London, May 2. Cable has revisited yesterday"s early NY session high of 1.9873 after sating sell interest circa 1.9850. Further supply is touted ahead of 1.9900 (yesterday"s high was 1.9910).
Fresh M&A-related GBP demand by a French bank, plus GBP buying out of Germany, were flagged as factors in cable"s sharp lift off the intra-day low of 1.9724 plumbed after the 07:00GMT disclosure of weak Halifax UK house price data. The French bank was also an M&A-related GBP buyer yesterday (and last month). Their interest reportedly derives from EDF"s planned bid for British Energy, which is valued at GBP 9bn.
Today"s key event risk is the 12:30GMT publication of April"s US employment report. Down 75k is the Non-Farm Payroll consensus forecast, to follow March"s 80k NFP drop. [email protected]
Fresh M&A-related GBP demand by a French bank, plus GBP buying out of Germany, were flagged as factors in cable"s sharp lift off the intra-day low of 1.9724 plumbed after the 07:00GMT disclosure of weak Halifax UK house price data. The French bank was also an M&A-related GBP buyer yesterday (and last month). Their interest reportedly derives from EDF"s planned bid for British Energy, which is valued at GBP 9bn.
Today"s key event risk is the 12:30GMT publication of April"s US employment report. Down 75k is the Non-Farm Payroll consensus forecast, to follow March"s 80k NFP drop. [email protected]