Free Trial

Slowly recovering, off late Europe morning....>

CABLE
MNI (London)
CABLE: Slowly recovering, off late Europe morning lows of $1.3254, as rate
recoups some of its data react losses to $1.3275. Cable had seen a high of
$1.3329 in early Europe, extending the Asian high of $1.3315 (NY high $1.3300
Sep12) before sterling was knocked back by release of disappointing wage data in
the Employment Report. Tuesday's strong Inflation data had prompted stronger
suggestions that the BOE MPC Minutes Thursday could tilt toward the hawkish
side. However, today's data may have dented this outlook a tad, strong
employment, minimal wage growth and strong inflation provides a quandary for the
Bank. Hourly resistance now seen at $1.3290/1.3300.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.