Good morning, Mid prices GBPEUR 1.3035 GBPUSD 1.5100 - Euro May Overlook German ZEW as Traders Await ECB Meeting Outcome Cable remains in red in the early European morning, recovering slightly from steep losses witnessed in the Asian session as US dollar strengthened against most of its major trading partners. The GBP/USD pair traded at 1.5077 levels, down -0.23% on the day, pulling away from intraday low of 1.5058 levels hit earlier in the day. GBP/USD may remained pressured as the US dollar continued to head higher against major currencies, reversing last week’s losses after the SNB collapse. Meanwhile, traders now eye the Bank of England (BOE) Monetary Policy Committees (MPC) January meeting minutes, reporting the vote of each member during the recent meeting, which will be released tomorrow. January’s German ZEW survey of investor confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index is expected to advance for a third consecutive month, hitting the strongest level since April. The better tone around the greenback is relegating EUR/USD to test the lower end fo the intraday range in the 1.1580/70 band. Chinese data surprised investors to the upside in early trade, although the risk sentiment remained eclipsed by a renewed wave of USD strength. Chinese economic activity expanded at an annual pace of 7.3% during the fourth quarter, surpassing the median and matching the previous reading; in addition, both Industrial Production and Retail Sales during December
Posted on: Tue, 20 Jan 2015 08:32:36 +0000
Trending Topics
Recently Viewed Topics
© 2015