Forex: GBP/USD in red ahead of UK data

FXstreet.com (Barcelona) - The sterling is following the rest of the risk-associated assets to the negative territory on Tuesday, ahead of UK data due later. In fact, UK Public Sector Net Borrowing is expected to increase to £14 billion in March from £4.356 billion in the previous month, while the CB Industrial Trends Survey-Orders is forecasted at -14% in April vs. -15% in the prior month.

As of writing, the cross is down 0.21% at 1.5258 with the next support at 1.5199 (low Apr.5) ahead of 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5245 (MA21d) would expose 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).

Apr 23, 2013

Switzerland: Trade surplus narrows less than expected in March

Swiss Trade surplus narrowed to CHF1.9 billion in March from CHF2 billion in February, according to data released today by the Federal Customs Administration. Analysts expected the surplus to narrow to CHF1.15 billion.

Forex: USD/CHF held by Friday’s close, up after Swiss trade data

The USD/CHF is moving under a very narrow daily trading range, of 20 pips at 0.9342/62, and after printing its high by the end of the Asian session, the pair moved back to its lower area ahead of Switzerland trade data for March. The trade surplus eased slightly from 2M (revised from 2.098M) to 1.98M, but came in much higher than the 1.151M expected. Investors are happy to see both exports (from 16,145M to 16.948M) and imports (from 14,047M to 15.048M) climbing to higher values. The publication triggered a rebound, already to 0.9358.