The sterling pound (GBP) is weak, falling 0.3% against the US dollar (USD) and with a lower performance than the majority of the G10 currencies, with the exception of the CHF, they report the Chief of Currencies of Scotiabank, Shaun Osborne and Eric Theoret.
The markets focus on the BOE
“The preliminary PMI disappointing are weighing on the pound, specifically the weakest PMI (51.2 compared to 52.9 expected and 52.8 above), since the publication of the manufacturer offered a modest surprise (48.2 compared to 48.0 expected and 47 above). The figures of feeling of the CBI were in line with the expectations and the participants of the market They will be attentive to retail sales on Friday as the culminating point of the week. “
“None of these data are likely to change the thought of the BOE before the policy decision of August 7, where the Central Bank is expected to maintain its position. The perspective remains moderate, with the markets valuing approximately an additional cut of 25 basic points by the end of the year.”
“The upward trend of several months seems to be staggering again. The RSI is close to the neutral in 50 and the last setback has found short -term support around the 50 -day mobile average (1,3529). We expect a limited short -term range between the 1,3500 support and the resistance of 1,3580.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
