U.S. manufacturing data boosts global stocks

Published on in Foreign Exchange News by

Foreign Exchange Rates Ranges EUR/USD 1.3207-1.3241

Foreign Exchange Rates Ranges GBP/USD 1.6218-1.6237

Foreign Exchange Rates Ranges GBP/EUR 1.2252-1.2281

Currencies traded in relatively tight ranges overnight ahead of European PMI data due today as well as the debate to be shown live on television between French President Sarkozy and Socialist Hollande ahead of next week’s French election.

Stronger U.S. manufacturing data yesterday was enough to give the global stocks a boost, however had little effect on currencies. Overall, Sterling still looks firm against the Euro although relatively unchanged against most currency pairings. Market preference is still to `sell Euro rallies ‘ in general.

Foreign Exchange Rates EUR/USD currently 1.3225. Support 1.3000, resistance 1.3300.

Foreign Exchange Rates GBP/USD currently 1.6228. Support 1.6000, resistance 1.6300.

Foreign Exchange Rates GBP/EUR currently 1.2270. Support 1.2100, resistance 1.2400

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