- The dollar recovers momentum against European currencies, loses against the rest of the G10.
- The pound stable against the euro, at a calm start to the week.
The GBP / USD rose to 1.3439 hours ago, peaking since Wednesday, but then reversed direction and retraced, erasing Monday’s gains.. The pullback found support above 1.3400 and is trading at 1.3415 / 20, virtually unchanged from Friday’s close.
The dollar shows the majority of falls at the beginning of the week, but these are manifested against riskier currencies and those linked to commodities. The context of rise in the equity markets is reducing its strength. Likewise, the decline in the is slight, of 0.05% since the greenback is firm against the euro and the pound.
After an intense week in terms of data and events, the economic calendar appears calmer for the next few days. On Monday the governor of Bank of england, Andrew Bailey will appear before a Treasury committee. The employment report in the United Kingdom and retail sales in the United States. On Monday the US president will speak with his Chinese counterpart.
Another relevant focus these days will be to know if Biden nominates Jerome Powell to continue at the helm of the Federal Reserve or if you present another candidate. In addition, there are several speeches by Fed officials scheduled for this week.
On the technical side, GBP / USD remains under pressure despite the recovery from the bottom at the 1.3350 area established on Friday. The recovery for now looks like a correction. The next strong resistance is at 1.3470. A return below 1.3400 would increase negative pressures.
Technical levels
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