Forex: EUR/GBP flat below 0.8100, 50% Fibo
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EUR/GBP
FXstreet.com (San Francisco) - EURGBP continues to consolidate below 0.8100 after an overnight bounce from channel support circa 0.8060, now holding flat around the 0.8085 price zone as there's nothing going on in FX so far this Thursday. Upside rallies are likely to encounter resistance in the 0.8125-35 region which coincides with a 50% Fibonacci retracement of the 0.8504/0.7752 fall and the 50-week EMA. Support is noted at 0.8030 (Nov 7 high).
Regional equities rose to three-week highs today, lifted by optimism over a potential budget deal between US lawmakers on the fiscal cliff. Japan's Nikkei is currently up 0.9%, Australian shares are up 0.7%, Hong Kong stocks are up 1.27%, and the S&P CNX Nifty is quoted up over 1%.
In the European session ahead &
& fundamental focus will fall on Swiss growth figures for Q3 (forecast: +0.9% y/y, +0.2% q/q), as well as German unemployment data, which is expected to rise by 16K in November, and the unemployment rate to remain at 6.9%. In the UK, Nationwide Housing Price numbers are on the docket at 07:00 GMT, along with Oct Mortgage Approvals at 09:30.
Regional equities rose to three-week highs today, lifted by optimism over a potential budget deal between US lawmakers on the fiscal cliff. Japan's Nikkei is currently up 0.9%, Australian shares are up 0.7%, Hong Kong stocks are up 1.27%, and the S&P CNX Nifty is quoted up over 1%.
In the European session ahead &
& fundamental focus will fall on Swiss growth figures for Q3 (forecast: +0.9% y/y, +0.2% q/q), as well as German unemployment data, which is expected to rise by 16K in November, and the unemployment rate to remain at 6.9%. In the UK, Nationwide Housing Price numbers are on the docket at 07:00 GMT, along with Oct Mortgage Approvals at 09:30.
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