GBP/USD rises to about 1,3450 due to a better market feeling, focus on the feeling of the University of Michigan
The GBP/USD gains ground after registering small losses in the previous session, quoting around 1,3440 during Friday’s Asian hours. The torque can be seen as the US dollar (USD) goes back due to the moderate statements of the Federal Reserve officials (FED).
The president of the Fed of San Francisco, Mary Daly, said that waiting for two rates cuts this year is a “reasonable perspective”, while warning about waiting for too long. Daly added that rates will eventually be set at 3% or more, which is higher than the neutral rate prior to the pandemic. Read more…
GBP/USD stops its impulse while markets evaluate US retail sales and the United Kingdom’s labor data
The GBP/USD moved around the 1,3400 region on Thursday, dealing with a new congestion after a brief respite of the sustained sales pressure. The United Kingdom’s labor data (UK) in general did not meet expectations, and US retail sales were stronger than expected.
The United Kingdom added 25.9K new applicants for unemployment benefits in June, more than expected but still below 33.1k the previous month. The unemployment rate of the United Kingdom also rose, increasing to 4.7% from the previous 4.6%. On the United States side (US), the inflation of the production price index (IPP) was moderated faster than expected, which further reinforces the confidence in the market in which the repercussions of the tariffs will have less impact on the inflation of what the Federal Reserve officials (FED) fear. Read more…
GBP/USD falls to robust US data from US
The GBP/USD falls during the American session on Thursday. The pair retreated 0.07% after the publication of solid economic data from the US, which promoted the US dollar (USD) and took him to a new maximum of July while recovering some land at the beginning of the second half of the month. At the time of writing, the par is quoted in 1,3408.
The latest US employment report, published by the Office of Labor Statistics (BLS), revealed that the number of Americans who requested unemployment benefits decreased, indicating that the economy remains solid. The initial unemployment subsidy applications for the week that ended on July 12 were 221K, below the 235K forecasts. In addition, June retail sales also exceeded estimates of an increase of 0.1% monthly and increased 0.6%. Read more…
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.
