The Goldman Sachs economists, in their latest note, maintain the opinion of a 50 basis point rate hike by the Bank of England (BoE) in its September monetary policy decisionwhile revising upwards their forecasts for a rise of 50 basis points in the coming months. Featured Statements “In the run-up to the September meeting, the […]
Tag: BOE
GBP/USD hovers around 1.1800 after mixed US data, awaiting Powell’s speech
GBP/USD fluctuates throughout the day, with traders waiting for Powell’s comment on the matter. US growth in the second quarter improved but remains below the 0% threshold; a recession is looming in the US Money market futures expect the Bank of England to raise rates by 250 basis points by May 2023. The GBP/USD rose […]
EUR/GBP remains below 0.8450 after Eurozone and UK PMIs
EUR/GBP defends the vital 200-day moving average. The gloomy economic outlook for the UK undermines the British pound and offers some support to the cross. Concern about the energy crisis in Europe weighs on the common currency and limits increases. The EUR/GBP cross defends the all-important 200-day Simple Moving Average (SMA) support and for now […]
GBP/USD hits one-month lows below 1.1800 on firmer dollar
GBP/USD continues to lose ground for the fourth day in a row and falls to a new monthly low. Fed expectations and risk aversion state support dollar. The pound continues to be affected by the UK economic outlook. The GBP/USD is falling for the fourth day in a row on Monday. It reached lows in […]
GBP/USD falls below 1.1850, to lows since mid-July
GBP/USD falls for the third day and hits the lowest in a month and a half. Fed expectations and recession fears underpin the dollar and put downward pressure. DXY is trading at 1-month highs after breaking above 108.00. GBP/USD extends bear run and trades at July 15 lows below 1.1850 on Friday. The context of […]
GBP/USD bounces weakly from monthly low and shows some resistance below 1.2000
GBP/USD quickly reverses an intraday drop to levels below 1.2000, or a new monthly low. Expectations of a gradual BoE rate hike and recession fears are acting as a headwind for sterling. The dollar remains near the monthly maximum and helps to further limit the pair. The GBP/USD pair staged a nice rebound from the […]
GBP/USD will trade below 1.20 until the end of the year – Scotiabank
In the UK, the cost of living crisis and sluggish growth may hamper the Bank of England’s ability to deal with soaring inflation and meet market expectations for tighter policy. In the opinion of economists scotiabankthis will weigh on the pound in general. Negative outlook in the face of rising inflation “Pound outlook is negative […]
GBP/USD surges towards 1.2080 after mixed US data
GBP/USD is moving steadily towards the confluence/20-50 DMA around 1.2110. US industrial production surprises to the upside, while housing data continues to deteriorate. Employment figures in the UK were better than expected, reinforcing the case for a 50 basis point Bank of England rate hike. The GBP/USD It breaks three days of losses and approaches […]
GBP/USD flirts with daily lows, just above 1.2100 amid a strengthening dollar
GBP/USD witnessed heavy selling on Friday amid a strong rally in USD demand. Uncertainty over the magnitude of the Fed rate hike prompted some short-covering of the dollar. The gloomy economic outlook from the Bank of England undermines the GBP and contributes to the decline. The pair GBP/USD comes under renewed selling pressure on Friday […]
EUR/GBP soars to a fresh 2.5-week high and targets the 0.8500 level
EUR/GBP gains traction for the second day in a row and rises to a two-week high on Friday. The BoE’s dovish outlook offsets UK data, which was mostly better than expected, and weakens sterling. More upbeat Eurozone industrial production figures have buoyed EUR/GBP in the last hour. Concerns over the energy crisis in Europe could […]