{"id":8572,"date":"2010-04-14T14:59:14","date_gmt":"2010-04-14T18:59:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8572"},"modified":"2010-04-14T14:59:14","modified_gmt":"2010-04-14T18:59:14","slug":"gbpusd-climbs-in-the-wake-of-u-s-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/14\/gbpusd-climbs-in-the-wake-of-u-s-data\/","title":{"rendered":"GBP\/USD Climbs in the Wake of U.S. Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Cable is drifting higher as investors sell the Dollar in reaction to today\u2019s U.S. data set.\u00a0 U.S. Retail Sales topped analyst expectations while CPI printed flat.\u00a0 Hence, although consumption is increasing prices are dragging, giving the Fed ammo to keep its monetary policy loose, a Dollar negative.\u00a0 Meanwhile, the Pound is outperforming the Euro due to recent positive UK data, including this week\u2019s Trade Balance data.\u00a0 UK manufacturing is picking up and house prices are rising, meaning the UK economy appears to be stabilizing and this gives the BoE little reason to loosen further.\u00a0 However, parliamentary elections are around the corner and as they approach psychological could take control once again.\u00a0 Meanwhile, investors will focus on China and the U.S. tomorrow.\u00a0 China will release a key data flow, including GDP and CPI.\u00a0 China\u2019s data will be followed by key U.S. manufacturing figures along with weekly Unemployment Claims and TIC Long-Term Purchases.\u00a0 Hence, the global economic recovery will get another litmus test tomorrow and most of the attention will likely be placed on China.\u00a0 Should China\u2019s GDP storm higher this could give renewed confidence to the risk trade.\u00a0 However, if prices rise beyond analyst expectations this could increase speculation that China will need to tighten and\/or appreciate soon, a possible negative for the risk trade.\u00a0 Needless to say it will be interesting to see how the Cable and Dollar as a whole reacts to tomorrow\u2019s data flow.<\/p>\n

Technically speaking, the Cable faces technical barriers in the form of intraday, 4\/12, 2\/23, and 2\/17 highs.\u00a0 Additionally, the psychological 1.55 level could serve as a solid obstacle should it be tested.\u00a0 As for the downside, the Cable has fresh uptrend lines serving as technical cushions along with intraday and 4\/8 lows.\u00a0 Additionally, the psychological 1.54 area could continue to serve as a solid support over the near-term.<\/p>\n

Present Price: 1.5454
\nResistances: 1.5470, 1.5494, 1.5522, 1.5539, 1.5554, 1.5575
\nSupports: 1.5444, 1.5429, 1.5404, 1.5386, 1.5358, 1.5337
\nPsychological: 1.55, 1.54, 1.53, February highs and April Lows<\/p>\n

\"\"<\/a><\/p>\n

(click chart to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regarded neither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – The Cable is drifting higher as investors sell the Dollar in reaction to today\u2019s U.S. data set.\u00a0 U.S. Retail Sales topped analyst expectations while CPI printed flat.\u00a0 Hence, although consumption is increasing prices are dragging, giving the Fed ammo to keep its monetary policy loose, a Dollar negative.\u00a0 Meanwhile, the Pound … <\/p>\n

Continue reading “GBP\/USD Climbs in the Wake of U.S. Data”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8572","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=8572"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8572\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}