US GDP likely to add to the volatility today
City Index March 27, 2015 1:21 PM
<p>As we come to the end of the week, the main data to be released will be the US Final GDP q/q which is expected […]</p>
As we come to the end of the week, the main data to be released will be the US Final GDP q/q which is expected to be higher at 2.4% from a previous of 2.2%. To add to the market’s reactions, we will also be hearing from the likes of the MPC members Haldane and Broadbent, and from Governor Carney all before 9am this morning. In the US, there are also speakers from FOMC Fischer and the FED chair herself Yellen.
The EUR/USD is already trading 76 points down and looking now to break the 1.08 handle, while cable has dropped 50 points and is trying hard to make a clean break below 1.4800, but keeps finding much-needed support. We look set for more volatility up to the data and towards the end of trading, as the Spring term in UK hits next week with expected thin markets.
Supports 1.0810-1.0735-1.0610 | Resistance 1.1005-1.1130-1.1205
Supports 118.50-117.75-117.20 | Resistance 119.75-120.30-121.00
Supports 1.4770-1.4695-1.4580 | Resistance 1.4960-1.5075-1.5150