U.S. High-tech Disappointed Investors - 19.10.2012

Frankly weak U.S. Jobless Claims data and a perceived decline in the shares of technology companies have tempered the appetite of the bulls on Thursday. As a result, the blue-chip Dow broke the four-day rally, and the NASDAQ decline was higher than 1%. The unpleasant surprise was the publication of quarterly results by the Google Internet giant. Earnings per share was only $ 9.03, vs. the expected $ 10.65, the shares "failed" by 8%, pulling the securities of other representatives of the sector. Reports of another technology leader - Microsoft were also worse than market forecasts. The attention should be paid to GBP/USD dynamics. Yesterday we noted a good trading potential in this pair and pointed the important resistance slightly higher than 1.6160. Being at this level, the pair reversed and fell down by more than 100 points. Out of today news the data on the inflation level in Canada (14:30 CET) and secondly Home Sales in the USA (16:30 CET) can be noted.

GBP/USD, 30-Minutes chart