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26 Mar 2013
Forex: GBP/USD downside held at 1.5140 zone
FXstreet.com (Barcelona) - Downside pressure showed up since mid-London morning after failing to climb above 1.5200 and then the market pulled the GBP/USD to 1.5140 zone (low at 1.5135), where it has been finding support. Still, the pair remains subdued after the US data load.
US consumer confidence fell from 68.0 (revised from 69.6) to 59.7 in March (consensus of 68.0), while New Home Sales dropped from 0.431M (revised from 0.437M) to 0.411M (consensus of 0.422M). Richmond Fed manufacturing was also a disappointment, at 3 (from 6, consensus of 8). US S&P/Case-Shiller Home Price Indices rose from 6.8% to 8.1% in January, beating the 7.9% consensus.
Earlier, US Durable Goods Orders rose 5.7% in February, beating consensus of 3.8%. January data was revised higher from -4.9% to -3.8%. Excluding transportation, durable goods orders dropped -0.5%, disappointing expectations of +0.5%, but saw its January print being revised higher from 2.3% to 2.9%. The ex-transportation print at -0.5% was the first negative one in five months.
US consumer confidence fell from 68.0 (revised from 69.6) to 59.7 in March (consensus of 68.0), while New Home Sales dropped from 0.431M (revised from 0.437M) to 0.411M (consensus of 0.422M). Richmond Fed manufacturing was also a disappointment, at 3 (from 6, consensus of 8). US S&P/Case-Shiller Home Price Indices rose from 6.8% to 8.1% in January, beating the 7.9% consensus.
Earlier, US Durable Goods Orders rose 5.7% in February, beating consensus of 3.8%. January data was revised higher from -4.9% to -3.8%. Excluding transportation, durable goods orders dropped -0.5%, disappointing expectations of +0.5%, but saw its January print being revised higher from 2.3% to 2.9%. The ex-transportation print at -0.5% was the first negative one in five months.