INTERNATIONAL CURRENCY BUZZ :
- FOREX -Dollar slips lower vs. rivals ahead of GDP data
- FOREX -Dollar eases but still close to 2-1/2 month highs after Fed
- FOREX -Dollar holds higher ground vs euro as Fed/ECB policies diverge
EUR/USD has reversed directions on Thursday and posted modest gains. In the European session, the pair is trading at 1.0960. The euro lost over 100 points on Wednesday, as the Fed surprised the markets with a hawkish policy statement. EUR/USD briefly dropped below the 1.09 line, the first time this has happened since August. In Thursday’s economic news, German Unemployment Change met expectations, and we’ll get a look at German CPI later in the day. There are two key releases out of the US on Thursday – Advance GDP and Unemployment Claims. The US will wind up the week with one market-mover on Friday – US Employment Cost Index.
The GBP/USD pair trades almost unchanged at 1.5265, re-attempting session highs posted at 1.5275 post. European open. The GBP/USD pair remains stuck in a 20-pips narrow over the last few hours, little affected by the release of upbeat datasets from the UK. The mortgage market in the UK remained on a solid footing in September, with an increase in the value of loans remained at more than a seven-year high. While the net-lending figures to individual grew to 4.9B above expectations of a drop to 4.4B.The single currency found some support after data earlier showed that the number of unemployed people in Germany decreased by 5,000 this month, better than expectations for a drop of 4,000.Elsewhere, the dollar was steady against the pound, with GBP/USD at 1.5269.
- BUY GBP/USD ABOVE 1.5280 TARGET 1.5300 1.5330 SL 1.5250
- SELL GBP/USD BELOW 1.5220 TARGET 1.5200 1.5180 SL 1.5250