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GBP/USD2014-07-24 16:49 UTC

GBP-USD gave up the 1.7000 handle, falling to lows of 1.6967, the lowest print in nearly a month. Stops were noted on the move under 1.7000, though buyers were seen returning near the June 26 low of 1.6972. The sterling market remains long overall, and even moderately bad news appears to be having a more of an impact on the currency. Today's selling pressure came on the back of U.K. retail sales, which missed forecasts, though were by no ... Read More 

XE Market Analysis

  • North American Edition2014-07-24 11:30 UTC

    The euro was up and the pound down in London trade, with EURUSD supported by much stronger than expected PMI readings, which unexpectedly showed an acceleration in economic activity. Cable meanwhile, dipped after weaker than expected retail sales numbers. EU stock markets have moved higher, led by peripherals, as Chinese and Eurozone PMI readings revived confidence in the global economy and fuelled risk appetite. U.S. equities look set to open higher as ... Read More 

  • European Edition2014-07-24 10:57 UTC

    The dollar perked up some in quiet N.Y. trade, though as is becoming commonplace in the FX market, ranges were narrow. EUR-USD tested London's trend low of 1.3455, though failed to make further downside progress. Sellers in place from 1.3475 capped the euro off. USD-JPY moved modestly higher on better risk levels, though was contained by a 101.37 to 101.53 trading band. USD-CAD held support into 1.0710, and moved over 1.0740 on an ex-auto Canadian retail ... Read More 

  • Asian Edition2014-07-24 16:49 UTC

    The dollar was broadly firmer in N.Y. trade on Thursday, with mixed data and marginally improved risk levels supporting. Jobless claims were the lowest since 1006, while Markit PMI miss forecasts somewhat. New home sales were soft, but overall, better China and EU data helped sentiment. Yields trended higher, while Wall Street posted modest gains. EUR-USD was not able to test the London low of 1.3438, though after opening over 1.3480, the pairing was ... Read More 

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