Forex: GBP/USD supported 1.5200 in European session

FXstreet.com (London) - Cable is oscillating between1.5200/35 above 1.5190 the downside pivot and below 1.5282 to the upside pivot.

The market is patient ahead of plenty of US data with Claims/CPI/Philly and the Fed speaking circuit, with Plosser Rosengren, Fisher Raskin, Williams speaking. While the current tight ranges hold on a close after today, a risk of 1.5300 could be on the cards. Otherwise, a retest lower through 1.5200 and closing opens 1.5050 and possibly the lows 1.4830 indicated in the charts.

May 16, 2013

European equity markets mixed after EMU CPI

The European stock markets are currently a mixed bag Thursday, unable to mount any manner of movement in either direction. Indeed, the biggest action came earlier with the release of economic data in the euro bloc, however since then the markets have opted for a lull. In the EMU, the Consumer Price Index (YoY) has grown +1.2% in April vs. estimates of +1.2%. Moreover, the Consumer Price Index – Core (YoY) has yielded +1.0% in April, matching a projection of +1.0%. Finally, the Consumer Price Index (MoM) fell -0.1% in April, in line with expectations.

Forex: EUR/USD holding up against 1.2845/50 support

EUR is holding up for the time being, with a market very long of dollars with still a preference to short EUR/USD in advances any higher towards 1.2900 the figure.