Bulls seize the initiative? - 25.10.2012

American session was ended with moderate lowering in the main indexes: investors are staying concerned due to the bunch of weak macroeconomic reports and varied quarterly data from corporations. Against the falling market, the Facebook shares are rightly highlighted: shears of the largest social network skyrocketed by 19% within one session, after growth of income by 32%. Now the focus is on the data from Apple coming after the market closure. The important event for technology sector and of course for equities market for today is going to be the Windows 8 presentation by Microsoft. The traders sentiment at the morning session can be characterized as positive. The main commodity contracts are marked with growth, as same as quotes for Euro that is testing the new local high at 1.30 vs. greenback. We make an accent on NZD confident growth that has gotten support due to factored comments by national Central Bank. The AUD/USD trades are market with growth: the 200-daily average breakthrough opens perspectives for the next important resistance level at 1.0420. Out of the macro data, the first (the most important) version of the UK GDP report for the third quarter is remarkable. Significant indicator growth is expected. In positive case, GBP/USD has all chances to test the key resistance at 1.6130.

GBP/USD, daily chart