Global macro overview for 04/10/2016
October 4, 2016 8:58 amVideo
Latest News
- Analysis of EUR/USD pair on May 24, 2024 May 24, 2024
- Analysis of GBP/USD pair on May 24th. Another British report showed weakness, but who cares? May 24, 2024
- USD/JPY: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- GBP/USD: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- EUR/USD: Simple trading tips for novice traders for May 24th (US session) May 24, 2024
- GBP/USD: trading plan for the US session on May 24th (analysis of morning deals). Sellers missed 1.2700 May 24, 2024
- EUR/USD: trading plan for the US session on May 24th (analysis of morning deals). The euro is not going to give up May 24, 2024
- EUR/USD. May 24th. The bears are starting to go on the offensive May 24, 2024
- Forecast of GBP/USD pair on May 24, 2024 May 24, 2024
- Trading Signals for EUR/USD for May 24-28, 2024: sell below 1.0864 (200 EMA – 21 SMA) May 24, 2024
- Trading Signals for GOLD (XAU/USD) for May 24-28, 2024: buy above $2,333 (200 EMA – oversold) May 24, 2024
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
Global macro overview for 04/10/2016:
The PMI Construction data from Britain has just been released and it is better than expected. Market participants anticipated the figure to be below the fifty points level just as a month ago (49.1 points exactly), but the released score was at the level of 52.3 points, a way better than expected. The British PMI data, both from construction and manufacturing sectors remain strong ad no real damage has been done to the UK economy so far. The reason behind such good figures might lay in a fact that the UK is still formerly a part of the eurozone as the official separation from the EU has been scheduled for March 2017. Nevertheless, Brexit uncertainty still prevails regardless of the better data.
Let’s now take a look at the GBP/USD technical picture in 4H time frame after the data was published. As we can see, the GBP/USD pair posted a new, 31-year lows of 1.2757 despite the better than expected data. The pair is still trading inside the golden channel, below the key resistance at the level of 1.2801.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: