wrapper

Sterling little changed in a quite Monday trade

Monday, Jan 12 2015
Despite small rebound on Friday which was supported by better than expected Manufacturing Production and Trade Balance figures Sterling remains under pressure as recent PMI data showed weaker than forecasted figures, while if it is to believe to analysts we can expect slowdown in GDP growth in fourth quarter, overall.
 
With all this being the case it is not likely that BoE will raise its interest rates soon, with recent speculations moving possible rate hike data as far as 2016. Falling inflation remains a worrying factor, that is putting of rate hike decision to much later than it was initially forecasted.
 
On the other hand Fed is currently quite close to its rate hike decision since labour market figures are showing constant improvements and stability, with latest NFP report showing increase of 245,000.
 
Sterling was little changed on Monday. After it initially went up, it pulled back and is currently being traded slightly below 1.5150 level. We can expect a steadier rest of the session since there will be no major data releases from the USA. Pair is likely to find resistance above 1.5180 level and support around 1.51handle.
 
More in this category: « Euro lower in an uneventful Monday's session China's trade balance showed surplus of $49.61 billion »

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.