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  • Squawk / 1 hour ago
    John J Hardy John J Hardy
    Head of FX Strategy / Saxo Bank
    GBP jumping on strong employment data. UK Feb. Employment Change (3M/3M) at a robust +239k vs. +90k expected and +105k in Jan. and the Unemployment Rate drops to 6.9% vs. 7.1% expected and 7.2% in Jan. GBP jumping on this. This certainly argues for the "slack" in the UK economy looking smaller than Carney has suggested and takes the unemployment rate suddenly below the old 7.0% threshold that was recently abandoned. EURGBP is dropping to new local lows and GBPUSD is within striking distance of the 1.6820 cycle highs.

    March Jobless Claims Change was out at -30.4k vs. -30k expected and -37k in Feb.
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  • 1h
    Kristian Siggaard-Jensen Kristian Siggaard-Jensen
    Our second target here has falled shy by less than a pip a few times now and we choose to cover the rest here at 0.8236. We...
    fxtime fxtime
    A good call Kristian.
  • Squawk / 3 hours ago
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Gold has been on the defensive during Asian trading following a very ugly day yesterday. The news that Ukrainian forces had launched special operations and Putin's warning about a civil war only helped to stabilize the price and not attract new buying. For now the market is back in neutral after the positive sentiment built up over the past week was wiped out in a matter of minutes. The change in sentiment has been driven by improved US economic data this week but also a report from the World Gold Council yesterday did some damage as it estimated that China may have 1,000 tons of gold tied up in trade financing deals. This puts into doubt the future demand from China should the government intensify its attempt to crackdown on using commodities to raise finance. Resistance is today's pivot at 1304.6 followed by 1313. Support at 1293 and 1282
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