wrapper

Sterling continues its downtrend

Wednesday, Sep 23 2015
There were no major data releases from the UK today,with traders still influenced by budget deficit figures. Predictions for a slowdown in the third-quarter GDP in the U.K. are also weighing on prices. Slower factory output, combined with volatile exports and weaker retail sales over the summer period are pointing towards a slowdown in the third-quarter GDP. 
 
Given the latest run of weak fundamental data, the Bank of England may have no choice but to revise down its outlook for growth in the second half of the year. This will likely postpone any interest rate hike until mid-2016.
 
Sterling is currently being traded around 1.5250 area. Pair is likely to find support around 1.52 handle and resistance above 1.53 level. There will be no major data releases in the rest of the session.
More in this category: « Euro stable after mixed PMI figures ECB's Draghi says too early to decide on further stimulus »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.