ONLINE FOREX BROKER
2019-11-11 • Updated
Sterling surged to 1.2575 in the course of the past week due to strong economic data out of the UK and lower USD. British manufacturers reported the fastest export growth in more than two years; UK consumer prices increased by 2.35 in March, average hourly earnings have finally edged up. Sluggish wage growth was cited as the major reason the Bank of England refuses to raise its interest rate despite surging inflation figures. The greenback was hit by Donald Trump punishing warlike countries for their military actions and talking down the nation’s currency at the latest press conference.
Next week pay closer attention to the Bank of England Governor Carney’s speech on Wednesday and Britain’s retail sales coming on Friday. From the US, we will get empire manufacturing index on Monday, building permits, housing starts and capacity utilization rate on Tuesday. On Thursday, keep an eye on the US manufacturing data, and don’t forget about the US Treasury Secretary Mnuchin’s speech scheduled for 8:15 pm MT time.
The technical outlook for the pair is bullish. It seems that sterling has time to regain its value before the official start of the EU-UK talks. On the upside, we see some strong resistances at 1.2575 (past-week high) and 1.2625 (200-day MA). A rollback is not ruled out, as the USD will probably try to win back its earlier losses. The immediate supports can be found at 1.2460,1.2415 (50-day MA) and 1.2380 (April 10 low).
Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
China's economy is rocketing. On the other hand OPEC+ countries take the decision to cut the production. What will be the impact on the oil price?
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
