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Forex: GBP/USD muted after UK data

FXstreet.com (Barcelona) - The sterling is inching higher on Wednesday, after the UK house prices gauged by Nationwide contracted 0.1% on a monthly basis during April and rose 0.9% over the last twelve months. Both prints came in below expectations.

Next on tap in the British economy will be April’s manufacturing PMI, expected to advance a tad to 48.5 vs. 48.3 in the previous month.

GBP/USD is now up 0.07% at 1.5544 with the next resistance at 1.5547 (high Apr.29) ahead of 1.5550 (high Feb.15) and finally 1.5566 (Day Channel Top-Mar. low).
On the downside, a break below 1.5476 (low Apr.29) would expose 1.5467 (low Apr.30) and then 1.5418 (low Apr.26).

Forex: USD/JPY bounces after retesting lower 97.00 ground

The USD/JPY retried the 97.00 ground in today’s Asian morning, coming as low as 97.06, little above yesterday’s low of 97.02. Then, the pair erased its losses throughout the session and is just below flat ahead of the European opening. Labor Day should keep the market low in volumes, but many won’t miss the chance of trading the FOMC policy decision later at 18:00 GMT, as well as the ADP employment and ISM manufacturing PMI at 14:00 GMT.
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