On Monday, the GBP/USD pair didn’t manage to sustain the revival above 1.29 handle, and took a steep U-turn over the previous hour, as the bears were about to test the 1.2850 support.
The currency pair GBP/USD slumped below daily pivot, showing 1.2887
The latest series of dismal British fundamentals also keeps market sentiment around the British pound undermined because traders fear that the negative macro news could keep the Bank of England away from maintaining its latest hawkish stance.
Further, renewed weakness in crude prices along with fresh USD buying across the board, contributes to the latest leg lower in the spot. The greenback is still broadly underpinned because the bulls keep riding higher on positive American payrolls data published last Friday.
Traders are currently focused on the American labor market conditions index for new trading impetus because the British docket is still data-dry today.
On Monday, the evergreen buck slumped versus a currency basket, having reported its greatest weekly revenue for a month the previous week because market participants shifted their attention to American retail sales outcomes for June later in the trading…
On Friday, the evergreen buck rallied to a 10-day maximum after American consumer prices data disclosed a build-up of inflation pressure, which would enable the Federal Reserve to have rates lifted up to four times in 2018…
On Thursday, the US currency was generally intact versus its counterparts…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
