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Intraday bias in GBP/USD remains on the upside further rise could be seen to 100% projection of 1.5829 to 1.6327 from 1.5896 at 1.6304 as correction from 1.5892 continues. Nevertheless, upside should be limited below 61.8% retracement of 1.6875 to 1.5829 at 1.6475 and bring resumption of the whole fall…

Dollar was sold off earlier today on risk appetite and remains soft in early US session. Japanese yen follows and is broadly lower against major currencies. Sterling is the bigger winner today, as a report showed that businesses are becoming optimistic about prospects of 2010. Euro is also helped by…

French Industrial Production m/m came in at 1.1%, stronger than the 0.5% expected and -0.6% prior reading. Y/Y came in at -3.8%, stronger than the -5.2% expected and prior reading of -8.0%.

Manufacturing Production m/m came in at 1.6%, stronger than the 1.0% expected and -0.5% prior reading. Y/Y came in at -2.9%, stronger than the -4.4% expected and prior reading of -8.2%

Not much market effect in regard to these figures as Eur/Usd remains to trade either side of 1.4500.

Philipp Hildebrand just announced that the Swiss National Bank will continue to prevent “excessive’ Franc gains against the Euro.  In response to this; the EUR/CHF gained an initial 40 pips and pushed to a new session high of 1.4095 but has since come off and is trading below the 1.4080 handle.  In addition, the USD gained 28 pips aginst the CHF and it is still approaching the 1.0200 level.

The USD is trading sharply lower pressured by fallout from Friday’s release of weaker than expected nonfarm payrolls, the weaker than expected US employment report is expected to prevent the Fed from adopting an earlier rate hike, USD was also pressured by a surge in gold prices which gapped open…

U.S markets will probably remain quiet today amid the lack of economic fundamentals from the United States, where so far we have witnessed a gradual improvement in economic activity, since activity in several sectors including the manufacturing, the services, and the housing sectors started to increase slightly, and this would…

Whichever way you look at it, the US dollar fundamentals remain very poor and the employment data will trigger a renewed downward shift in US interest rate expectations. Given this backdrop, there should be a clear case for a dollar bearish outlook. The situation is, however, complicated by the fact…

* Times listed are GMT

Cable has risen during the day and is testing the Resistance region of 1.6183-6210 mentioned in the morning. Once it is able to break past this Resistance zone, there are other numerous Resistances overhead between 1.62-1.63. Overall Cable has been bearish over the last several weeks. A strong break past…

Markets seem to have shrugged off the disappointing US non-farm payrolls data, with equity and commodity prices rallying as yields slipped. Friday closed with the S&P up 0.3% and yield curve steepened further, with US 2yrs rates dropping 5bp. Comments from Fed’s Bullard today gave risky assets a boost, as…