The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
GBP/USD is shy amid UK May’s speech and North Korea news
On Friday, having grown to 1.3590, the currency pair GBP/USD pair faced a phase of consolidation because financial markets waited for the UK PM Theresa May’s speech for further direction.
The pair GBP/USD definitely stuck below the level of 1.3600.
The spot is still on the defensive. It’s because market participants simply shift to safety amid resuming North Korean geopolitical tensions.
Furthermore, the bulls would like to stay in a wait and watch mode ahead of the UK PM May’s decisive speech due to be delivered in Florence a bit later today.
Financial markets want some clarity on the Brexit strategy because the United Kingdom and the EU are still in a deadlock as for the Brexit divorce bill.
May’s statement will probably drive market sentiment behind the GBP. Apparently, any dismal statements could potentially push Cable back towards 1.3450 levels. If financial markets look for some clarity on May’s Brexit strategy, the spot could overleap 1.3650.
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