GBPUSD: Towards the top of current channel – Lloyds Bank

FXStreet (Delhi) – Research Team at Lloyds Bank, suggests that GBPUSD have moved back towards the top of the current channel overnight, mostly due to the USD coming under a little pressure as a result of the US equity market and bond yield weakness.

Key Quotes

“If the US ADP employment numbers disappoint this afternoon. Interim pivot support lies in the 1.4340/30 region, a break there risks a move back to channel support lying in the 1.4180/75 region. A breakdown through there suggests we are returning to the underlying bear trend and a test of the 1.40-1.35 key long term support region.”

Feb 3, 2016

Eurozone: Labour market still reflecting stronger domestic backdrop - Rabobank

Research Team at Rabobank, suggests that in mainland Europe, the labour market is still reflecting the stronger domestic backdrop that marked 2015 – even though recent business surveys indicate that growth of economic activity in the eurozone likely slowed around the turn of the year.

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Feb 3, 2016

China’s gold demand expands on increased flight to safety – China Gold Association

In its latest gold report released on Wednesday, the China Gold Association noted that China’s gold demand will continue to increase as investors seek safe assets in light of the recent Chinese stock market turmoil and make investments in jewellery.

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