GBP CONSTRUCTION PMI

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Technical Analysis Daily Majors & Minors

• AUD/USD - traded as low as 0.7730 in inter-bank trading, following a downbeat

official Chinese PMI and shocking political results out of Australia over the weekend,

adding pressure to the ongoing bear trend in the pair. But how will this pair trade like

in todays session?

• EUR/USD - found support once again at the 1.1300 zone and bounced toward fresh

session highs, as disappointing US data weighed on the greenback. But will we see a

further decline?

• GBP/USD is currently trading at 1.5050 with a high of 1.5105 and low of 1.5004.

GBP/USD is capped by the tough resistance at 1.5080, with a score or two onto the

1.51 handle, but contained in the main within a narrow range where the downside has

tested the 1.5000 level scoring a low of 1.4987. But how will this pair trade like in

todays session?

Quick Daily update

• President Barack Obama on Monday proposed a $3.99 trillion budget for fiscal year

2016 that sets up a battle with Republicans over programs to boost the middle class

that are funded by higher taxes on corporations and wealthy Americans.

• The U.S. dollar hit a more than two-week high against the Swiss franc on Monday on

signs that the Swiss National Bank has intervened to weaken the franc, but moved

lower against the euro and yen on disappointing U.S. economic data.

Daily News To Watch

Tuesday, 3rd February 2015 Previous Forecast Actual

0:30am AUD Building Approvals m/m 7.5% -4.8

AUD Trade Balance -0.93B -0.85B

3:30am AUD Cash Rate 2.50% 2.50%

AUD RBA Rate Statement

8:00am EUR Spanish Unemployment -64.4k 83.4k

Change

9:30am GBP Constuction PMI 57.6 56.9

21:45 NZD Employment Change q/q 0.8% 0.8%

Happy Trading,

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