13. Forex Flash: FX majors in focus – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.

Beginning with the USD/JPY, as long as support at 97.85 holds, there is scope for the pair to resume strength. Resistance is at 100.00 ahead of 101.45. As for the GBP/USD, “Support is at 1.5190, a breach of which would trigger deeper sell-off to 1.5122 and then 1.5054, while resistance is at 1.5368 ahead of 1.5424” Finally, regarding the USD/CHF, resistance was broken previously at 0.9357, with support at 0.9277 ahead of 0.9207, threatening a bearish trend.

Apr 23, 2013

Forex Flash: Mixed PMIs lead to flat EMU figure at 46.5, ECB to expect soft inflation – TD Securities

Mixed flash PMIs in the Eurozone totaled in a flat EMU figure at 46.5 in April. In France, “output and new orders both improved (although continue to point to contraction albeit at a slower pace) but the employment component deteriorated while both the input and output price components fell”, leading to rising manufacturing from 44.0 to 44.4 and services from 41.3 to 44.1.

Forex: GBP/USD rebounds after UK CBI orders and PSNB disappointment

After the London opening tumble to test the 1.5200 handle on rising UK PSNB and finding some stability at 1.5220, the GBP/USD is now rebounding since the release of UK CBI orders and as the London morning ends and gives investors’ some space ahead of the New York opening and US data. The pair is currently at 1.5252, still below yesterday’s close at 1.5297.