Forex: GBP/USD testing 1.5300 level

FXstreet.com (Barcelona) - The GBP/USD has jumped to fresh highs Tuesday, on the heels of mixed economic data out of the UK. The cross is presently testing the 1.5300 level in these moments, recording an advance of nearly +0.25%.

In the United Kingdom, Goods Trade Balance (February) came in at £-9.416B, against estimates of just £8.550B. Moreover, Industrial Production (YoY) has fallen only -2.2% in February, vs. a projected -2.8%. Finally, Manufacturing Production (YoY) contracted -1.4% in February, beating a consensus of -1.5%.

Mataf.net analysts points to short-term supports at 1.5329, onto 1.5389, and 1.5434. On the decline, the GBP/USD is slated to face short-term support at 1.5224, ahead of 1.5179, and finally the 1.5119 handle.

Apr 9, 2013

OECD: Slovenia at risk of a severe banking crisis

The OECD released a report on Tuesday in which it analyzes the state of Slovenia’s financial sector and warns that the country, already in recession, is at risk of a severe banking crisis. With bad loans stacking up in Slovenian banks, which heavily rely on ECB financing, the possibility of the country asking international lenders for help is increasing.

UK: Goods trade deficit narrows more than expected in February

UK Goods trade deficit narrowed to £9.416 billion in February from £8.168 billion in January, according to data released today by National Statistics. Analysts expected the deficit to narrow only to £8.550 billion.