Free Trial

Cable last sits at $1.3261, a touch lower.....>

CABLE
CABLE: Cable last sits at $1.3261, a touch lower on the day, after dropping 46
pips yesterday, as month-end EUR/GBP demand weighed on sterling, while stronger
than forecasted U.S. GDP and Chicago PMI figures buoyed USD. Subsequent recovery
around the 1600GMT fix was followed by a fall to the intraday low of $1.3254.
- Worth mentioning a pro-Brexit UK minister Eustice quit the Cabinet, protesting
against PM May's decision to allow parliament to extend Art. 50.
- $1.3212/11, which represents the 100-WMA/100-HMA, provides the initial layer
of support. Meanwhile, bulls look to the upper 1.0% 10-DMA envelope at $1.3262,
ahead of the Sep 21 high of $1.3277.
- UK m'fing PMI comes out later today, while Brexit matters will remain in the
spotlight.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.