2 Sep 2013
Flash: GBP/USD stable to start week, though NFP loom – Investec
FXstreet.com (Lisbon) - The GBP/USD remain well supported at present, although sterling exchange rates have been relatively range bound in recent weeks, notes Jonathan Pryor, Corporate Treasurer at Investec.
Key quotes
“With a bank holiday in the US today it may be a quiet day from across the pond. Tension has abated slightly over Syria after Obama decided to ask Congress for approval for limited strikes. It is unclear whether the House will approve military involvement, and as the likelihood of immediate action has reduced energy markets have calmed down and equity markets have recovered a touch from last week falls.”
“For the US the key data release looks set to be toward the end of the week with Non-farm Payroll figures out on Friday at 13:30 GMT. This is a notoriously difficult figure to forecast and as such can often cause volatility in markets. Clients with USD exposures may wish to take this into consideration when planning FX transactions this week.”
Key quotes
“With a bank holiday in the US today it may be a quiet day from across the pond. Tension has abated slightly over Syria after Obama decided to ask Congress for approval for limited strikes. It is unclear whether the House will approve military involvement, and as the likelihood of immediate action has reduced energy markets have calmed down and equity markets have recovered a touch from last week falls.”
“For the US the key data release looks set to be toward the end of the week with Non-farm Payroll figures out on Friday at 13:30 GMT. This is a notoriously difficult figure to forecast and as such can often cause volatility in markets. Clients with USD exposures may wish to take this into consideration when planning FX transactions this week.”