Tag Archives: BOE

EUR/GBP spikes to two-and-half-week high, 0.8500 mark back in sight

EUR/GBP gains traction for the second straight day and climbs to over a two-week high on Friday. The BoE’s bleak outlook offsets mostly better-than-expected UK data and undermines the GBP. Upbeat Eurozone Industrial Production figures further provide a lift to the cross in the last hour. Concerns about the energy crisis in Europe  could act… Read More »

GBP/JPY sticks to gains near daily high, holds comfortably above mid-162.00s

GBP/JPY gains some positive traction on Friday and recovers further from the weekly low. Mostly better-than-expected UK macro data benefits the British pound and offers support. The offered tone surrounding the safe-haven JPY remains supportive of the positive move. The GBP/JPY cross builds on the overnight goodish bounce from the 161.25 area, or the weekly… Read More »

GBP/USD seesaws 30-pip around 1.2200 on better-than-expected Q2 UK GDP

GBP/USD initially spiked up before retreating on the UK data-dump. UK Q2 GDP contracted 0.1%, monthly statistics remained fairly mixed for June. US dollar weakness initially helped cable bulls but Fed’s resistance to welcome inflation probed upside momentum. First impressions of the US Michigan Consumer Sentiment Index for August will be eyed to confirm inflation-linked… Read More »

When is the UK Q2 GDP and how could it affect GBP/USD?

The British economic calendar is all set to entertain the cable traders in early Friday, at 06:00 GMT, with the preliminary GDP figures for Q2 2022. Also increasing the importance of that time are monthly GDP figures for March, Trade Balance, Manufacturing Production, and Industrial Production details for the stated period. Having witnessed an 8.7%… Read More »

GBP/USD slides below 1.2900 with eyes on UK GDP, US Michigan Consumer Sentiment Index

GBP/USD extends the previous day’s losses towards refreshing daily low, mildly offered of late. Hawkish Fedspeak contradicts recently softer US inflation data and helps US dollar to lick its wounds after five-day downtrend. Jitters surrounding UK politics, Brexit join BOE’s gloomy outlook to keep buyers at bay. The preliminary reading of the UK’s Q2 GDP… Read More »

Pound Sterling Price News and Forecast: GBP/USD climbs back above 1.2100 mark

GBP/USD Forecast: Pound remains fragile despite latest recovery attempt GBP/USD has gathered recovery momentum and climbed above 1.2100 during the European trading hours on Tuesday. The pair closes in on key resistance levels and it could find it difficult to attract buyers ahead of the US Consumer Price Index data on Wednesday. In an interview… Read More »