US economy added fewer jobs than expected during December...
Non-farm payrolls came in at 108k Vs 206k expected, showing that the US economy added fewer jobs than expected during December. The dollar duly solf off, with both cable and EURUSD touching their respective long term trend supports (currently resistance) from below during the session. These lie at 1.2175 and 1.7730.
Sterling is having a little bounce against the Euro, on news that German Industrial Production dipped slightly more than expected in November.
We have TWO rate announcements on Thursday, from the BOE and ECB. Both are expected to result in a "no change" vote, but there is room for a surprise 0.25% cut in the UK. More likely this will be delayed until the Feb' meeting though.
GBPEUR - Support 1.4550 then 1.4500
Resistance 1.4615 then 1.4650
GBPUSD - Support 1.7620 then 1.7480
Resistance 1.7730 then 1.7809
DATA: US Consumer Credit
Posted at: 09:01
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