CHF: losing value
USD/CHF and EUR/CHF rose to tactical highs. What's next?
British pound reaches day’s peaks
On Wednesday, the British pound gained to the day’s peaks after survey data, which revealed that surge in the dominant British service sector picked up to a three month peak in March.
The currency pair GBP/USD inched up 0.27%, hitting 1.2473.
Financial data company Markit informed that the previous month its services purchasing managers' index inched up to 55.0, which is the highest value since February’s 53.3.
Financial experts had hoped for a reading of 53.5.
The report disclosed that businesses increased prices at the fastest pace for 8.5 years, thus indicating that inflation might go up above the 3% rate forecast by many experts this year.
Aside from that, the report also stressed that the rate of job creation in the sector leapt at the slowest pace for seven months.
The British pound managed to grow against the common currency, reacting to the data, with EUR/GBP slumping 0.27% at 0.8554 from about 0.8583 earlier.
Similar
Volatility for the EUR is coming
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
AUD is hopeful about the job data
Australia will publish the employment change and unemployment rate on February 18, at 02:30 MT time.
Latest news
NVIDIA beat earnings forecasts!
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC may increase oil supply at meeting on March 4
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
Risk on is back on market
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
Deposit with your local payment systems
