7 Jun 2013
Flash: GBP/USD momentum high pre NFP - Investec
FXstreet.com (Barcelona) - Lee McDarby of Investec Treasury notes that all eyes are on the US today with the release of this month’s Non Farm Payroll number at 13:30.
He adds that after the ADP figure suprised to the downside on Wednesday coming in at 135k, down from the previous 165k, close attention will be shown to today’s main event. He writes, “With GBP/USD taking new momentum higher, a skew from consensus could well prompt some fairly abrupt reversals. In the hours leading up to the release we should be able to gauge a sense of risk sentiment. The market looks relatively bid on the dollar with the greenback gaining ground this morning on its main trading counterparts.”
He adds that after the ADP figure suprised to the downside on Wednesday coming in at 135k, down from the previous 165k, close attention will be shown to today’s main event. He writes, “With GBP/USD taking new momentum higher, a skew from consensus could well prompt some fairly abrupt reversals. In the hours leading up to the release we should be able to gauge a sense of risk sentiment. The market looks relatively bid on the dollar with the greenback gaining ground this morning on its main trading counterparts.”