Market conditions post ECB and FOMC have had countless price swings across currency market in both directions of the chart. Directing an overall USD's reaction into a decline coupled with mix market sentiments among some currency pairs have again stalled market movement. Although, CABLE's resiliency and strength during the USD price recovery for the past 6 weeks since May 2014 has remained in focus.
The disappointing figures from the Euro-zone PMI manufacturing have likewise missed-out expectations, Germany and France doing the same have kept a lid on the Euro and stayed within a day's tight range below the 1.3600 levels. While CABLE stayed above the 1.7000 contrary to the USD slight recovery on its price reaching an 80.40 daily high and currently stable for now @80.35 basis point. However, by the middles of the week's report on Consumer confidence slightly expected to be favorable, alongside New Home Sales contrary to GDP#'s -1.8% expectations probably offset any favorable price reaction if GDP misses out wider than expected. Click here
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