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7 Mar 2014

GBP/USD dips to low near 1.6700

FXStreet (Edinburgh) - The sterling is now printing fresh intraday lows, with the GBP/USD deflating to the 1.6715/10 area.

GBP/USD softer after Payrolls

After hitting weekly highs beyond 1.6780, the pair has not only given away initial gains but it is also trading in the negative ground following the upside surprise from February’s Payrolls (175K act. Vs.149K exp.). “Once more, job creations came in a soft tone. Admittedly, they are higher than during the previous two months, but the fact they did not bounce back leads us to believe that the weather was not a big driver of the December-January weakness. There is neither good nor bad news in today’s report, which leaves the better outlook unchanged. The tapering will go on”, commented Analyst Alexandra Estiot at BNP Paribas.

GBP/USD levels to consider

The pair is now retreating 0.11% at 1.6718 and a break below 1.6700 (psychological level) would accelerate the downside to 1.6697 (10-d MA) and then 1.6686 (low Mar.6). On the flip side, the initial resistance lines up at 1.6800 (psychological level) ahead of 1.6823 (2014 high Feb.17) and finally 1.6845 (high Nov.18 2009).
Mar 7, 2014

Flash: US employment in perspective - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale explained that, by and large, today's US employment report was a 'business as usual' sort of a report but added that MUCH more important, is what is happening on wages.
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Mar 7, 2014

Markets mixed after Payrolls, dollar advances

Equities in the US markets reverted initial gains despite February’s Payrolls surprised investor to the upside...
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