Market Moving News and Views
03 Jul 2015[/B] [I]08:33GMT[/I]

[B]GBP/USD [/B]- 1.5625... Despite cable's choppy sideways move in a relatively narrow range of 1.5602-1.5623 in Asian and early European session, price jumped briefly to 1.5649 following the release of upbeat UK service PMI.

On Friday, The Chartered Institute of Purchasing & Supply and the NTC Economics Service sector activity in the U.K. rose more-than-expected last month.
It said that U.K. Services PMI rose to a seasonally adjusted annual rate of 58.5, from 56.5 in the preceding month.

At the moment, bids from various accounts are building up at 1.5610-00 and more around 1.5590 with mixture of bids and stops at 1.5570-60.
On the upside, offers are tipped at 1.5645/50 and more around 1.5670 with stops emerging further out above 1.5700.

44

[B]Intra-day Market Moving News and Views
09 Jul 2015[/B] [I]03:05GMT[/I]

[B]GBP/USD[/B] - ...... The British pound continued its recent losing streak on Thursday as despite staging a brief bounce to 1.5467 at European open on Tuesday, price penetrated Tuesday's sup at 1.5413 and then dropped to a fresh near 1-month low at 1.5330 in NY before rebounding on short-covering after the release of FOMC minutes.

Today’s focus for the British pound is on the release of latest BoE monetary policy announcement (although market is widely expected it is to be non-event). Market participants expects the central bank is very likely to leave its monetary policy stance unchanged in Jul with the base rate at the record low of 0.5% n the QE volume at 375 billion pounds.

At present, offers are noted at 1.5390-00 and more around 1.5420 with mixture of offers and stops at 1.5440-50.
On the downside, demand from real money accounts is tipped at 1.5350 with mixture of bids and stops in 1.5330-10 region.

[B]Thursday[/B] will see the release of New Zealand’s Business NZ PMI, U.K. RICS Housing Survey, Japan’s Machinery Orders, Australia’s Consumer Inflation, China’s CPI, Australia’s Unemployment Rate, Germany’s Trade Balance, Exports, Imports, U.K. BOE rate decision, Canada’s Housing Starts, New Housing Price Index, U.S. Initial Jobless Claims.

45

[B]Intra-day Market Moving News and Views
22 Jul 2015[/B] [I]02:59GMT[/I]

[B]GBP/USD[/B] - ...... Cable fell below Monday's low at 1.5538 to 1.5529 in European morning on Tuesday on 'active' long liquidation in sterling crosses before recovering to 1.5574 in NY and then rose briefly to 1.5577 in Asian morning on Wednesday due to broad-based weakness in the greenback.

Today, BoE will release the MPC vote outcome n minutes of the MPC meeting ending 8 July at 08:30GMT.
Market expects to minutes may show policymakers held back on interest rate hike due to the Greek debt crisis and uncertainty surrounding the summer Budget.

At the moment, bids are noted at 1.5540-30 and then 1.5510/05 with mixture of bids and stops at 1.5500-1.5490.
On the upside, offers are reported at 1.5590-00 and around 1.5620 with selling interest from various accounts tipped at 1.5630-50 region.

[B]Wednesday [/B]will see the release of Australia’s Westpac leading index and CPI, BoE minutes, vote outcome, inflation report hearing, CBI distributive trades, U.S. monthly home price index, Markit service PMI, existing home sales and eurozone consumer confidence.

46

[B]Intra-day Market Moving News and Views
27 Jul 2015[/B] [I]02:16GMT[/I]

[B]GBP/USD[/B] - ...... Although cross-selling in sterling pressure price lower to 1.5467 in European morning on Friday, price recovered later in the day and climbed back to 1.5527 in tandem with euro in NY session.

Cable found support at 1.5499 near NY close and then edged higher in tandem with eur/usd to 1.5539 in Asia on Monday before easing.

Due to the absence of U.K. eco. data and events today, the British pound is expected to track euro’s intra-day swing closely.
At present, bids from various accounts are reported at 1.5515-05 and then 1.5500-1.5490 with stops building up below 1.5470.
On the upside, offers are placed at 1.5550-60 and around 1.5580 with mixture of offers and stops at 1.5590-00.

[B]This week[/B] will see the release of Japan’s CSPI, New Zealand’s ANZ business confidence, Germany’s import price, Ifo business climate, U.K. CBI trends, U.S. durable goods and building permits [B]on Monday. [/B]

Australia’s NAB business confidence, U.K. GDP, Canada’s producer prices, U.S. Redbook, Markit services PMI and consumer confidence [B]on Tuesday.[/B]

Japan’s retail sales, Germany’s GfK consumer sentiment, Swiss UBS consumption indicator, U.K. mortgage approvals and CBI distributive trades, U.S. pending home sales change, FOMC rate decision and Fed’s monetary policy statement on [B]Wednesday. [/B]

New Zealand’s building consents, Japan’s industrial output and IP forecast, Australia’s building approvals, import and export prices, Swiss KOF indicator, Germany’s unemployment, eurozone business climate, consumer inflation expectation, consumer confidence, unemployment rate, eurozone unemployment rate, Germany’s CPI and HICP, U.S. initial jobless claims [B]on Thusday.[/B]

U.K. GfK consumer confidence, Japan’s all household spending, CPI and unemployment rate, Australia’s PPI, Japan’s construction orders and housing starts, eurozone inflation, Canada’s GDP, U.S. employment costs, Chicago PMI and Reuters/Michigan consumer sentiment index [B]on Friday.[/B]

47

[B]Intra-day Market Moving News and Views
28 Jul 2015[/B] [I]02:41GMT[/I]

[B]GBP/USD[/B] - ..... Despite cable brief but sharp retreat from 1.5544 to 1.5490 in European morning on Monday due active cross-selling of sterling vs eur & yen, price ratcheted higher in tandem with euro in NY morning to 1.5595 before retreating.

Later, cable edged lower to 1.5553 in NY afternoon and then moved sideways in Asian morning.

Expecy yesterday’s high to hold from here as market focus is on the release of U.K. Q2 GDP at 08:30GMT. Forecast for the preliminary estimate of UK 2nd quarter GDP from the Office for National Statistics (ONS) to show a 0.7% quarter-on-quarter increase following a 0.4% rise in the first 3 months of the year.

At the moment, bids are noted at 1.5550-40 and more below with stops reported below 1.5520.
On the upside, offers are tipped at 1.5580-90 and more above with stops building above 1.5600.

[B]Tuesday[/B] will see the release of Australia’s NAB business confidence, U.K. GDP, Canada’s producer prices, U.S. Redbook, Markit services PMI and consumer confidence. Market players are now focusing on this Wednesday’s Federal Reserve policy meeting.

48

[B]Intra-day Market Moving News and Views
30 Jul 2015 [/B] [I]02:47GMT[/I]

[B]GBP/USD [/B]- ..... The British pound also swung wildly on Wednesday as despite rallying from 1.5588 (Europe) to a fresh near 1-month high of 1.5691 in NY morning after release of downbeat U.S. pending home sales data, selling interest below 1.5700 level knocked price lower and cable later fell to 1.5612 on long-liquidation and then 1.5594 after release of FOMC statement.

The British pound met came under renewed selling pressure at Asian open on Thursday and fell from 1.5611 to 1.5590 before recovering.

As no U.K. economic data are due out today, the pound is expected to follow intra-day swings in eur/usd.
For now, initial offers are noted at 1.5620-30 with stops reported above 1.5650, whilst some bids are tipped at 1.5580-70 and more below with stops touted just below 1.5550.

49

[B]Intra-day Market Moving News and Views
05 Aug 2015 [/B] [I]08:13GMT[/I]

[B]GBP/USD [/B]- ...... 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.

50

[B]Intra-day Market Moving News and Views
06 Aug 2015[/B] [I]06:02GMT[/I]

[B]GBP/USD[/B] - 1.5623.. Sterling has maintained a firm undertone in Asia following yesterday's strong rebound from a 2-week low of 1.5526 as market participants are bracing themselves for what many termed BoE's 'Super Thursday' where the central bank's rate decision, MPC minutes (released for the 1st time ever concurrently with the rate announcement) as well as BoE's economic outlook in its quarterly Inflation Report, will be released all at the same time at 11:00GMT, then Governor Mark Carney's press conference 45 minutes later.

It is obvious market’s immediate attention is on the MPC’s vote outcome. Market is expecting 2 dissenters from the 9-member policymakers, however, if this is the case, the pound may briefly climb but may not be able to penetrate July’s 1.5691 top as traders have already positioned themselves long into the triple-whammy release.
In the unlikely event MPC reveals only one or no dissenter and the Inflation Report does not contain bullish outlook for the economy (you’ll need to be a ‘quick’ reader to hit the dealing button in time), then be prepared for a 150-200 points sell-off in cable. Good luck and be nimble and be quick !

51

[B]Intra-day Market Moving News and Views
13 Aug 2015[/B] [I]03:18GMT [/I]

[B]GBP/USD[/B] -...... Despite yesterday's retreat fROm 1.5661 to 1.5602 in NY afternoon, the British pound found renewed buying and staged a rebound to 1.5636 in Asian morning today after the PBOC devalued the yuan for the 3rd consecutive day.

However, cable pared its gains and retreated to 1.5610.

Since there is no eco. data due from UK today, price is likely to consolidate below yesterday’s high at 1.5661 for the remainder of Asian and early European sessions.
The next price driver is likely to be the release of U.S. jobless claims and retail sales data at 12:30GMT.

Offers are now seen at 1.5640/50 with stops building up above 1.5660/65 whilst initial bids are noted at 1.5570/80, suggesting selling on recovery is favored.

52

[B]Intra-day Market Moving News and Views
18 Aug 2015[/B] [I]01:51GMT[/I]

[B]GBP/USD[/B] - ..... The mildly hawkish comments by MPC official (our 01:23GMT update) over the weekend proved to be a red herring. Although Asian traders showed muted reaction to the newspaper report, London traders, in the absence of any U.K. data on Monday, used the news to take the pound higher on stop-hunting.

However, market chatter of offers just below July’s 1.5691 checked intra-day gain at 1.5690 and cable quickly retreated and fell due to continued liquidation on intra-day ‘speculative’ long positions.
Price tumbled to 1.5619 at New York open, and despite a short-covering recovery to 1.5643, another wave of road-based pound bashing sent price tanking to 1.5578.
Cable weakened to 1.5576 at Asian open before stabilising.

Expect cable to gain temporary respite ahead of European open but price may well come under renewed selling when the key U.K. inflation data comes out at 08:30GMT.
Annual CPI is expected to stay a ‘flat’ rate and street forecast for July’s M/M reading is -0.3% vs previous figure of 0.0%.
Therefore, if the monthly reading comes in a forecast or lower, then cable should head south.

Offers are tipped at 1.5590/00 and more above with some stops reported at 1.5620, some bids are noted at 1.5575-65 with stops reported below 1.5535.

[B]Data to be released on Tuesday include: [/B]

Australia’s RBA meeting minutes, China’s house prices, UK’s CPI, PPI, DCLG house price index and RPI, U.S.'s building permits, housing starts and Redbook.

53

[B]Intra-day Market Moving News and Views
21 Aug 2015[/B] [I]04:12GMT[/I]

[B]GBP/USD[/B] - 1.5687... Despite yesterday's sell-off to 1.5606 in European morning after the release of downbeat UK retail sales, the British pound swiftly pared its losses and rebounded to 1.5695 in NY morning before edging up to 1.5700 and NY closing.

Having said that, cable has continued to trade under pressure in Asian morning, due partly to cross-selling of sterling vs euro.

UK will release its PSNB and PSNCR figures at 08:30GMT, however, one shoud keep an eye on the eur/gbp cross, which should influence price movements as EZ will see a slew of manufacturing PMIs released today.

Bids are now seen at 1.5660/70 and more below at 1.5640/50 with stops building up below there whilst initial offers are noted at 1.5715/20, suggesting choppy trading is envisaged till European open.

54

[B]Intra-day Market Moving News and Views
24 Aug 2015[/B] [I]03:53GMT[/I]

[B]GBP/USD[/B] - ......Despite rising to 1.5698 in Australia, the British pound met renewed selling interest due to active cross-selling in sterling vs euro and retreated to 1.5661 at Asian open.

However, broad-based sell-off in Asian stocks triggered dlr weakness and cable staged a rebound to 1.5685 in Asian morning.

Since there is no major eco. data out today, price is likely to track euro’s intra-day movements till European open. Having said that, one should keep a keen eye on the eur/gbp cross too.

Bids are now seen at 1.5660/65 and more below at 1.5630/40 with stops building up below 1.5600 whilst initial offers are noted at 1.5720/30.

55

[B]Intra-day Market Moving News and Views
26 Aug 2015[/B] [I]06:00GMT[/I]

[B]GBP/USD [/B]- ..... The British pound gained some respite after yesterday's selloff from 1.5820 to 1.5694 in NY afternoon and edged up to 1.5720 in Asian morning today.

However, renewed selling interest there pressured the pair back down to 1.5686 in early European morning and continues to remain under pressure.

Since there is no important eco. data due from UK today, price is likely to track euro’s intra-day movements closely. Having said that one should keep a keen eye on the eur/gbp cross.

Offers are now seen at 1.5690/00 and more above at 1.5720/30 with stops building up above there whilst initial bids are noted at 1.5650/60, suggesting choppy trading is envisaged.

56

[B]Intra-day Market Moving News and Views
27 Aug 2015[/B] [I]07:08GMT[/I]

[B]GBP/USD [/B]- ..... The British pound is nursing loss after yESTWERday's sharp selloff to as low as 1.5453 near New York closing on dlr's broad-based strength.

Cable staged a short-covering rebound to 1.5509 in Asian morning, however, renewed selling there pressured the pair back down to 1.5483 at European open.
Price showed muted reaction to the release of broadly in-line UK Nationwide house prices and continues to trade under pressure.

Offers are now seen at 1.5510/20 and more above at 1.5530/40 with stops building up above there whilst initial bids are noted at 1.5430/40, suggesting selling on recovery for a resumption of recent downtrend is still favored.

57

[B]Intra-day Market Moving News and Views
28 Aug 2015[/B] [I]07:09GMT[/I]

[B]GBP/USD[/B] - ...... The British pound finally gained some respite after yesterday's selloff to 1.5370 in NY morning and staged a recovery to 1.5431 in NY afternoon yesterday.

Price found renewed buying at 1.5400 AnD rose to 1.5442 in Asian morning in tandem with euro, however, cross-selling of sterling vs euro pressured the pair back down and price retreated to 1.5410 in early European morning.

Mkt focus is now on the release of UK GDP at 08:30GMT. Street forecast is for the figures to remain unchanged from the 1st estimate of 0.7% QQ and 2.6% YY.

Offers are now seen at 1.5450/60 and more above at 1.5470/80 with stops building up above there whilst initial bids are seen at 1.5380/90, suggesting choppy trading is envisaged.

58

AceTraderFx Aug 28: Intra-day Market Moving News and Views (GBP/USD)
[B]Intra-day Market Moving News and Views
28 Aug 2015 [/B] [I]09:28GMT[/I]

[B]GBP/USD [/B]- ....... Although cable had staged a brief recovery from 1.5398 to 1.5429 in European morning after data showed that the U.K. grew in line with expectations in the second quarter, selling interest below Asian high of 1.5442 capped such gain there n the British pound then fell marginally below Thursday's low at 1.5370 to 1.5364 before short-covering emerged n lifted price to 1.5406.

The Office for National Statistics said the U.K. GDP rose 0.7% in the second quarter, in line with expectations and unchanged fm a preliminary estimate. On a yearly basis, the U.K. economy grew at a rate of 2.6% in the last quarter, also in line with market expectations.

At the moment, offers are seen reported at 1.5420-30 and more above with stops building up just above 1.5450, whilst bids are noted at 1.5370-60 with mixture of bids and stops in 1.5340-20 region.

59

[B]Intra-day Market Moving News and Views
04 Sep 2015[/B] [I]08:39GMT[/I]

[B]GBP/USD[/B] - ..... Despite staging a rebound fm y'day's low at 1.5219 to 1.5269 in NY afternoon, the British pound met renewed selling and dropped gain.

Cable continued to ratchet lower in Asian morning n hit a session low at 1.5214 in early European morning, weighed down by cross-selling of sterling vs euro.
However, price pared its losses and staged a short-covering rebound to 1.5266.

Offers are now seen at 1.5270/80 and more above at 1.5290/00 with stops building up above there whilst initial bids are noted at 1.5220/30, suggesting further choppy trading would be seen ahead of New York open.

60

[B]Intra-day Market Moving News and Views
09 Sep 2015[/B] [I]004:3GMT[/I]

[B]GBP/USD[/B] - ...... The British pound surged to 1.5413 yesterday on news of a M&A deal between UK's Amlin and Japan's Mitsui Sumitomo Insurance. Despite a brief pullback to 1.5357 on profit-taking, cable found renewed buying there and rebounded 1.5403 in New York afternoon, then marginally higher to 1.5405 in Asian morning.

Market focus is on the release of UK industrial production mm and manufacturing output mm. Street forecasts are 0.1% n 0.2% vs previous readings of -0.4% and 0.2.% respectively.

Bids are now seen at 1.5370/80 and more below at 1.5350/60 with stops building up below there whilst initial offers are noted at 1.5440/50, suggesting buying on dips is favored.