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Sterling lower ahead NFP figures

Friday, Jun 05 2015
With no major data releases from the UK today, traders are being cautious ahead of NFP figures. Sterling remains stable, despite mixed PMI figures. Most of the support for Sterling at the moment comes from expectes further economic growth as well as stabilitay at labor and housing market.
 
 
Halifax’s house price index, published yesterday, revealed that house prices edged down by 0.1% between April and May, however over the year, they rose to 8.6% from 8.5% in the preceding month.
 
 
BoE Inflation rate survey showed that on question on current rate of inflation, respondents gave a median answer of 2.2%, unchanged since February. 
 
Sterling is currently being traded slightly above 1.53 area. Pair is likely to find support around 1.5250 level and resistance above 1.54 area. Later today, in the US session, NFP figures are scheduled for a release.
 
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