Investing.com – The pound pared losses against the U.S. dollar on Wednesday, retreating from a daily low, after official data showed that U.S. core durable goods orders fell unexpectedly in September.
GBP/USD retreated from 1.5758 the daily low, to hit 1.5824 during European afternoon trade, shedding 0.12%.
Cable was likely to find support at 1.5650, the low of October 22 and resistance at 1.6002, the high of October 18.
Earlier in the day, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 0.8% in September, after rising by a revised 1.9% in August. Analysts had expected core durable goods orders to rise by 0.2% in September.
Durable goods orders which include transportation items rose significantly more-than-expected in September, rising by a seasonally adjusted 3.3% after falling by a revised 1.0% in August. Analysts had expected durable goods orders to rise by 1.7% in September.
Meanwhile, the pound was up against the euro, with EUR/GBP shedding 0.12% to hit 0.8734.
Later in the day, the U.S. was to release official data on new home sales.
GBP/USD retreated from 1.5758 the daily low, to hit 1.5824 during European afternoon trade, shedding 0.12%.
Cable was likely to find support at 1.5650, the low of October 22 and resistance at 1.6002, the high of October 18.
Earlier in the day, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 0.8% in September, after rising by a revised 1.9% in August. Analysts had expected core durable goods orders to rise by 0.2% in September.
Durable goods orders which include transportation items rose significantly more-than-expected in September, rising by a seasonally adjusted 3.3% after falling by a revised 1.0% in August. Analysts had expected durable goods orders to rise by 1.7% in September.
Meanwhile, the pound was up against the euro, with EUR/GBP shedding 0.12% to hit 0.8734.
Later in the day, the U.S. was to release official data on new home sales.