Pound gains strength as Asian currencies rise on China stimulus hopes
City Index March 28, 2014 1:17 PM
<p>Asian FX was still the best performer this week due to Chinese stimulus hopes, which were reassured by China’s Premier who pledged to support the economy. It’s […]</p>
Asian FX was still the best performer this week due to Chinese stimulus hopes, which were reassured by China’s Premier who pledged to support the economy. It’s worth keeping an eye on the AUD and NZD, which are still going strong into today.
UK retail sales were released yesterday and pushed GBP higher. This has continued overnight, with some important data released this morning. The markets are expecting a smaller current account at -13.5bn, from 20.7bn, and the final GDP expected at 0.7% quarter on quarter.
Some mid-range data out for the US later today, with the UoM consumer sentiment being the main one to look out for. The data is expected to come in at 80.6, from a previous reading of 79.9.
Supports 1.3730 1.3715 1.3640 | Resistance 1.3760 1.3785 1.3825
Supports 102.00 101.70 101.20 | Resistance 102.45 102.80 103.10
Supports 1.6575 1.6510 1.6440 | Resistance 1.6675 1.6715 1.6750
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