The spotlight event of the month for the forex markets is today’s US NFP release. As USD sentiment seems to have shifted to fundamental flows rather than risk flows, a disappointing number could weaken the USD. $GBPUSD has found support at 1.6160 all week. US NFP should be a catalyst for further correction or a continuation of the bullish trend.
- NFP Friday (Big Trading)
- Risk Management On GBP/USD And GBP/JPY Ahead Of NFP (FX360)
- GBPNZD brokeout of the weekly trendline resistance (Chart.ly)
- GBPUSD Daily – October High Offering some support on the sterling correction (Chart.ly)
- Solid growth of UK service sector signalled in April (MarkIt Economics) [pdf]
- SERVICES COOL A LITTLE (EconomicsUK.com)
- Forecasts on UK economy point to further downturn (The Guardian)
- BOE King: Low Interest Rates Needed Now To Get Steady Growth (Forex Live) [Here is an interesting response to King’s speech.]
- BoE should have given stronger crisis warning (Reuters)