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2 May 2013

Forex: GBP/USD falls to intraday lows on Draghi’s speech

FXstreet.com (San Francisco) - The Sterling is currently trading lower against the US Dollar following the ECB's president Mario Draghi conference press. The GBP/USD has fallen around 55 pips in the latest hour from 1.5585 to break down the 1.5540 support and to trade at intra-day lows at 1.5530.

ECB President Mario Draghi said the bank is technically ready for negative deposit rate if it decides to act. Draghi highlights that the ECB will look at this with "open mind".

Currently the GBP/USD is trading at 1.5535, 0.15% negative on the day. The Cable is strongly bearish according to the FXstreet.com trend index with indicators such as MACD, CCI and Momentum pointing to the south while the Stochastic is bullish.

Below the 1.5530, next supports are at 1.5525 and 1.5475. On the upside, resistances are at 1.5570, 1.5590 and 1.5605.
May 2, 2013

Commodities Brief – Silver tests 24.00, crude faces bearish outlook

The yellow metal has pared its losses from the overnight and European session to move higher Thursday. Topping out at 1472 in recent minutes, gold prices have eased slightly to settle at USD $1468.55 per oz. during US trading. With fresh speculation surrounding the US stimulus program and the recent release of jobs data in the US, gold prices certainly will look to push the 1475 resistance, which if breached will signal a path higher to 1490.
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May 2, 2013

American equity markets open higher

The US stock rallied Thursday, after a grim session yesterday and mounting concerns over the US stimulus program roiled marketsa. In the United States, In the United States, Initial Jobless Claims (April 26) came in at 324K, compared with a projection of 345K. Moreover, the Trade Balance (March) was reported at $-38.8B, vs. a consensus of $-42.0B.
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