USD maintains strength as market awaits FOMC announcement
City Index October 30, 2013 3:08 PM
<p>Not much movement overnight after some USD strength yesterday – notably against the GBP, which caused a 100 pip move lower. Even with this, the […]</p>
Not much movement overnight after some USD strength yesterday – notably against the GBP, which caused a 100 pip move lower. Even with this, the pound forecasts have soared on the speculation that the UK economy is improving and the central bank is more tolerant of a higher exchange rate.
Today will be about USD, with ADP expected to be 151k. The market likes to use this as a guide to non-farm payrolls, which are due next Friday. The FOMC announcement will be released tonight, with no surprises expected. We should see the FED maintain the policy stimulus amid the soft data in the last month surrounding the government shutdown.
Supports 1.3735 1.3717 1.3687 | Resistance 1.3793 4.3811 1.3841
Supports 97.67 97.47 97.16 | Resistance 98.29 98.49 .98.80
Supports 1.6025 1.5996 1.5950 | Resistance 1.6117 1.6146 1.6193
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