[B]Intra-day Market Moving News and Views
11 Nov 2015[/B] [I]2:02GMT[/I]
[B]GBP/USD[/B] - ....... Despite edging lower to session low at 1.5092 in European morning, the British pound rose briefly to intra-day high at 1.5146 at New York open before easing.
Cable met renewed buying at 1.5102 n continued to ratchet higher in late New York before rising sharply in Asian morning to 1.5186, helped by cross-buying of sterling vs euro.
Pay attention to the release of UK unemployment data at 09:30GMT. Street forecast for claimant count is 1.5K vs previous reading of 4.6K whilst unemployment rate is expected to remain unchanged at 5.4%.
Bids are now raised to 1.5130/40 and more below at 1.5110/20 with stops building up below there whilst initial offers are seen at 1.5200/10, suggesting buying on dips for near term gain is the way to go.
[B]Intra-day Market Moving News and Views
12 Nov 2015[/B] [I]02:22GMT[/I]
[B]GBP/USD[/B] - ........ Despite yesterday's brief retreat from Asian high at 1.5186 to 1.5134 in European morning, the British pound found renewed buying there and rose after data showed a drop in UK unemployment.
Cable continued to ratchet higher gained to 1.5220 in North American session and then higher to 1.5247 in Asian morning today before easing off.
Since there is no major eco. data due today, price is likely to track euro’s intra-day movements with bids seen at 1.5190/00 and more below at 1.5170/80 with stops building up below there whilst offers are noted at 1.5250/60, suggesting near term upside bias would be seen.
[B]Intra-day Market Moving News and Views
13 Nov 2015[/B] [I]02:13GMT[/I]
[B]GBP/USD[/B] - ...... Despite eur's intra-day rally in New York morning and afternoon sessions, cable only manage to stage a rebound from European low of 1.5174 to 1.5214, just shy of Thursday's Asian peak of 1.5247 as dovish comments by BoE Chief Economist Andy Haldane (see 01:06GMT update) dampened bullish sentiment on the pound.
Although choppy trading inside 1.5247-1.5174 range is expected, cable may track intra-day price swings in the euro as no U.K. data is due out today.
Offers are noted at 1.5235-45 with stops reported above 1.5255, initial bids are touted at 1.5200-90 and more below with stops below 1.5170.
[B]Intra-day Market Moving News
13 Nov 2015[/B] [I] 06:16GMT
[/I]
[B]GBP/USD[/B] - … Reuters reported early comments by BoE’s Haldane. The Bank of England does not see British households or businesses piling on too much debt, its chief economist Andy Haldane said on Friday, although he added that it bears watching.
“In general, we don’t see at the moment either households or businesses layering on debt with a trowel … because people are still scarred by the crisis experience,” Haldane told BBC radio.
Asked how a U.S. Federal Reserve interest rate hike would affect the BoE’s thinking, Haldane said monetary policy in other countries mattered hugely to the BoE, but moves abroad do not prompt automatic policy responses in Britain.
He added that it would be “extraordinary” if regulators thought their job was done on financial regulation, even after widespread reforms brought in over the last few years since the financial crisis.
[B]Intra-day Market Moving News and Views
17 Nov 2015[/B] [I] 02:08GMT[/I]
[B]GBP/USD[/B] - ....... The British pound was dragged lower from European high at 1.5228 to session low at 1.5182 in European morning by the selloff in euro.
Later, cable pared its losses and rebounded to 1.5219 in New York afternoon, however, renewed selling there sent the pair lower to 1.5197, then to 1.5186 in Asian morning today.
UK will release a batch of inflation related data at 09:30GMT. Most of the figures are expected to come in unchanged from their previous readings so traders should pay more attention to the inflation report hearing at 09:00GMT and in particular to comments from BoE officials that would provide guidance on the route the central bank would take for its rate decisions.
Offers are now seen at 1.5210/20 and more above at 1.5230/40 with stops building up above there whilst initial bids are noted at 1.5120/30, suggesting selling on recovery for further intra-day weakness is favored.
[B]Intra-day Market Moving News and Views
18 Nov 2015[/B] [I]02:23GMT
[/I]
[B]GBP/USD[/B] - … The British pound ratcheted lower throughout Asia yesteray and hit session lows of 1.5155 in European morning, however, price rebounded swiftly n strongly to 1.5217 in European morning after the release of slightly higher-than-expected UK core CPI.
Despite a brief retreat to 1.5190 at New York open, cable rose to intra-day high at 1.5239, helped by cross-buying of sterling vs euro.
Later, price pared intra-day gain n retreated to 1.5203 in New York afternoon, then lower to 1.5195 in Asian morning today.
Since there no UK eco. data is due out today, price is likely to track euro’s intra-day movements, however, traders should also keep an eye on the eur/gbp cross.
Bids have been lowered to 1.5180/90 and more below at 1.5160/70 with stops building up below there whilst initial offers are seen at 1.5260/70, suggesting near term upside bias still remains.
[B]Intra-day Market Moving News and Views
19 Nov 2015[/B] [I]02:25GMT[/I]
[B]GBP/USD [/B]- ....... Although the British pound rose to 1.5249 in European morning, price pared its gains and fell to 1.5188 at New York midday.
However, renewed buying there lifted the pair and cable rebounded to 1.5243 in New York afternoon before rallying in Asian morning in tandem with euro to as high as 1.5295 on broad-based weakness in the greenback.
Pay attention to the release of UK retail sales mm n yy at 09:30GMT. Street forecasts are -0.5% n 4.2% vs prev. readings of 1.9% n 6.5%.
Bids are now raised to 1.5260/70 and more below at 1.5240/50 with stops building up below there whilst initial offers are noted at 1.5330/40, suggesting buying on dips is the favored strategy.
[B]Intra-day Market Moving News and Views
20 Nov 2015[/B] [I]02:30GMT[/I]
[B]GBP/USD [/B]- ........ Although the British pound fell briefly but sharply to session low at 1.5236 in European morning after the release of poor UK retail sales data, price was dragged higher by the weakness in USD and gained to 1.5275 before rallying in tandem with euro to intra-day high at 1.5336 at New York midday.
However, renewed selling there pressured the pair lower and cable tumbled to 1.5286 near New York closing, then lower to 1.5270 in Asian morning before recovering.
Since there is no major eco. data due from UK today, price is likely to track euro’s intra-day movements closely. Having said that, traders should also keep a keen eye on EUR/GBP cross.
Offers are now seen at 1.5290/00 and more above at 1.5310/20 with stops building up above there whilst initial bids are noted at 1.5240/50, suggesting selling on intra-day pullback is the way to go.
[B]Intra-day Market Moving News and Views
23 Nov 2015 [/B] 0[I]2:43GMT[/I]
[B]GBP/USD [/B]- ...... The British pound tumbled to 1.5186 in New York afternoon on Friday, then lower to 1.5177/78 in New Zealand today before stabilising.
Cable met renewed selling at 1.5196 ahead of Asian open and fell sharply in tandem with euro to 1.5158 in Asian morning and continues to remain under pressure.
Since there is no major eco. data due today, price is likely to track euro’s intra-day movements. Having said that, traders should also keep an eye on the eur/gbp cross.
Offers are now lowered to 1.5170/80 and more above at 1.5190/00 with stops building up above there whilst initial bids are noted at 1.5120/30, suggesting selling on intra-day pullback is the favored strategy.
[B]Intra-day Market Moving News and Views
30 Nov 2015[/B] [I]03:17GMT[/I]
[B]GBP/USD[/B] - ..... Cable erases intra-day loss after penetrating previous Nov's 5-month trough of 1.5027 as short-term specs sold sterling broadly following weekend's dovish comments by BoE official's Vlieghe (see 00:45GMT update for details). Cable fell to intra-day low of 1.5015 after tripping light stops below 1.5025.
However, lack of follow-through selling triggered profit taking ahead of Asian lunch session.
Range trading is seen until European open, some offers are noted at 1.5050/60 with stops above 1.5070.
Initial bids are reported at 1.5015/10 with some stops touted below 1.5000.
The only U.K. due out today is October mortgage approvals at 09:30GMT. Therefore, cable is likely to follow intra-day swings in eur/usd.
[B]Intra-day Market Moving News and Views
01 Dec 2015[/B] [I]07:23GMT[/I]
[B]GBP/USD[/B] - ..... Reuters just reported BoE Financial Policy Committee's report. The Bank of England set out plans on Tuesday to require banks to hold as much as 10 billion pounds extra capital as the credit cycle moves into a more normal phase, but stopped short of immediate action.
The central bank said credit conditions in Britain had largely recovered from the financial crisis as banks began to lend more freely, and warned that asset prices were vulnerable to a big rise in interest rates and emerging market risks.
The BoE also said it expected the banking sector as a whole to hold high-grade tier one equity capital of 13.5 percent of risk-weighted assets by 2019, up from 13 percent now – part of which would overlap with the capital required for the CCB.
It also wanted to give banks more clarity about its long-run aims for the amount of capital they hold, now that credit conditions had largely got back to normal.
Alongside its half-yearly Financial Stability Report, the BoE also released the results of annual ‘stress tests’ into how lenders would deal with unexpected economic shocks.
This year the focus was on emerging market and trading risks, and Royal Bank of Scotland and Standard Chartered both only passed thanks to steps they took to improve their capital ratios mid-way through the testing process.
The other five big lenders tested – HSBC, Barclays, Lloyds Banking Group, Santander and Nationwide – did not have to take action.
Asset managers will face tests next year of how they would deal with investors pulling out their money en masse.
[B]Intra-day Market Moving News and Views
02 Dec 2015[/B] [I]02:50GMT[/I]
[B]GBP/USD[/B] - ...... Cable moves narrowly in subdued Asian trading on Wednes after yesterday's intra-day wild swings. Although the pound ratcheted higher at Asian open on Tue and rose to 1.5099 after tripping stops above 1.5070.
Price then climbed to session high of 1.5126 but lower-than-expected U.K. mfg PMI triggered broad-based long liquidation in sterling, cable later tumbled to 1.5051 ahead of European close before staging a recovery to 1.5087.
Looks like sideways move would continue until release of UK construction PMI, however, market focus is on Thursday’s UK services PMI as the service sector contributes to around 78% of UK’s GDP.
Offers are noted at 1.5085/95 and more above 1.5125/35 with stops touted above there.
Some bids are reported at 1.5055-50 with stops below there, however, more buying interest is reported at 1.5010-00.
[B]Intra-Day Market Moving News and Views
03 Dec 2015[/B] [I]06:15GMT[/I]
[B]GBP/USD[/B] - ...... 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.
[B]Intra-Day Market Moving News and Views
04 Dec 2015[/B] [I]03:15GMT[/I]
[B]GBP/USD [/B]- ..... Cable finally retreated in Asian trading after yesterday's rally from European morning low of 1.4902 to a 1-week high of 1.5160 near New York close as intra-day 4.35% surge in euro vs the usd triggered broad-based usd's weakness in hectic NY session.
Cable’s intra-day pullback from 1.5160 suggests range trading below said temporary top would be seen ahead of release of key U.S. jobs data at 13:00GMT and as street forecast is looking for a decent 200k increase in jobs growth following previous surprise 271k gain, active buying is cable is therefore not expected and position players may look to buy cable on dips if the jobs number is strong.
No U.K. data is due out today, so the pound is expected to follow intra-day swings in eur/usd.
Offers are reported at 1.5155/65 n more above with stops building above 1.5200.
Some bids are noted at 1.5100-80 area with stops below 1.5050.
[B]Intra-Day Market Moving News and Views
08 Dec 2015[/B] [I]02:48GMT[/I]
[B]GBP/USD [/B]- ....... Some news worth mentioning, Reuters reported, European Council President Donald Tusk, who is also the man running the negotiations with Britain to keep it in the EU, in a letter to EU leaders on Monday, said we have made good progress and we have to overcome the substantial political differences that we still have on the issue of social benefits and free movement.
Despite edging up to 1.5115 at European open, the British pound dropped to 1.5054 in early European morning on weekend news of Brexit and continued to remain under pressure.
Cable extend its intra-day decline to 1.5045 at New York closing before staging a minor rebound in tandem with euro in Asian morning today.
Pay attention to the release of UK industrial output mm and yy at 09:30GMT. Street forecasts are 0.1% and 1.2% vs previous readings of -0.2% and 1.1% respectively.
Bids are now lowered to 1.5030/40 and more below at 1.5010/20 with stops building up below there whilst initial offers are noted at 1.5080/90, suggesting further choppy trading would be seen ahead of European open.
[B]Intra-Day Market Moving News and Views
10 Dec 2015[/B] [I]02:30GMT[/I]
[B]GBP/USD[/B] - ....... The British pound ratcheted higher in Asia and Europe in tandem with euro and rose to intra-day high at 1.5192 in New York afternoon on dlr's broad-based weakness, then edged marginally higher to 1.5197 at Asian open today before retreating in Asian morning on profit-taking offers.
Market attention is now on BoE’s super Thursday, which will see the release of BoE minutes, policy statement, rate decision and QE total at 12:00GMT. Although the interest rate and QE total are expected to remain unchanged at 0.50% and 375B respectively, investors should pay attention to the minutes to gauge the path the central bank will take towards normalising its policy.
Bids are now seen at 1.5150/60 and more below at 1.5130/40 with stops building up below there whilst initial offers are noted at 1.5220/30, suggesting buying on dips for a resumption of recent uptrend is the way to go.
[B]Intra-day Market Moving News and Views
11 Dec 2015[/B] [I]02:28GMT[/I]
[B]GBP/USD[/B] - ....... Although the British pound traded sideways in Asia yesterday and briefly edged up to session high at 1.5202 ahead of BoE's rate announcement, price fell sharply to session low at 1.5111 ahead of New York open as BoE kept its rate on hold and presented a more dovish outlook.
Later, cable staged a recovery to 1.5188 in New York morning, however, renewed selling there pressured the pair lower and price dropped to 1.5150 near New York closing, then 1.5139 in Asian morning.
Since there is no eco. data due today, price is likely to track euro’s intra-day movements. Having said that, one should keep a keen eye on eur/gbp cross as well.
Offers are now seen at 1.5160/70 and more above at 1.5180/90 with stops building up above there whilst initial bids are noted at 1.5110/20, suggesting selling on intra-day recovery is the favored strategy.
[B]Intra-day Market Moving News and Views
14 Dec 2015[/B] [I]03:00GMT[/I]
[B]GBP/USD[/B] - ...... Despite last Fri's rally to 1.5230 in New York morning, then higher to intra-day high at 1.5240 in New York afternoon, the British pound pared its gains and fell sharply in Australia today and hit a low at 1.5180 ahead of Asian open today and continues to remain under pressure in Asian morning.
Since there is no major eco. data due today, price is likely to track euro’s intra-day movements. Having said that, one should keep a keen eye on the eur/gbp cross.
Bids are lowered to 1.5160/70 and some more below at 1.5140/50 with stops building up above there whilst offers are noted at 1.5230/40, suggesting choppy trading would be seen ahead of European open.
[B]Intra-day Market Moving News and Views
15 Dec 2015[/B] [I] 02:30GMT[/I]
[B]GBP/USD[/B] - ....... The British pound fell sharply in Australia yesterday and continued to ratchet lower throughout Asian and European session, weighed by cross-selling of sterling vs euro and hit intra-day low at 1.5108 ahead of New York open on comments from BoE's Shafik.
However, cable pared its losses and staged a strong rebound to 1.5158 in New York afternoon, then higher to 1.5186 in Australia before retreating in Asian morning.
UK releases its inflation data today at 09:30GMT. Pay particular attention to the CPI mm and yy figures.
Street forecasts are -0.1% and 0.1% vs previous readings of 0.1% and -0.1% respectively.
Some bids are noted at 1.5130/40 and below at 1.5110/20 with stops building up below there whilst offers are seen at 1.5190/00, suggesting near term upside bias would be seen but position traders should look to sell on intra-day pullback.
[B]Intra-day Market Moving News and Views
17 Dec 2015[/B] [I]03:03GMT[/I]
[B]GBP/USD -[/B] ...... The British pound tracked euro's intra-day moves and briefly spiked down to 1.4960 before rallying to 1.5100 post Yellen's comments.
Later, cable pared its gains and tumbled to 1.4983 near New York closing and continued to ratchet lower, hitting a low at 1.4957 in Asian morning today and continues to remain under pressure.
Pay attention to UK retail sales mm and yy at 09:30GMT.
Street forecasts are 0.5% and 3.0% vs previous readings of -0.6% and 3.8% respectively.
Offers are now lowered to 1.4980/90 and more above at 1.5000/10 with stops building up above there whilst initial bids are noted at 1.4900/10, suggesting selling on recovery for a resumption of recent downtrend is favored.