GBP/USD

Feb 24, 2019
84
10
19
35
Maryland, New York, USA
GBP/USD British pound slide continues as cable drops out cold

GBP/USD has posted losses for third straight hours of the day. In Wednesdays North American session, the pair is trading at 1.2999, after that to 0.57% upon the daylight. On the forgive stomach, there is no major behavior in the U.K. or the U.S. On Thursday, the U.S. releases producer price index reports and unemployment claims.

The Bank of England has sent out a declaration of a bias towards tightening rates, but is anybody listening? Last week BoE Governor Mark Carney that current markets expectations of sophisticated rate hikes were too modest. This hawkish stance was futile to catch the attention of investors and the pound didn't jump at the BoEs command. Instead, GDP/USD has declined 1.25% for that excuse far and wide afield this week and is psychiatry the figurative 1.30 level. The BoE has raised its forecast for U.K enhancement to 1.5%, up from the previous forecast of 1.2% and inflation is hovering close to the BoEs aspire of 2.0%. With these healthy numbers, investors are not expecting rate hikes anytime soon, especially when the lingering uncertainty on the summit of Brexit.

With Brexit outstretched until October, the focus is now upon Theresa May will she survive as Prime Minister? There are growing calls upon May to set a resignation date, and that halt-date could be hastened if she reaches a heated-party merger behind the Labor party. There has been speculation that May is looking to enter an adding customs concurrence considering Brussels, maddening many of her Tory colleagues, who see such a concord has to block the U.K. from pursuing an independent trade policy. Brexit talks in the company of London and Brussels are set to resume, but the track photograph album indicates that the parties will have a tough grow primordial closing the gaps in their positions.
 
Feb 24, 2019
84
10
19
35
Maryland, New York, USA
GBP/USD Pound drops to 2-week low as trade tensions weigh on risk appetite

GBP/USD has resumed its losing ways in the report to Monday, after falling 1.3% last week. In the North American session, the pair is trading at 1.2960, besides 0.30% upon the hours of the day. On the forgive stomach, there are no data indicators in the U.K. or the U.S. On Tuesday, the U.K. releases wage stockpile and unemployment claims.

The pound is below pressure, as aquiver investors are snapping in the works the fasten-dock greenback due to rising trade tensions amid the U.S. and China. On Friday, the U.S. raised tariffs upon $200 billion in Chinese goods, from 10% to 25%. The impinge on was announced a week ago, triggering brilliant declines in the equity markets. The Chinese right of access was responsive, subsequent to Bejing announcing earlier upon Monday that it would slap tariffs upon $60 billion of U.S products.

Despite the tit-for-tat tariffs along surrounded by the U.S. and China, talks surrounded by the sides continue, behind officials scheduled to money the adjacent round of talks in Beijing. The additional tariffs complete not apply to Chinese goods that left harbor prior to May 10, affording a 2-week window for negotiators in the to the lead the tariffs resign yourself to effect. The escalation in tensions has shelved a meeting furthermore President Trump and Chinese President Xi, but the two leaders could meet at the G-20 pinnacle in Japan in June.

British data was a poisoned sack upon Friday, leaving the pound unchanged. The monthly GDP forgive declined in March by 0.1%, above the estimate of 0.0%. There was enlarged news from the quarterly indicator. Preliminary GDP for Q1 came in at 0.5%, matching the predict. This was taking place from conclusive GDP in Q4, which climbed 0.2%. Manufacturing Production remained steady at 0.9% in March, crushing the estimate of 0.1%.
 

JonsonRick

Trader
Aug 2, 2021
4
0
6
31
GBP/USD looks south towards 1.3800 amid renewed Brexit woes, USD strength
  1. GBP/USD under pressure amid USD strength, Brexit concerns.
  2. UK political woes and covid concerns also weigh on the cable.
  3. Data-light calendar keeps DXY price action in focus.
The selling pressure around GBP/USD remains unabated, as the bears seek a test of the 1.3800 level amid resurfacing Brexit concerns and persistent US dollar’s strength.

The greenback continues to draw bids alongside the Treasury yields amid expectations of an earlier tapering by the Fed, in light of Friday’s stronger than expected US Nonfarm Payrolls (NFP) data.

The US economy seems to be closing in on the Fed’s ‘substantial progress’ benchmark, calling for monetary policy normalization sooner than previously thought. Adding to the hawkish bets, Fed officials Rosengren and Bostic also back early taper.

On the other side of the Atlantic, Brexit concerns have returned to the table amid the migrant crisis. The former Brexit Party leader Nigel Farage slammed France and the EU for failing to “lift a finger” to prevent the dangerous cross-channel migrant crisis.

Meanwhile, the UK political worries over PM Boris Johnson looking to demote Finance Minister Rishi Sunak also adds to the weight on the pound.

Looking forward, the US dollar price action and Brexit updates will continue to influence the pair amid a data-light calendar. Focus this week remains on the UK Preliminary Q2 GDP and US CPI data.