9 Apr 2014
Key events later today - RBS
FXStreet (Guatemala) - On the data calendar, UK and German trade data are released and some Chinese macro releases. RBS strategists look at Sterling and commented with regard to Chinese data.
Key Quotes:
“While we remain concerned that UK trade and current account imbalances remain a long-term negative for GBP, the surge in February industrial production likely keeps the focus for GBP on near-term indicators”.
“The major resistance in GBP/USD lies at the 2014 high 1.6823”.
“Though no release time is announced, several Chinese macro indicators are released, none more important than FX reserves, which will shed some light on how much reserve accumulation accelerated as the PBOC prepared to widen the daily trading band in USD/CNY”.
Key Quotes:
“While we remain concerned that UK trade and current account imbalances remain a long-term negative for GBP, the surge in February industrial production likely keeps the focus for GBP on near-term indicators”.
“The major resistance in GBP/USD lies at the 2014 high 1.6823”.
“Though no release time is announced, several Chinese macro indicators are released, none more important than FX reserves, which will shed some light on how much reserve accumulation accelerated as the PBOC prepared to widen the daily trading band in USD/CNY”.