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2 May 2013

Forex: GBP/USD hovering over 1.5550

FXstreet.com (Barcelona) - The sterling is following its European peer on Thursday, orbiting around 1.5545/50 ahead of the Construction PMI due later in the UK economy. Recall that the cross pierced the key resistance at 1.5600 on Wednesday, after the manufacturing PMI print came in above expectations.

At the moment, the pair is losing 0.05% at 1.5548 with the next support at 1.5528 (hourly low May 1) ahead of 1.5476 (low Apr.29) and finally 1.5418 (low Apr.26).
On the flip side, a break above of 1.5606 (50% of Jan-mar decline) would expose 1.5690 (high Feb.13) and then 1.5810 (high Feb.11).
May 2, 2013

Forex: EUR/USD consolidates below 1.3200

The single currency is extending its correction from yesterday’s highs around 1.3240 to the current area of 1.3170/75, ahead of the final manufacturing PMI figures from de euro zone members...
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May 2, 2013

Forex: AUD/USD in session lows around 1.0230

The Aussie dollar is navigating the lower end of today’s range around 1.0230/35 after the disappointing print from the Chinese PMI. Tepid domestic data also showed that Building Permits contracted 5.5%....
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