5 Aug 2015
GBP/JPY buoyed ahead of “Super Thursday”
FXStreet (Mumbai) - The bid tone on the GBP recovered once again after, pushing the GBP/JPY back above 194.00 levels ahead of important data events due in the next session, which is being labelled as Super Thursday.
Focus on UK Quarterly Inflation Report (QIR)
The UK data/event calendar on Super Thursday includes BOE rate decision. Minutes, Quarterly Inflation Report (QIR) – which will be followed by the press conference. However, the market seems focused on the QIR and Carney’s comments, which could offer clues regarding the timing of the interest rate hike in the US.
Ahead of the key UK events tomorrow, the cross could be influenced by the US ADP employment report and ISM figure due for release today.
GBP/JPY Technical Levels
The immediate resistance is located at 194.61 (July 30 high), followed by a major hurdle at 195.88 (June 24 high). On the other hand, support is seen at 193.22 (daily low) and 192.37 (50-DMA).
Focus on UK Quarterly Inflation Report (QIR)
The UK data/event calendar on Super Thursday includes BOE rate decision. Minutes, Quarterly Inflation Report (QIR) – which will be followed by the press conference. However, the market seems focused on the QIR and Carney’s comments, which could offer clues regarding the timing of the interest rate hike in the US.
Ahead of the key UK events tomorrow, the cross could be influenced by the US ADP employment report and ISM figure due for release today.
GBP/JPY Technical Levels
The immediate resistance is located at 194.61 (July 30 high), followed by a major hurdle at 195.88 (June 24 high). On the other hand, support is seen at 193.22 (daily low) and 192.37 (50-DMA).