- Wednesday, 20 January 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 21 January
Focus of yesterday's session was on UK job data. For December 2015 there were 785,900 people claiming unemployment related benefits. This was: 4,300 fewer than for November 2015 and 95,400 fewer than for a year earlier but, the lowest since March 2008. Increase by 4,100 was expected. The unemployment rate for those aged 16 and over for September to November 2015 was 5.1%. This was: down from 5.4% for June to August 2015 and down from 5.8% for a year earlier but slightly lower than the pre-downturn trough of 5.2% for late 2007 to early 2008. Also, unemployment rate fell to 5.1% in November down from October's 5.2%. Read more...
- Wednesday, 20 January 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 21 January
Sterling was initially pushed higher during the yesterday's session, after better than forecasted job figures, but found area around 1.4220 level to be too resistive at the moment and pulled back by the end of the session, giving up all the gains, which is of course a negative sign. As for tomorrow, pair is likely to find support around 1.41 area and 1.4050 handle in extension, while we can expect resistance above 1.4220 and 1.4250 level. Read more...
- Tuesday, 19 January 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 20 January
Tuesday's session brought UK CPI and PPI figures. The Consumer Prices Index (CPI) rose by 0.2% in the year to December 2015, compared with a 0.1% rise in the year to November 2015. Analysts were anticipating 0.1% increase. Although this is the first month since January 2015 for which the rate has exceeded 0.1%, this continues the trend since early 2015 of the rate being very close to zero. Movements in transport costs, particularly air fares and to a lesser extent motor fuels, were the main contributors to the rise in the rate. Downward pressures from prices for alcohol and tobacco along with food and non-alcoholic beverages partially offset the rise.
Read more...- Tuesday, 19 January 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 20 January
Sterling was initially pushed higher in the course of yesterday's session, after CPI and PPI figures, but after dovish BoE Governor Carney's comments regarding rate hike, pair broke lower all the way to 1.4120 area. As for tomorrow, we would be focused on UK job figures. Weaker than expected figures would push pair all the way to 1.41 handle, while better than forecasted data would bring rebound but with resistance around 1.4250 and 1.4280 level in extension.
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