- Monday, 08 February 2016
- News
Pound likely to be choppy on Brexit uncertainty
- Friday, 05 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 08 February
There were no data releases from the UK on Friday, with markets still being influenced by BoE stanzas as well as commodity prices.The dollar had come under pressure after New York Federal Reserve President William Dudley said on Wednesday that the weakening outlook for the global economy and any further strengthening of the dollar could have "significant consequences" for the health of the U.S. economy. The fall in oil prices has been a "net good" for the economy, Bank of England deputy governor Ben Broadbent has said. He told BBC Radio 5live's Wake Up To Money that falling oil prices had helped to push up wages in real terms. Speaking about the longer-term decline in prices, Mr Broadbent said: "I think it's a net good." Read more...
- Friday, 05 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 08 February
Sterling was pushed lower in the course of the session on Friday, mostly due to better than forecasted US job figures but also with markets still being influenced by dovish BoE's stanzas. Monday should bring a steadier session as there will be no major data releases. Pair is likely to find support around 1.44 handle, as this was major resistive point in the past and resistance above 1.45 and 1.4550 handle in extension so this is where we would consider placing short-term selling bids. Read more...
- Friday, 05 February 2016
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast – 08 February – 12 February
Events that marked the week:
From the UK, on Monday, Manufacturing PMI data was published. The start of 2016 saw a modest improvement in the rate of growth in the UK manufacturing sector. This was highlighted by the seasonally adjusted Markit/CIPS Purchasing Manager’s Index rising to a three-month high of 52.9, up slightly from 52.1 in December. No change was expected. The PMI has remained above the neutral 50.0 mark for 34 successive months. The UK manufacturing sector registered an uptick in its rate of expansion at the start of 2016, shrugging off a number of potential headwinds, ranging from global financial market volatility to localised flooding in the North of the country.
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