French PMIs below Estimates

The French PMIs were released below estimates. The Flash Manufacturing dropped under 50 (49.6), and the Services was released 52.0 vs an expected value of 53.9. EURUSD dropped fast 13 pips and it might continue the drop towards the 1.0923 support

Razvan Mihai

GBPUSD – Will we see a split?

In less than 10 minutes we will have the release of the MPC Official Bank Rate Votes. The markets are expecting for the votes to remain the same. Still the GBP rallied earlier today because of the hawkish position took by David Miles, one of the MPC members. A value like 2-0-7 could trigger another rally for the GBP.

Razvan Mihai

NFP Dissapointed

The US economic releases have disappointed the market. The Non-Farm Payrolls were under estimates, 223K and the average hourly earnings remained unchanged. These triggered high volatility and a drop for the US dollar.

Razvan Mihai

1.1100 is under pressure

1.1100 round level is again under bears pressure. A break below this support could trigger a bigger drop for EURUSD. Next support is found at 1.1050.

Razvan Mihai

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