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/USD meets with a fresh supply on Friday and retreats further from the post-US CPI swing high. The BoE’s bleak outlook undermines the GBP and acts as a headwind amid a modest USD strength. The better-than-expected UK macro data does little to impress bulls or lend support to the major. The GBP/USD pair turns lower… Read More »
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 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 »
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 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 »
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GBP/USD is facing barricades around 1.2200 as investors await UK GDP data. A vulnerable UK GDP will accelerate troubles for the BOE. Higher Initial Jobless Claims have supported the DXY at lower levels. The GBP/USD pair is hovering around the immediate hurdle of 1.2200 after a modest rebound from 1.2185. The asset defended Wednesday’s low… Read More »
GBP/USD is juggling in a 28-pip range as investors await UK GDP data. The BOE is worried over soaring consensus for price pressures. Japan’s administration is eyeing measures to paddle up the labor cost index. The GBP/JPY pair is displaying back and forth moves in a narrow range of 163.00-163.28 from the New York session… Read More »
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 »
GBP/USD regains traction on Tuesday amid some USD selling for the second straight day. A generally positive risk tone seems to be a key factor weighing on the safe-haven greenback. The BoE’s bleak economic outlook could act as a headwind for the GBP and cap the upside. The GBP/USD pair attracts fresh buying on Tuesday… Read More »
