FX remains in tight ranges as Russian tensions grow
City Index April 29, 2014 2:15 PM
<p>We remain in tight ranges so far in FX, with tensions in Russia growing after the US, EU and Japan all announced more sanctions against […]</p>
We remain in tight ranges so far in FX, with tensions in Russia growing after the US, EU and Japan all announced more sanctions against Putin’s inner circle.
The EU data out today will set the tone to look at the low inflation in the Eurozone. The German CPI is due out at an expected -0.1% from previous 0.3%, which is unlikely to help matters.
M3 money supply also due out today, which is another indicator for the supply of money in circulation. This is exepcted out at 1.4$ from the previous 1.3%.
In the UK, the prelim GDP q/q reading is due out at a 0.9% from the previous 0.75. As we sit near the highs of the year with GBP/USD this could be a pivotal piece of data to keep the strength of the pound going (which has failed to stay up above 1.68 a few times this year).
Supports 1.3820 1.3785 1.3755 | Resistance 1.3880 1.3915 1.3950
Supports 102.20 101.85 101.60 | Resistance 102.80 103.00 103.40
Supports 1.6770 1.6735 1.6690 | Resistance 1.6850 1.6895 1.6930
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