Sterling Commentary for 17-Mar-10

Receive this report via email for free

Compelling Content for Websites & Investors

Show this report on your site

Sterling Commentary provided by GCI Financial Ltd:
Tables & Charts

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5200 figure and was supported around the $1.4975 level. Data released in the U.K. today saw the DCLG January house price index expand 6.2% y/y, the highest increase since February 2008. Bank of England Monetary Policy Committee member Barker yesterday reported the U.K. economy could recede again, adding the economic recovery will continue to be “bumpy and fragile.” Cable continues to suffer from political uncertainty ahead of the upcoming mandatory General Election. Prime Minister Brown is expected...continued 


Sterling Focus
 
Day's Change 52-Week High 52-Week Low

Instrument

Current

Points % Date Value Date Value
Exchange Rates

16-Mar-10

EUR/GBP Fwd-1 Yr This marker indicates the current chart. 4.0000 0.0000 0.00% 29-Jan-10 281.0000
GBP/AUD This marker indicates the current chart. 1.6470 0.0000 0.00% 16-Mar-09 2.1348 9-Mar-10 1.6348
GBP/CAD This marker indicates the current chart. 1.5333 0.0000 0.00% 29-Jun-09 1.9218 15-Mar-10 1.5333
GBP/CHF This marker indicates the current chart. 1.5976 0.0000 0.00% 7-Aug-09 1.8035 15-Mar-10 1.5976
GBP/EUR This marker indicates the current chart. 1.1010 0.0000 0.00% 16-Jun-09 1.1840 18-Mar-09 1.0581
GBP/JPY This marker indicates the current chart. 135.9200 0.0000 0.00% 7-Aug-09 162.7200 1-Mar-10 133.3200
GBP/USD Fwd-1 Yr This marker indicates the current chart. -31.8000 0.0000 0.00% 17-Mar-09 50.7000 24-Nov-09 -66.5000
USD/GBP This marker indicates the current chart. 0.6643 0.0000 0.00% 13-Mar-09 0.7144 5-Aug-09 0.5889
 
Interest Rates

16-Mar-10

USD 3M LIBOR This marker indicates the current chart. 0.2600% 0.0020% 0.77% 13-Mar-09 1.3160% 3-Feb-10 0.2490%
 
Indices

16-Mar-10

NASDAQ This marker indicates the current chart. 2,362.21 0.00 0.00% 11-Mar-10 2,368.46 16-Mar-09 1,404.02
 

source: DTN Market Access


part 1...to lose to Tory leader Cameron but Cameron may not be able to form a majority government if he wins, and this could lead to a weaker pound. Many data will be released in the U.K. including February jobless claims along with the BoE MPC meeting minutes. Cable bids are cited around the US$ 1.4455 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the US$ 0.9045 level and was capped around the $0.9120 level.

SUPPORT   RESISTANCE

L1. 1.5345 1.5880

L2. 1.5160 1.6215

L3. 1.4950 1.6530

top

Receive this report via email for free

GCI Financial Ltd is a leading provider of professionally- managed foreign exchange investment services and offers a comprehensive online foreign exchange trading/ dealing platform for individual and institutional clients. www.gcitrading.com.

© 2002 theFinancials.com & GCI Financial Ltd
All rights reserved.
  Republication or redistribution of this content is expressly prohibited without the prior written consent of theFinancials.com & GCI Financial Ltd

DISCLAIMER: Commentary and market information is provided for informational purposes only.  The information contained in this report is gathered from reputable sources and is not intended to be used as investment advice.  theFinancials.com assumes no responsibility or liability from gains or losses incurred by the information herein contained.