UK Retail Sales Fall -0.5% MoM in May, Beating Estimates Core retail sales fell 0.7% mom in May. UK retail sales came in at -0.5%m/m in May vs. -0.7% expected and 1.4% before. Core retail sales excluding auto fuel sales were -0.7%m/m vs -1.0% expected and 1.4% prior. In annual terms, UK retail sales fell […]
Tag: GBPUSD
GBP/USD recovers early lost ground and climbs back above 1.2255
GBP/USD found decent support ahead of the weekly low following the release of UK PMIs. The strength of the crosses, derived from the fall of the EUR/GBP, further benefited the GBP. Aggressive expectations from the Fed continued to act as a tailwind for the dollar and could cap the pair. The pair GBP/USD attracted some […]
GBP/USD trims early losses, remains negative near 1.2200
GBP/USD moves lower for the second day in a row amid a rebound in dollar demand. Aggressive Fed expectations and recession fears continued to act as a tailwind for the USD. Mostly upbeat UK PMI data offered sterling support and limited the pair’s losses. The pair GBP/USD has struggled to take advantage of the previous […]
UK: Preliminary services PMI stabilizes at 53.4 points in June, vs. 53.0 expected
UK Manufacturing PMI falls to 53.4 in June, missing estimates. UK services PMI stands at 53.4 in June, a positive surprise GBP/USD briefly bounces back to 1.2200 after preliminary UK PMIs. The Purchasing Managers Index UK Manufacturing PMI, seasonally adjusted, has fallen to 53.4 in Junecompared to 53.7 expected and 54.6 in the final reading […]
GBP/USD: Still seen within 1.2040 to 1.2400 in the short term – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, the GBP/USD should continue to navigate in the range of 1.2040-1.2400 In the next weeks. Featured Comments 24 hour view: “Our expectations for GBP/USD to ‘trade between 1.2225 and 1.2325’ yesterday were wrong as it briefly tumbled to 1.2163 and shot up […]
GBP/USD trims gains and retreats below 1.2300
UK inflation remains at 40-year high and up 9.1% year-on-year. Fed Chairman Powell commented that the central bank is committed to lowering inflation, although he accepted that higher interest rates could cause a recession. GBP/USD Price Forecast: In the short term with a bullish bias. The GBP remains on the defensive and is lower on […]
GBP/USD recovers early losses to weekly low, remains negative ahead of Powell
GBP/USD witnesses strong selling on Wednesday and falls to a new weekly low. Dovish Bank of England expectations, recession fears and Brexit woes weigh on sterling. A nice pickup in dollar demand puts further downward pressure on the pair. The drop appears to be supported, as attention turns to Fed Chairman Jerome Powell’s testimony. The […]
GBP/USD: Range Likely to Hold Short-Term – UOB
GBP/USD is expected to trade in the range of 1.2040-1.2400 in the coming weeks, according to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Key comments 24 hour view: “Yesterday we highlighted that GBP/USD ‘likely to trade sideways within a range of 1.2190/1.2300’. However, GBP/USD subsequently rose as high as 1.2325 before […]
GBP/USD fails to recapture the 12300 level, despite risk appetite and stable US yields.
The US dollar gets mixed results on Tuesday. Stocks rise sharply on Wall Street. GBP/USD maintains a very short-term positive bias, but limited while below 1.2300. The pair GBP/USD rises for the second consecutive day, supported by the decline in the US dollar in general, amid risk appetite. The pair peaked at 1.2323 and then […]
GBP/USD fails to hold above 1.2300 and pulls back
The dollar gains moment before the American session. The pound marks daily lows against the euro. GBP/USD rebound fails to pick up pace. The GBP/USD erased most of the intraday gains and pulled back falling below 1.2260. Earlier the pair had climbed to 1.2325, the highest level in two days. A combination of dollar paring […]
