Russia-Ukraine crisis dominate the markets ahead of Easter holidays
City Index April 17, 2014 2:09 PM
<p>With the holidays nearly upon us, we are still seeing pretty tight ranges for the FX markets. The biggest move was from cable, which has […]</p>
With the holidays nearly upon us, we are still seeing pretty tight ranges for the FX markets. The biggest move was from cable, which has jumped out of its range and has had a good rally. It has broken the previous high of the year, which was 1.6820. The move came from the surprise fall in the unemployment rate to 6.9%, with most expecting 7.2%. I would be cautious around these levels, with the holiday upon us and as previous attempts to hold this high have failed.
A big talking point today and over the long weekend will be Russia-Ukraine tensions. There are talks of a meeting today between the EU, US, Russia and Ukraine. We now wouldn’t expect them to shake hands and be over this from the meeting, but it certainly will impact the markets no matter the outcome, so one to watch.
Today’s data is very light with nothing to report from Europe or the UK so we move to the US. We will be awaiting the release of unemployment claims, expected at 316k, which is a tad higher than the previous 300k.
Supports 1.3810 1.3780 1.3750 | Resistance 1.3850 1.3875 1.3900
Supports 101.90 101.60 101.40 | Resistance 102.40 102.70 103.00
Supports 1.750 1.6720 1.6650 | Resistance 1.6840 1.6880 1.6950
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.