OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: GBP/USD downside held at 1.5140 zone

FXstreet.com (Barcelona) - Downside pressure showed up since mid-London morning after failing to climb above 1.5200 and then the market pulled the GBP/USD to 1.5140 zone (low at 1.5135), where it has been finding support. Still, the pair remains subdued after the US data load.

US consumer confidence fell from 68.0 (revised from 69.6) to 59.7 in March (consensus of 68.0), while New Home Sales dropped from 0.431M (revised from 0.437M) to 0.411M (consensus of 0.422M). Richmond Fed manufacturing was also a disappointment, at 3 (from 6, consensus of 8). US S&P/Case-Shiller Home Price Indices rose from 6.8% to 8.1% in January, beating the 7.9% consensus.

Earlier, US Durable Goods Orders rose 5.7% in February, beating consensus of 3.8%. January data was revised higher from -4.9% to -3.8%. Excluding transportation, durable goods orders dropped -0.5%, disappointing expectations of +0.5%, but saw its January print being revised higher from 2.3% to 2.9%. The ex-transportation print at -0.5% was the first negative one in five months.

Forex: AUD/USD jumps to 2-month highs at 1.0495

The AUD/USD has finally broken above the 1.0480 level and after rising around 20 pips in the last couple of hours, the Aussie is testing the 1.0500 level against the Greenback. The pair has reached the 100495 as fresh highest level since January 24th.
Read more Previous

Forex Flash: Can currency markets withstand a corrective phase? – UBS

Given the return in Eurozone stress however, the US will be tested further in how it will be able to generate enough momentum with greater external headwinds. According to Gareth Berry, a Research Analyst at UBS, “We continue to stress that data surprises for the US remain exceedingly strong, and it remains if markets can withstand a corrective phase. However, we note that even if this is not the case, the damage will likely be mostly felt in equities rather than the dollar.”
Read more Next
Start livechat