GBP/USD is struggling to overstep 1.2300 as investors await the US Durable Goods Orders. Investors should brace for a vulnerable performance from the US economic data. The BOE may dictate a jumbo rate hike in July considering its inflation rate is above 9%. The GBP/USD pair is juggling in a narrow range of 1.2259-1.2297 in … Read more
GBP/USD gained some positive traction on Friday amid modest USD weakness. Dovish BoE expectations, Brexit woes acted as a headwind for the British pound. Aggressive Fed rate hike bets should help limit the USD losses and cap the upside. The GBP/USD pair built on the previous day’s bounce from the vicinity of the weekly low, … Read more
“Elevated level of UK inflation stems largely from the impact of external shocks, rather than excess money growth,” Bank of England Chief Economist Huw Pill said on Friday, as reported by Reuters. “Threat exists that higher headline inflation leads to second-round effects in prices, wages and costs,” Pill added. “Current challenge for UK monetary policy … Read more
GBP/USD takes offers to justify downbeat UK Retail Sales data for May. UK Retail Sales shrank more-than-expected on YoY but improved on MoM. Conservatives Chairman Oliver Dowden resigns after a humiliating defeat in UK by-elections. USD pullback tests bears but recession woes, BOE-linked disappointment keep bears hopeful. GBP/USD slips 20-pips to refresh intraday low around … Read more
GBP/USD pulls back from intraday high during the first positive day in three. Conservatives lost two Parliamentary seats in the UK by-elections, challenges to PM Johnson mounts. Downbeat UK data and disappointment from BOE keep cable bears hopeful. British Retail Sales for May will be important considering its lion share in GDP. GBP/USD justifies UK’s … Read more
For GBP, all eyes are on the sentiment surrounding the BoE. GBP/USD is stalled within a channel between 1.2160 and 1.2315. Should the bulls commit, then there will be prospects of a large area of imbalance (PI) between 1.2469 and 1.2414. At 1.2220, GBP/USD is down on the day so far by some 0.33%, falling … Read more
GBP/USD witness heavy selling on Wednesday and dropped to a fresh weekly low. Dovish BoE expectations, recession fears, Brexit woesd the British pound. A goodish pickup in the USD demand further exerted downward pressure on the pair. The downside seems cushioned as the focus remains on Fed Chair Powell’s testimony. The GBP/USD pair refreshed its … Read more
The UK CPIs Overview The cost of living in the UK as represented by the Consumer Price Index (CPI) for May month is due early on Wednesday at 06:00 GMT. May’s inflation data will be keenly watched by the GBP/USD traders as a positive side deviation in overall and core inflation figures will bolster the … Read more
GBP/JPY has displayed a momentum loss on higher forecasts for the UK Inflation. The BOJ minutes will disclose the secret behind keeping a neutral stance on the interest rates. The annual inflation rate of 2.9% in Japan is majorly contributed by soaring oil and food prices. The GBP/JPY pair has witnessed a steep fall in … Read more
GBP/USD is riding a positive wave or risk sentiment. The bears will need to see a break of 1.22 the figure whereas bulls have sights on a break of 1.2340. At 1.2270, GBP/USD is trading on the bid between a low of 1.2239 and 1.2324. The price is currently higher by 0.24% and correcting from … Read more