Forex: GBP/USD flat as NFP´s shatter expectations
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GBP/USD
FXstreet.com (Barcelona) - GBPUSD remains flat as US Non Farm Payrolls shattered forecasts at 146K/93K but also saw a significant downward revision of the October figures from 171K to 138K.
The mixed figures arrived alongside US unemployment dropped to 7.7% against expectations of 7.9%. Elsewhere, Canadian unemployment declined to 7.2% against expectations of 7.4%. Cable is currently trading at 1.6010 but seems absent of any of the usual volatility that this event brings. Spot has a slight downside bias, but largely looks initially unaffected by the announcement. An initial test of the upside following the data saw spot find resistance at classic daily S1 at 1.6016. However, with the downbeat ECB assessment yesterday and today's Japanese earthquake underlying sentiment seems to be to the downside.
The mixed figures arrived alongside US unemployment dropped to 7.7% against expectations of 7.9%. Elsewhere, Canadian unemployment declined to 7.2% against expectations of 7.4%. Cable is currently trading at 1.6010 but seems absent of any of the usual volatility that this event brings. Spot has a slight downside bias, but largely looks initially unaffected by the announcement. An initial test of the upside following the data saw spot find resistance at classic daily S1 at 1.6016. However, with the downbeat ECB assessment yesterday and today's Japanese earthquake underlying sentiment seems to be to the downside.
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