British inflation unexpectedly rose to 10.4% in February, pushed up by higher food prices and pricier drinks in pubs and restaurants, official data showed on Wednesday, a day before the Bank of England announces its latest interest rate decision. Economists polled by Reuters had forecast that the annual CPI rate …
Read More »
The GBP/USD pair is testing the 100-day Exponential Moving Average at 1.2033. Traders are focusing on UK economic growth reading as well as Fed Chair Powell’s speech before the Congress, and US NFP figures. With the new trading week, the pair is trimming some of last Friday’s gains despite the …
Read More »
Following the US ISM Manufacturing PMI, the GBP/USD pair moved into negative territory. Despite the market’s optimism on the favourable economic data from China, the pair is seen falling. Moreover, a BoE official expressed more hawkish views than anticipated, which helped boost the GBP/USD. At the time of writing, the …
Read More »
The GBP/USD pair rallied from a 50% mean reversion of Friday’s bullish run and broke to 1.2150 on Tuesday, breaking a key resistance around 1.2050 which has invalidated the prior downside bias.The pound sterling achieved strong gains during the US session, Tuesday, and was the most major currency gainer, by …
Read More »
The US dollar achieved strong gains in the last trading week, driven by a series of strong US economic data, with the markets increasing expectations that the US Federal Reserve will continue its tightening approach. In terms of weekly trading, the US dollar recorded a strong rise in today’s trading, …
Read More »
GBP/USD under pressure by expected Fed’s aggressivenessThe GBP/USD is attempting to recover after diving to fresh February lows around 1.1914 in the mid-US session, boosted by the weaker US dollar. The pair is trading below the important 200-day Exponential Moving Average (EMA) at 1.2132, keeping the downtrend intact. At the …
Read More »
On Monday, with the beginning of the new trading week, the GBP/USD pair edges higher after posting the biggest daily jump in a month. Optimism surrounding an end to the UK’s labour strike is leaving a positive fingerprint on the Sterling in addition to the US dollar’s pullback which contributes …
Read More »
The US Dollar is expected to finish this trading week with solid gains due to Fed’s hawkish comments as well as the latest US data.US Consumer Sentiment improved according to the University of Michigan. The UK avoided a recession in Q4 2022, though its forward economic outlook suggests a weaker …
Read More »
Catherine Mann, member of the Bank Of England’s Monetary Policy Committee, backed additional increases of the British central bank’s interest rates. On Monday, Mann warned that the otherwise, namely pausing, as called for by some of her colleagues could involve risk of creating a confusing policy jargon if it turned …
Read More »
Major US stock indexes closed lower on Friday after surprisingly strong jobs data raised concerns about the Federal Reserve’s aggressive rate hikes, while investors received a mixed batch of earnings reports from major companies.The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls …
Read More »
Noor Trends News, Technical Analysis, Educational Tools and Recommendations
