- The lira among the best performing currencies on Thursday.
- GBP / USD breaks major resistance at 1.3370 and gains momentum.
- US data: personal income and spending, unemployment benefits and durable goods orders, among others.
GBP / USD continues the weekly rally and looks stronger after breaking the 1.3370 area. The pair climbed to 1.3423, reaching the highest level since November 22. It remains above 1.3400, in another day of limited tours, before US economic data.
A lot of data ahead of the US.
The pound is favored in part by some optimism in the markets despite the advance of the Omicron variant. European markets are up 0.32% on average, and Wall Street futures are showing a 0.15% rise. This is in addition to the gains posted on Wednesday.
The Market volume continues to decline ahead of holidays and year-end holidays. In any case, the economic calendar is loaded with US data on Thursday, the strong time being 13:30 GMT when it will be published, among others, the personal income and expenditure report, the durable goods claims report, and the unemployment benefit report.
The GBP / USD arrives at that data strengthened and testing the 1.3420 resistance zone, which above will leave the way to the next one at 1.3445. The bullish tone is expected to remain strong as long as it remains above 1.3370.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.