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1 Apr 2014
EUR/GBP better bid, up 0.32%
FXStreet (Guatemala) - Currently, EUR/GBP is trading at 0.8289, up 0.32% on the day, having posted a daily high at 0.8308 and low at 0.8261.
EUR data better than expected
Strategists at TD Securities noted that this morning’s series of manufacturing PMI data was largely better than expected, with the first prints for Italy and Spain surprising to the upside, and France even getting revised up a touch further. "The German PMI was revised down a hair from what was already a disappointing March print, but the labour market data was a bit better with the number of unemployed falling by –12K (mkt –10K) and the unemployment rate at 6.7% (mkt 6.8%)".
GBP data mixed
Strategists at TD Securities explained that the UK’s manufacturing PMI slipped from a downwardly-revised 56.2 (originally 56.9) to 55.3 in March (mkt 56.7), its lowest level in 8 months, with the report full of mixed signals. "The soft spots were the investment goods sector, where "rates of expansion eased markedly," as well as export orders, which slipped to a 10-month low. On the upside, domestic orders were still strong and the pace of employment growth is still close to a 3y high, as the report says, "Head counts were increased in response to rising production and demand requirements." So the outlook for the manufacturing side still looks quite strong, and the PMI is still about 4pts above its long-run average. But we're just not seeing the breakneck speed of growth from before".
EUR/GBP Levels
Current price is 0.8290, with resistance ahead at 0.8292 (Daily Classic R1), 0.8300 (Yesterday's High), 0.8302 (Weekly Classic PP), 0.8308(Daily High) and 0.8311 (Daily 100 SMA). Next support to the downside can be found at 0.8284 (Hourly 100 SMA), 0.8281 (Hourly 20 EMA), 0.8271 (Daily Classic PP), 0.8264 (Weekly Low) and 0.8264 (Daily Open).
EUR data better than expected
Strategists at TD Securities noted that this morning’s series of manufacturing PMI data was largely better than expected, with the first prints for Italy and Spain surprising to the upside, and France even getting revised up a touch further. "The German PMI was revised down a hair from what was already a disappointing March print, but the labour market data was a bit better with the number of unemployed falling by –12K (mkt –10K) and the unemployment rate at 6.7% (mkt 6.8%)".
GBP data mixed
Strategists at TD Securities explained that the UK’s manufacturing PMI slipped from a downwardly-revised 56.2 (originally 56.9) to 55.3 in March (mkt 56.7), its lowest level in 8 months, with the report full of mixed signals. "The soft spots were the investment goods sector, where "rates of expansion eased markedly," as well as export orders, which slipped to a 10-month low. On the upside, domestic orders were still strong and the pace of employment growth is still close to a 3y high, as the report says, "Head counts were increased in response to rising production and demand requirements." So the outlook for the manufacturing side still looks quite strong, and the PMI is still about 4pts above its long-run average. But we're just not seeing the breakneck speed of growth from before".
EUR/GBP Levels
Current price is 0.8290, with resistance ahead at 0.8292 (Daily Classic R1), 0.8300 (Yesterday's High), 0.8302 (Weekly Classic PP), 0.8308(Daily High) and 0.8311 (Daily 100 SMA). Next support to the downside can be found at 0.8284 (Hourly 100 SMA), 0.8281 (Hourly 20 EMA), 0.8271 (Daily Classic PP), 0.8264 (Weekly Low) and 0.8264 (Daily Open).