This week traders await earnings of Bank of America and Netflix. In addition, there will be important data releases for GBP/USD. Oil may test yet higher levels. Watch the video to get trade ideas for Forex, stocks, oil, and gold!
GBP/USD: forecast for Dec. 11-15
Last week the British pound managed to touch a 6-month high versus the euro but had worse luck against the US dollar.
There was a bright spot on the Brexit front. Britain and the European Union had struck a deal on Friday that will allow the second phase of talks on the British exit from the EU – the negotiations about trade and transition arrangement. The formal decision will be made at the EU summit, which will take place on Thursday and Friday. This good news, however, didn’t lead to the strengthening of the pound as investors worry that the UK economy is still facing problems.
The Bank of England will meet on Thursday. The central bank is expected to keep interest rates on hold after its rate hike in November. Traders will be looking for any clues over the timing of any future policy tightening in the central bank’s minutes. The latest economic figures from the UK have been mixed: activity in manufacturing sector jumped to more than 4-year high, while service sector growth eased back. The latter is experiencing high inflation. All in all, it’s clear that under the shadow of Brexit, the Bank of England will continue falling behind the Fed. This keeps hurting the pound.
Other events in the UK economic calendar include CPI on Tuesday, labor market figures on Wednesday and retail sales on Thursday.
GBP/USD stayed indecisive below 1.3500. Support is at 1.3260 and 1.3190. If the pair gets above 1.3500, the next obstacle will be at 1.3630.
After the hawkish FOMC Meeting, traders await more triggers for the US dollar…
How will the Federal Reserve, the Bank of England, the Bank of Japan, and the Swiss central bank move the market? Watch the weekly video to find out and get trade ideas for Forex pairs, oil, gold, and S&P 500!…
More reports, the start of a rally in crypto, outlook for gold and forex. This week is full of impactful releases, and we are here to trade on them.
Gold is about to break the most significant support. The US dollar index keeps gaining momentum. However, the situation might change this week, and we might see a tiny correction. Investors might return to risk-on and push the US stock market indices and cryptocurrencies to the upside. These and more trade ideas are in our new weekly video! Do not miss it!
This week is likely to be pivotal for many assets, including gold, USD, and several stocks. However, we need to be focused and react fast to the ever-changing environment to get the most from it.