European majors are generally weaker today. Stronger than expected UK PMIs add to the case for BoE to stand pat next week. But the Pound shrugs off the data. Euro also receive no particular support from PMIs, which signals that the economy failed to pick up momentum for recovery. Dollar and Canadian are currently the strongest ones for today. Over the week, Euro and Canadian are the weakest as both suffered selloffs after respective central bank meetings Sterling is the strongest, followed by Yen.

Technically, GBP/USD lost momentum after spiking higher to 1.3174. Intraday bias is turned neutral but another rise is in favor 1.3034 minor support holds. However, break of 1.3034 will turn focus back to 1.2905/54 support zone. GBP/JPY might also have a take on 142.80 minor support. Break will bring deeper fall to 140.83 support.

In Europe, FTSE is up 1.65%. DAX is up 1.50%. CAC is up 1.17%. German 10-year yield is down -0.0004 at -0.305. Earlier in Asia, Nikkei rose 0.13%. Hong Kong HSI rose 0.15%. Singapore Strait Times rose 0.17%. China was on holiday already. Japan 10-year JGB yield rose 0.0053 to -0.019.

Source: www.actionforex.com