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Forex: GBP/USD back to 1.5225/30

FXstreet.com (Barcelona) - The sterling is trading back to the comfort zone around 1.5225/30 on Tuesday, after hitting fresh weekly highs in the boundaries of 1.5260 overnight ahead of interesting data in the British economy: manufacturing PMI (48.5 exp.), Consumer Credit, Mortgage Approvals and M4 Money Supply.

According to the last IMF’s COFER report, “purchases of GBP were minor ($4bn) implying that the proportion of FX reserves held in sterling was declining even before the UK was stripped of its AAA stratus by Moody’s”, argued the research team at NAB.

GBP/USD is now losing 0.02% at 1.5226 with the immediate support at 1.5200 (high Feb.28) ahead of 1.5178 (low Apr.1) and finally 1.5165 (MA10d).
On the flip side, a breakout of 1.5242 (high Apr.1) would expose 1.5260 (hourly high Mar.250 and then 1.5280 (high Mar.25).

Japan’s Nikkei eases some more ahead of BoJ

Still ahead of the BoJ, Japan’s Nikkei Stock Average fell again today, by -0.72% this time, as the USD/JPY dropped below 93 for the first time in a month. South Korea’s Kospi dropped by -0.84%, and both Hong Kong’s Hang Seng (+0.04%) and Mainland China’s Shanghai Composite (-0.05%) closed around flat. Investors also followed the weaker-than-expected manufacturing ISM overnight (51.3 against consensus 54.0).
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Forex: USD/JPY prints 1-month lows

The USD/JPY is being pressured today again and the 93.00 mark didn’t hold the downside momentum, allowing a drop for the first time in a month. The pair reached as low as 92.57, as investors position themselves ahead of the BoJ policy meeting on Thursday. The pair is printing 1-month lows at this stage, below March 05 low at 92.92, and is getting closer to March 01 low of 92.44.
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