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 »
Quarterly GDP for the UK contracted by 0.1% in Q2 vs. -0.2% expected. UK GDP arrived at -0.6% MoM in June vs. -1.3% expected. GBP/USD recaptures 1.2200 on upbeat UK GDP. The British economy contracted 0.1% QoQ in the three months to June when compared with a 0.8% growth booked in Q1 and -0.2% expectations.… Read More »
Analysts at Scotiabank offer a sneak peek at what they expect from Wednesday’s US inflation release. Key quotes “The Cleveland Fed’s inflation ‘nowcast’ points toward inflation running a tenth or two beneath 9% y/y and it has been slightly underestimating actual CPI inflation for several months.” “Further, while some PMIs have been indicating lessening price… Read More »
