FxWirePro: Glencore share losses influence cable drop to 1.5194
Glencore shares on track for worst ever one-day drop, down in heavy volumes after bearish Investec note Investec questioned equity value for shareholders if spot metal prices do not improve and said Glencore's recent res…
Glencore shares on track for worst ever one-day drop, down in heavy volumes after bearish Investec note
Investec questioned equity value for shareholders if spot metal prices do not improve and said Glencore's recent restructuring just the beginning for the mining sector
Commodity currencies & GBP hit hard, GBP/USD deflated, retreats to 1.5200 from 1.5241 London am high
GBP/USD is currently trading at 1.1591, below the 1.52 handle, with immediate resistance 1.5248 (50% of Apr-June rally), while support lies at 1.5163 (Sep 4 low)
Due ahead in the U.S. session U.S. inflation figures, Personal Income/Spending, Pending Home Sales and the Dallas Fed Manufacturing Business Index in focus for cues
Breaks below channel bottom at 1.5158 could see the pair at 1.5130 levels
