OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/GBP keeps the tops after UK data

The sterling was boosted after the positive data in the UK, where the industrial and manufacturing production have contracted 1.7% and 1.5% on a yearly basis respectively, and bettering previous prints. In the same direction, the trade deficit narrowed to £8.9 billion during December from £9.3 billion in the prior month.

The pair experienced a knee jerk from highs in the area around 0.8665, although it proved to be short-lived, trading back to the region around session highs ahead of the ECB and BoE gatherings.

At the moment, the cross is up 0.30% at 0.8861 facing the next hurdle at 0.8681 (high Feb.6) followed by 0.8701 (high Feb.4) and finally 0.8717 (high Feb.1).
On the downside, a break below 0.8616 (low Feb.6) would lead to 0.8602 (MA10d) and then 0.8555 (low Feb.5).

Spain 5-y Bond Auction increase to 4.123%; 2-y: 2.823%

Read more Previous

Forex Flash: Australian employment data helped by part time work gains – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that overnight data saw the release of Australian employment data that were helped by gains in part time work (keeping the unemployment rate at 5.4% despite a 9,800 fall in full-time jobs).
Read more Next
Start livechat