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DAILY MARKET REVIEW — 23/02/2017

DAILY MARKET REVIEW — 23/02/2017

 

Political news drive the markets today

 

Forex

GBP/USD

The GBP fell against the US dollar yesterday. Data on GDP for Q4 2016 in the final estimate disappointed traders and put pressure on the pound. U.S. existing home sales were higher than expected and provided support for the USD. Meanwhile, FOMC’s meeting minutes didn’t provide support for USD so the pair closed the session in sideways.

Today, the pair started to recover yesterday’s loses.  Later at 13:30 (GMT) US labor market data will be published.

 

Resistance: 1,25075, 1,025472, 1,25816
Support: 1,24259, 1,23827, 1,23447

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