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
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