- The GBP/USD cuts losses as Jolts employment offers in the US fall to 7,437m in June, below the 7.5m forecast.
- Prices in United Kingdom stores increase to faster pace in more than a year, pointing out persistent inflation.
- The BOE cuts rates is expected next week with a probability of 83% in the midst of a weakened British economy.
The GBP/USD records modest losses of more than 0.10% on Tuesday after employment data in the United States (USA) showed cooling signs, according to the Employment and Labor Rotation Offers Survey (Jolts). The Federal Reserve (FED) has begun its two -day monetary policy meeting, which will end on July 30. The par is quoted in 1,3337 after falling to a minimum of 10 weeks of 1,3307.
The cable falls to 1,3337 as employment offers in the US decrease and inflationary pressures in the United Kingdom persist before key decisions of central banks
The June Jolts report showed that vacancies fell from 7,769 million in May to 7,437 million in June, below the estimates of 7.5 million, according to the Office of Labor Statistics (BLS). The reluctance of companies to be hired is due to uncertainty over tariff levels. The data arrive before the two -day meeting of the FED and the report of non -agricultural payrolls for July, which is expected to show that the economy added 102K jobs, below the 147K of June.
Other data showed that consumer confidence improved according to the Board Conference in July. The index rose to 97.2, from 93.0 in the previous month, exceeding the forecasts of 95.0.
On the other side of the Atlantic, prices in British stores increased more in July than in more than a year, indicating that inflation remains more persistent than expected, as the economy begins to weaken. Ahead, the economic agenda in the United Kingdom is light while the operators expect the announcement of the monetary policy of the Bank of England (BOE) next week. The Central Bank is expected to cut rates at 25 basic points, with a probabilities of 83%.
GBP/USD price forecast: technical perspective
From a daily chart perspective, the pair is neutral to slightly inclined down. The GBP/USD broke the minimum of June 23, 1,3369, exposing the 100 -day SMA in 1,3329, which was briefly exceeded, before buyers intervened, pushing up rise prices.
Despite this, the momentum remains bassist since the relative force index (RSI) fell below its neutral line. Therefore, if the GBP/USD closes daily below 1,3350, a new 1,3300 test in the short term is expected. Otherwise, buyers must exceed 1,3400 if they want to recover control and bring prices to the 20 -day SMA in 1,3501.
LIBRA ESTERLINA PRICE THIS WEEK
The lower table shows the percentage of sterling pound (GBP) compared to the main currencies this week. Libra sterling was the strongest currency in front of the euro.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 1.84% | 0.67% | 0.55% | 0.48% | 1.01% | 1.05% | 1.16% | |
| EUR | -1.84% | -1.18% | -1.25% | -1.35% | -0.81% | -0.78% | -0.67% | |
| GBP | -0.67% | 1.18% | -0.26% | -0.17% | 0.37% | 0.40% | 0.51% | |
| JPY | -0.55% | 1.25% | 0.26% | -0.07% | 0.42% | 0.48% | 0.75% | |
| CAD | -0.48% | 1.35% | 0.17% | 0.07% | 0.50% | 0.57% | 0.68% | |
| Aud | -1.01% | 0.81% | -0.37% | -0.42% | -0.50% | 0.03% | 0.13% | |
| NZD | -1.05% | 0.78% | -0.40% | -0.48% | -0.57% | -0.03% | 0.11% | |
| CHF | -1.16% | 0.67% | -0.51% | -0.75% | -0.68% | -0.13% | -0.11% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
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.
