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Thursday, October 1st
GBP/USD continued its decline on Wednesday as British GDP numbers came out in the red colour. The British economy was expected to expand 2.6%, but actual GDP figure was at 2.4% YoY, which provides additional place for BoE monetary policy speculations. Ahead in the day, market is watching the UK Manufacturing PMI. Cable is currently trading at 1.5126 with support and resistance levels located at 1.4998 and 1.5248, respectively.
EUR/USD was down amid lower CPI numbers on Wednesday and upbeat employment data from US. The ADP Nonfarm Employment Change report showed 200K figure versus 194K expected, while euro zone CPI was negative at 0.1%. The single currency is changing hands at 1.1142 ahead of European Manufacturing PMI data. On the US side, investors are watching ISM Manufacturing PMI. Support and resistance levels are at 1.1057 and 1.1276, respectively.
AUD/USD was higher amid Chinese Manufacturing PMI coming out higher than expected at 49.8 while Caixin Manufacturing PMI was at 47.2, in line with the forecast. Meanwhile, Australian AIG Manufacturing Index was higher than last month’s reading by 0.4 at 52.1. Current support is located at 0.6965, while resistance is seen at 0.7093.
USD/JPY was higher today after mixed Japanese data. Tankan Large Manufacturers Index slightly missed the expectations of experts, while Tankan Large Non-Manufacturers Index was significantly higher than expected. The pair is trading at its current 120.14 level. Tomorrow, traders are closely watching Japanese data including Household Spending, Unemployment rate and Jobs/applications ratio. The important levels to watch today are 119.12 for support and 121.13 for resistance.
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