IFX Market Report

Submitted by qrops on Tue, 02/Feb/2010

IN THE UK

 

  • Sterling extends losses
  • Mortgage lending data falls
  • Election ‘hung parliament’ possibility back
  • UK manufacturing PMI hits 15 year high

 

IN THE US

 

  • USD gains against sterling, 1.5850
  • Obama unveils plan to recoup $1.5trillion
  • Better than expected US manufacturing data

 

 

IN THE EU

 

  • Two speed Europe is split by manufacturing PMI
  • Euro gains 1% against GBP

 

At 9.30am this morning the pound was at $1.5931, €1.1433, 11.82 ZAR, 144.323 JPY, 11.54 SEK and AU$1.8086. The euro was at $1.3929 against the US dollar

Today’s key levels of support and resistance are:

GBP/USD:              Support: 1.5869, 1.5794, 1.5739                      Resistance: 1.5999, 1.6054, 1.6129
EUR/USD:              Support: 1.3851, 1.3886, 1.3921                      Resistance: 1.3995, 1.3970, 1.4005
GBP/EUR:              Support: 1.1396, 1.1338, 1.1279                      Resistance: 1.1513, 1.1572, 1.1630    

 

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