OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: GBP/USD holding steady around 1.5540/45

FXstreet.com (Barcelona) - The sterling is trading almost unchanged against the greenback on Tuesday, hovering over the area of 1.5540/45.
Interesting week for the pound ahead, as the BoE MPC meeting will be on the limelight on Thursday, seconded by Industrial/Manufacturing Production, the NIESR GDP Estimate and the Trade Balance figures.

“Critical resistance at 1.5606, a closing break above this would be positive opening the way to 1.5689 and 1.5789. Support is at 1.5481 ahead of 1.5402”, commented G.Yu and G.Berry, Strategists at the Swiss lender UBS.

As of writing, the pair is gaining 0.01% at 1.5544 with the next resistance at 1.5603 (high May 3) followed by 1.5607 (high May 1) and finally 1.5690 (high Feb.13).
On the downside, a breach of 1.5505 (low May 3) would expose 1.5480 (low May 3) and then 1.5467 (low Apr.30).

Forex: EUR/USD around 1.3085/90, German data eyed

The single currency is advancing on Tuesday in the vicinity of 1.3085/90, ahead of the German Factory Orders due later. Market consensus expects orders to shrink 0.5% on a monthly basis and contract 2.9% over....
Read more Previous

Asian markets up but Nikkei rockets upward

Japan’s Nikkei Stock Average (+3.39%) erupted to above 14000, but Hong Kong’s Hang Seng (+0.34%), India’s Bombay Sensitive (+0.49%), Singapore’s Straits Times (+0.37%) and Indonesia’s Jakarta Composite (+0.78%) also added gains on Tuesday, while South Korea’s Kospi fell -0.36% with more threats from North Korea, and Mainland China’s Shanghai Composite closed around flat. Australia’s S&P/ASX 200 fell -0.24% following the unexpected RBA rate cut by 25bp to 2.75%, a record low.
Read more Next
Start livechat