The last few sessions have seen data showing the UK in recession, and some more hopeful signs that it might already be coming out. There’s less to look forward to this week, but that might not be bad news for Sterling.
Bank of England Governor Andrew Bailey suggested as much in his testimony before Parliament on February 20, and the most recent of the closely-watched purchasing Managers Index series found private-sector optimism at a two-year high.
The core inflation rate here was an annualized 2.9% last time. The market is looking for gradual reductions which would, presumably, keep the prospect of lower US rates very much alive. On the assumption that this week’s US figures won’t hit this theory too hard, it’s a bullish call for the Pound this week.GBP/USD has been confined to a broad trading range since November, bounded to the downside by retracement support at 1.24593 and the top by December 28’s peak of 1.28629.
Second retracement support doesn’t come in until 1.20857. That looks safe enough even if the current range breaks down, but the uncommitted may want to wait and see if that downtrend does break.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
British Pound Weekly Forecast: Busier Data Week Might Be BruisingSterling remains relatively elevated despite recent US Dollar strength. This week may make life a bit tougher for Sterling bulls
Weiterlesen »
GBP/USD Weekly Forecast: Pound Sterling set to maintain its bearish potentialThe Pound Sterling (GBP) extended its losing streak against the US Dollar (USD) into a fourth straight week, keeping GBP/USD undermined near two-month troughs.
Weiterlesen »
GBP/USD Weekly Forecast: Pound Sterling could stage a comeback but will it last?The Pound Sterling (GBP) continued to remain in the back seat against the US Dollar (USD), as GBP/USD extended its bearish momentum into the fifth week in a row.
Weiterlesen »
Hamas Offers 135-Day Ceasefire Proposal With Israeli Pullout From GazaSee multiple perspectives from Reuters, Fox News (Online News), and CNN (Online News) at AllSides.com.
Weiterlesen »
News 5 User Guide: How to use News 5 to get your Northeast Ohio news anywhereIf you love the Cleveland area as much as we do, then you want all the latest local news and weather. Here's how to follow News 5 while at home or afar.
Weiterlesen »
'None of These Candidates' Beats Haley in Nevada Primary Without TrumpSee multiple perspectives from The Hill, Associated Press, and Fox News (Online News) at AllSides.com.
Weiterlesen »