• Apple results lift the mood in markets
• Job numbers to dictate USD moves
GBP continued to drop across the board yesterday despite no major news or data in the markets. USD traded within a tight range over the course of the afternoon, but following positive results from Apple last night, we saw a rise in equity futures which has resulted in weakness in USD ahead of today's job numbers.
Following on from the Fed meeting on Wednesday, today's job numbers will be closely scrutinised on whether the data supports the idea that we could see a Fed rate hike this year. Should that be the case then this could well be the start of the 15-year seasonal trend where USD tends to outperform during the month of May. Should the numbers show some loosening in the job market, then we could see further moves beyond resistance levels on GBPUSD and EURUSD. Markets are expecting 240,000 job additions in April, down from 303,000 in March.
Today's Interbank Rates at 09:30 am against GBP movement.
GBP>EUR – 1.1689
GBP>USD – 1.2557
EUR>USD – 1.0741
GBP>CAD – 1.7166
GBP>AUD – 1.9093
GBP>SEK – 13.628
GBP>AED – 4.6121
GBP>HKD – 9.8170
GBP>ZAR – 23.321
GBP>CHF – 1.1401
GBP>PLN – 5.0657
• None today.
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