Trade Successfully
This week will bring a raft of key data points out of the UK, including employment, inflation, and retail sales releases. Forecasts point to figures that are likely to confirm the UK economy remains on a solid footing. While a set of decent prints could help trigger a relief bounce
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GBP/USD pares some losses but still holds near 11-month low. GBP/USD had been in a falling mode over the previous three days as it posted a fresh 11-month low of 1.2919. The rally brought the pair below the 20- and 40-simple moving averages (SMA) and near the lower Bollinger Band in
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RBA will announce its interest rate decision during tomorrow’s Asian session (04:30 GMT) and is expected to remain on hold at +1.50%. Currently, AUD OIS imply a probability for the bank to remain on hold of 99.67%. As the interest rate is expected to remain on hold, the market focus
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The US employment report for July will be released today at 12:30 (GMT). The Non-Farm Payrolls figure is expected at 190k while the previous figure was 213k. The unemployment rate is expected at 3.9% while previous reading was 4.0%. The average earnings growth rate is expected to remain unchanged at
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After the highly anticipated Bank of England decision on Thursday, the focus for sterling at the end of the week will turn to the services PMI out of the United Kingdom on Friday at 08:30 GMT. The IHS Markit/CIPS services PMI is expected to highlight the BoE’s dilemma, with activity
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The Bank of England (BoE) is widely anticipated to raise its benchmark interest rate via a 7-2 vote on Thursday, at 1100 GMT. Such a move is practically fully priced in already and thus, price action in sterling will depend largely on the signals the Bank sends regarding the prospect
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GBP/USD rebounds on 10-month low but remains bearish in the medium-term. GBP/USD has eased a bit after its downfall from the 1.4375 resistance barrier, finding support at the 10-month low of 1.2960 on July 19. Since the previous week the price is trading slightly higher, however, it remains below the mid-level of the Bollinger Band (20-SMA)
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It’s going to be a big week for central banks as the Federal Reserve, the Bank of Japan and the Bank of England hold policy meetings in the next seven days. Economic data will also be at the forefront with plenty of major releases, including the US jobs report and
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ECB remains on hold, EUR/USD drops The ECB remained on hold as was widely expected yesterday at 0.00% and the common currency reacted negatively against the USD. As for the political takeaways, ECB’s president Draghi stressed that the phrase “through the summer” means exactly that, zeroing the chances for an earlier
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GBP/USD dives but is still above the 10-month low of 1.2960. GBP/USD has been developing above the 10-month low of 1.2960 that it posted last Thursday, but with weak momentum. Moreover, the price seems to be turning negative again as it holds below the 20- and 40-simple moving averages in the daily timeframe. It is
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