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4 Aug 2014

GBP/USD shows lazy reactions to Construction PMI

FXStreet (Moscow) - GBP/USD stuck around 1.6825 area waiting for Construction PMI release, and moved to 1.6831 right after data.

Construction PMI is out

Construction sector is usually skipped by the market as it is second-tier data reflecting only small part of the British economy. However, with the growing fears of slowing UK recovery pace every reports is scrutinized by the market. The released data showed index at 62.4 vs 62.0 expected. It moved the pair just above 1.6830 right after the release. Not a big deal, but sometimes the market is slow in its reactions as it was last week with Mortgage approvals data. The next target to the upside may become 1.6873 resistance.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6843, with support below at 1.6792, 1.6762 and 1.6711 with resistance above at 1.6873, 1.6924, and 1.6954. Hourly Moving Averages are largely bearish, with the 200SMA bearish at 1.6957, and the daily 20EMA bearish at 1.6997. Hourly RSI is bearish at 40.
Aug 4, 2014

EMU: Sentix Investor Confidence plunges to 2.7 in August

Eurozone's Sentix Investor Confidence surprised to the downside in August dropping to 2.7 from 10.1. Analysts expected much less decline to 9.0.
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Aug 4, 2014

UK: Construction PMI drops less than expected in July

UK PMI Construction slid to 62.4 in July, from 62.6 in June, according to data released by the Chartered Institute of Purchasing & Supply and Markit Economics. Market consensus pointed to a drop to 62.0.
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