GBP futures: upside running out of steam

Preliminary data for GBP futures markets provided by CME Group showed open interest decreased more than 1.7K contracts on Monday vs. Friday’s final 181,181 contracts. In the same line, volume went down by more than 18.5K contracts, the first decrease after two consecutive advances.

GBP/USD still capped by 1.3440

Yesterday’s indecision in Cable’s price action was against the backdrop of declining both volume and open interest, showing the recent rally could be running out of legs, leaving the critical resistance in the 1.3440 area still untested.

Nov 28, 2017

China: Focus shifts on manufacturing PMI – Wells Fargo

Analysts at Wells Fargo explain that manufacturing activity in China has held steady over the past several months as shown by the manufacturing PMI.

US: Focus on advance goods trade balance and home price index - Nomura

Analysts at Nomura suggest that based on incoming container shipping data at major US ports, they expect a slight widening in trade deficit to $64.2bn