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28 November 2005

Expecting more movement for the week ahead...

After a quiet one last week I am expecting more movement for the week ahead, and we have plenty of data to drive the markets from Wednesday onward.

The ECB meet on Thursday (1st December), and the market is pricing in a strong probablity of a 0.25% interest rate hike, bringing Euro rates to 2.25%. Despite this expectation, the Euro contines to slump against the Dollar today, though it gains versus Sterling.

GBP EUR - Support 1.4535/50 then 1.4500
Resistance 1.4650 then 1.4742

GBP USD - Support 1.7000 then 1.6935
Resistance 1.7100 then 1.7230

DATA: US Leading Indicators 15:00

Posted at: 09:10

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