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

Trading Discussion Currencies
61

[B]Intra-day Market Moving News and Views

10 Sep 2015[/B] 03:16GMT

[B]GBP/USD[/B] - ...... Despite a brief rebound from yesterday's European low at 1.5350 to 1.5391 in New York morning, the British pound met renewed selling interest and retreated to 1.5353 in New York afternoon.

Cable continues to remain under pressure in Asian morning as investors await the release of BoE’s policy statement and meeting minutes later today.

BoE will release its interest rate decision, QE total, policy statement n meeting minutes at 11:00GMT.
Although no change is expected on the policy front, traders shud be on the look out for the vote hike count and also the language used by the central bank regarding the country’s economic recovery.

Offers are now seen at 1.5380/90 and more below at 1.5400/10 with stops building up above there whilst initial bids are noted at 1.5320/30, suggesting further choppy trading would be seen till European open.

62

[B]Intra-day Market Moving News and Views
14 Sep 2015[/B] [I]2:00GMT[/I]

[B]GBP/USD[/B] - ..... Despite last Friday's sharp fall to 1.5400 in New York morning on cross-selling of sterling vs euro, the British pound recovered to 1.5442 in New York afternoon before stabilising.

Price found renewed buying in New Zealand on BoE’s Weale comments and price rose to 1.5459 in Asian morning as the rise in Asian equities improved risk appetite.

Since there is no eco. data due today, price is likely to track euro’s intra-day movements closely till European open. Investors would be way of entering any positions ahead of Fed’s crucial meeting, commencing on Wednesday.

Bids are now seen at 1.5440/50 and more below at 1.5420/30 with stops building up above there whilst initial offers are noted at 1.5490/00, suggesting buying on dips is the favored strategy.

[B]Data to be released: [/B]

Japan Capacity Utilization, industrial output, Tertiary industry index, Switzerland producer/import price, Italy consumer prices, euro zone industrial production on Monday.

Australia RBA meeting minutes, Japan BoJ rate decision, BoJ statement and press conference, France CPI, UK CPI, PPI, RPI, Germany ZEW, euro zone employment, trade balance, U.S. retail sales, NY Fed manufacturing index, Redbook, capacity utilization, industrial output and business inventories on Tuesday.

New Zealand current accounts, Australia Westpac leading index, Japan BoJ monthly economic survey, UK average earnings, claimant count unemployment change, ILO unemployment rate, Eurozone inflation, Switzerland ZEW investor sentiment, U.S. CPI, weekly earnings, NAHB housing market index, net long-term flows on Wednesday.

New Zealand GDP, Japan trade reports, Switzerland 3-month target LIBOR rate, Italy trade balance, UK retail sales, U.S. building permits, current account, housing starts, Philly Fed business index, and Federal funds target rate on Thursday.

China house prices, euro zone current accounts, Canada CPI, and U.S. leading index change on Friday.

63

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

[B]GBP/USD[/B] - ...... Despite cable's retreat after a brief rise to 1.5358 in Asia, buying interest at yesterday's low at 1.5330 lifted price in European morning and price later rallied to 1.5409 following the release of upbeat UK jobs reports.

On Wednesday, Office for National Statistics said that the claimant count rose by a seasonally adjusted 1,200 last month, compared to expectations for a decline of 5,000, however, July’s figure was revised to a decline of 6,800 people from a previously reported fall of 4,900.
In a separate report, average earnings, including bonuses rose by 2.9% last month after a 2.6% increase in July, ahead of forecasts of 2.5%.
Meanwhile, National Statistics said that U.K. Unemployment Rate fell to a seasonally adjusted 5.5%, from 5.6% in the preceding month. Market had expected U.K. Unemployment Rate to remain unchanged at 5.6% in August.

At present, bids are reported at 1.5380-70 and more around 1.5350-40 with mixture of bids and stops just below 1.5330.
On the upside, offers are noted at 1.5410-20 and above at 1.5430-40 with stops above there.

64

[B]Intra-day Market Moving News and Views
21 Sep 2015[/B] [I]03:12GMT[/I]

[B]GBP/USD[/B] - ..... Cable moved narrowly in lakclutre Asian morning on Monday following Friday's intra-day selloff from a fresh 3-week peak of 1.5659 (Europe) to 1.5516 in New York session due to what some termed broad-based technical rally in the USD.

Although the pound weakened in tandem with euro and fell one tick below Friday’s 1.5516 low to 1.5515 ahead of Asian open, intra-day recovery lifted cable to 1.5543 in Asia, suggesting sideways trading is in store.

With no U.K. economic data due out, in fact, there are no major economic releases this week from the U.K., the pound is likely to track intra-day swings in the euro.
Order book is very light today with some bids noted at 1.5520-10 and stops touted below 1.550.
Some offers are reported at 1.5550/60 and more above with stops above 1.5590/00.

65

[B]Intra-day Market Moving News and Views
22 Sep 2015[/B] [I]3:00GMT[/I]

[B]GBP/USD[/B] - ..... Deputy governor Jon Cunliffe said in a newspaper interview published on Monday that  prices pressures are not building up in Britain, but the next interest rate move from the Bank of England is still likely to be up. He also said that the British economic growth was "pretty good" and was not the result of a debt-fuelled boom and that inflationary pressures remained firmly in check.

“You couldn’t look at the economy now and say that there’s strong upward price pressure,” Cunliffe told the Journal, a regional newspaper based in Newcastle, north-east England.
“What we’re not seeing is price pressure building up in the chain. With that drop in unemployment pre-crisis you would have expected to see pressure on pay much earlier. It didn’t come.”

He repeated the BoE’s guidance that the interest rate hikes from their present record low 0.5% are likely to be gradual and limited.
BoE chief economist Andy Haldane said the BoE could need to cut interest rates as its next move in a speech he gave in Northern Ireland on Fri.

This morning despite yesterday’s sharp retreat from 1.5568 to 1.5481 due to euro’s selloff, the British pound found some support and pared its losses. Price rebounded to 1.5510 and continued to trade with a firm bias in early Asian trade, helped by cross-buying of sterling vs euro.

UK will release its PSNB at 08:30GMT. Street forecast is for a rise to 8.65B vs previous reading of -2.06B.

Offers have now been raised to 1.5530/40 n more above at 1.5550/60 with stops building up abv there whilst initial bids are noted at 1.5480/90, suggesting choppy trading with mild upside bias wud be seen ahead of European open.

66

[B]Intra-day Market Moving News and Views
23 Sep 2015[/B] [I]01:34GMT[/I]

[B]GBP/USD[/B] - ...... Although the British pound finally gained some respite after yesterday's selloff to 1.5341 and recovered to 1.5383 in New York afternoon, price met renewed selling there and fell again to 1.5343 at Asian open and continues to remain under pressure.

Cable’s selloff yesterday was attributed to a report, which showed UK’s deteriorated unexpectedly to their lowest level in 3 years.

Britain’s headline measure of public borrowing rose to 12.1 billion pounds ($18.7 billion) in August from 10.7 billion pounds a year earlier, the Office for National Statistics said. Forecasts were it would narrow to 9 billion pounds.

Since there is no eco. data due today, price is likely to follow euro’s intra-day movements.
However, one should keep an eye on the EUR/GBP cross, especially during Draghi’s speech later today.

Offers have now been lowered to 1.5370/80 and more above at 1.5390/00 with stops building up above there whilst initial bids are noted at 1.5300/10, suggesting selling on pullback is still favored.

67

[B]Intra-day Market Moving News and Views
24 Sep 2015[/B] [I]01:00GMT[/I]

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

68

[B]Intra-day Market Moving News and Views
29 Sep 2015[/B] [I] 01:36GMT[/I]

[B]GBP/USD[/B] - ..... Despite a rise to session high at 1.5241 in European morning yesterday, the British pound met renewed selling and dropped to 1.5158 in New York morning on active-cross selling of sterling especially vs euro.

Later, cable briefly recovered to 1.5212 before falling again to 1.5165 in New York afternoon, then 1.5160 in Asian morning.

Although UK is set to release a number of eco. data today including house prices, mortgage approvals and CBI distributive trades, market focus will be on BoE Governor Mark Carney’s speech at 19:40GMT at Lloyds London.
Though it is expected he won’t divulge any policy secrets, one should pay attention to the language used by him on the central bank’s future path regarding rates.

Offers are now seen at 1.5180/90 and more above at 1.5210/20 with stops building up above 1.5240 whilst initial bids are noted at 1.5110/20, suggesting selling cable on recovery for a resumption of recent downtrend is the way to go.

69

[B]Intra-day Market Moving News and Views
30 Sep 2015[/B] [I]01:52GMT[/I]

[B]GBP/USD[/B] - ...... Despite a brief rise to session high at 1.5205 in tandem with euro in European morning, the British pound resumed its recent losing streak and dropped to intra-day low at 1.5128 in New York morning. Price staged a recovery to 1.5171 at New York midday.

However, renewed selling there sent the pair back down and cable continues to remain under pressure in Asian morning.

Investors are keenly awaiting the release of UK GDP QQ and YY at 08:30GMT. Street forecasts are 0.7% and 2.6%. The release of these figures will give a clearer idea about the path the BoE could take in terms of its rate setting policy.

Offers are now seen at 1.5170/80 and more above at 1.5190/00 with stops building up above 1.5210 whilst initial bids are noted at 1.5100/10, suggesting selling on recovery for a resumption of recent downtrend is still favored.

70

[B]Intra-day Market Moving News and Views
2 Oct 2015[/B] [I]01:45GMT[/I]

 [B]GBP/USD[/B] - 1.5142... 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.

71

[B]Intra-Day Market Moving News and Views
05 Oct 2015[/B] [I]09:00GMT[/I]

[B]GBP/USD[/B] - ...... Although the British pound edged higher in tandem with euro in Asia and rose fm 1.5168 to 1.5245 in European morning, release of downbeat UK service PMI data knocked price down sharply to 1.5172 before recovering.

The Chartered Institute of Purchasing & Supply and the NTC Economics said that U.K. Services PMI fell to a seasonally adjusted annual rate of 53.3 in September, from 55.6 in the preceding month.

At present, offers are reported at 1.5200-10 and more around 1.5220 with mixture of offers and stops at 1.5240-50.
On the downside, bids are noted at 1.5160-50 and then 1.5130-20 with stop just below last Wed’s 4-1/2 month trough at 1.5107.

72

[B]Intra-day Market Moving News and Views
13 Oct 2015[/B] [U]02:08GMT[/U]

[B]GBP/USD[/B] - ...... The British pound traded with a firm bias in Asia and rose to session high at 1.5373 at European midday, however, failure to penetrate last Friday's high at 1.5382 triggered profit-taking and price retreated to 1.5335 in European afternoon and tumbled further at Asian open to 1.5301 on cross-selling of sterling vs euro.

UK will release its inflation data at 08:30GMT.
Street forecasts for CPI mm and yy are 0.0% and 0.0% vs previous readings of 0.2% and 0.0% respectively.

Bids have now been lowered to 1.5290/00 and more below at 1.5270/80 with stops building up below last Thursday’s low at 1.5261 whilst initial offers are noted at 1.5370/80, suggesting buying on dips is favored.

73

[B]Intra-day Market Moving News and Views
20 Oct 2015 [/B] [I]01:34GMT[/I]

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

74

[B]Intra-day Market Moving News and Views
26 Oct 2015[/B] [I]01:3GMT[/I]

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

75

[B]Intra-day Market Moving News and Views
27 Oct 2015 [/B] [I]01:36GMT[/I]

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

76

[B]Intra-day Market Moving News and Views
28 Oct 2015[/B] [I]02:00GMT[/I]

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

77

[B]Intra-day Market Moving News and Views
03 Nov 2015[/B] [I]02:00GMT[/I]

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

78

[B]Intra-day Market Moving News and Views
05 Nov 2015[/B] [I]01:42GMT[/I]

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

79

[B]Intra-day Market Moving News and Views
06 Nov 2015 [/B] [I]02:00GMT[/I]

[B]GBP/USD[/B] - ........ Despite trading sideways in Asia and edging up to session high at 1.5402 in European morning, the British pound tumbled after the Bank of England hinted that rates could remain on hold for some time heading into next year.

Cable continued to ratchet lower to and hit an intra-day low at 1.5207 in late New York afternoon. Price finally gained some respite and staged a minor rebound to 1.5220 in Asian morning today before retreating again.

Traders should pay attention to the release of UK industrial and manufacturing output at 09:30GMT.
Offers are now seen at 1.5230/40 and more above at 1.5250/60 with stops building up above there whilst initial bids are noted at 1.5180/90, suggesting selling on pullback for a resumption of recent downtrend is still favored.

80

[B]Intra-day Market Moving News and Views
10 Nov 2015[/B] [I]2:01GMT[/I]

[B]GBP/USD[/B] - ........ The British pound also gained some respite on Monday and rose to 1.4115 in European morning on short-covering, then higher to session high at 1.5129 in New York session, helped by cross-buying of sterling vs euro before easing.

Cable continued to trade with a firm undertone in Australia and Asia today and gained to 1.5124 before retreating.

Traders are now awaiting the inflation report hearing at 09:00GMT, which will provide a greater insight into the country’s economic outlook and as to when the Bank of England will look to raise its rates.

Offers have been raised to 1.5140/50 and more above at 1.5170/80 with stops building up above there whilst initial bids are noted at 1.5070/80, suggesting choppy trading would be seen ahead of the inflation report.