GBP/USD breaks three consecutive weeks of losses, and stands around 1.34%. The US S&P Global PMIs show purchasing managers’ concern about current US economic conditions. The US 2yr-10yr yield curve remains inverted for 14 consecutive days. The GBP/USD retraces 1.2000 level amid weak market mood as equities are swinging lately, due to US S&P Global […]
Tag: GBPUSD
GBP/USD trims intraday losses, trades above 1.1950 ahead of US PMIs.
GBP/USD saw some selling on Friday amid the surge in fresh dollar buying. Recession fears weighed on investor sentiment and benefited the safe-haven dollar. Bets on a 50 basis point Bank of England rate hike offset mixed UK data and continued to provide some support. The pair GBP/USD struggled to take advantage of the overnight […]
UK: Preliminary Services PMI falls to 53.3 in July vs. 53.0 expected
UK Manufacturing PMI falls to 52.2 in July, improves estimates. UK services PMI stands at 53.3 in July, improving forecasts. The UK manufacturing Purchasing Managers’ Index (PMI), seasonally adjusted, fell to 52.2 in Julycompared to the 52.0 expected and the 52.8 of the final reading for June. For its part, the preliminary UK service sector […]
GBP/USD is now seen in a consolidation range, probably between 1.1890 and 1.2055 – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, GBP/USD seems to have entered a consolidation phase, probably between 1.1890 and 1.2055. Featured Comments 24 hour view: “Our expectations of GBP/USD ‘going higher’ were wrong as it fell sharply but briefly to 1.1891 before bouncing back to end the day at […]
UK: Retail sales fall 0.1% MoM in June vs. -0.3% expected
UK Retail Sales came in at -0.1% MoM in June, improving estimates UK core retail sales rose 0.4% mom in June. UK retail sales came in at -0.1%m/m in Junevs. -0.3% expected and -0.8% prior. Core retail sales excluding auto fuel sales came in at 0.4% MoM vs. -0.4% expected and -1.0% prior. In annualized […]
GBP/USD slides from 1.2000 on boost from risk aversion and safety flows
GBP/USD is almost sideways on the day, up 0.02%. A gloomy environment weighs on the British pound due to the ECB rate hike and US President Joe Biden testing positive for Covid-19. GBP/USD Price Analysis: Heading to the Downside as Sellers Head for 1.1800. The GBP/USD remains in positive territory, albeit under downward pressure, as […]
GBP/USD falls near 1.1900 amid modest dollar rally
GBP/USD falls for the second day in a row amid some buying around the dollar. High yields on US bonds and the change in risk sentiment benefit the dollar as a safe haven. Fading expectations of a 100 basis point Fed rate hike in July could cap the dollar and prevent deeper losses in the […]
GBP/USD reclaims 1.2000 as dollar strength fades
US stocks turn positive after the opening bell, dollar weakens. A quiet session so far in the financial markets. GBP/USD fails to break 1.2030/40 and pulls back to 1.1955. The pair GBP/USD hovers around 1.2000, around the same level where it closed on Tuesday. The pound bottomed in European time at 1.1954 and then bounced […]
GBP/USD pulls back towards 1.2000 after UK CPI, decline looks supported
GBP/USD continues its struggle to break above the 1.2040-1.2045 resistance zone. Strong UK consumer inflation figures did not impress sterling bulls or provide any lift. The selling trend around the dollar benefits the pair and helps limit the decline. The pair GBP/USD moves higher for the fourth day in a row and is approaching the […]
Breaking News!: UK Inflation Accelerates to 9.4% YoY in June vs. 9.3% Expected
UK CPI rises 9.4% yoy in June, vs. 9.3% expected. UK monthly CPI rises 0.8% in June vs. 0.7% expected. The UK Consumer Price Index (CPI) stood at 9.4% yoy in June, down from 9.1% in Mayand above estimates of 9.3%, the UK Office for National Statistics (ONS) reported on Wednesday. On the other hand, […]
