- Tuesday, 09 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 10 February
From the UK, yesterday, Trade Balance figures were released. The UK’s deficit on trade in goods and services was estimated to have been £2.7 billion in December 2015, a narrowing of £1.3 billion from November 2015. The narrowing is attributed to trade in goods where the deficit has narrowed from £11.5 billion in November 2015, to £9.9 billion in December 2015. Analysts were predicting deficit of £10.4 billion. Between November 2015 and December 2015, the trade in goods narrowing was mainly the result of a fall in the import of goods of £1.7 billion to £33.0 billion; mainly reflecting a fall in imports of unspecified goods, which decreased by £1.0 billion to £0.4 billion.
Read more...- Tuesday, 09 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 10 February
Sterling went back and forth in the course of the yesterday's session, finding support around 1.4380 level and rebounding in the US part of the session all the way to above 1.45 handle, where pair found some amount of resistance. As for tomorrow, focus will be on UK Industrial Production figures and Janet Yellen's testimony. Pair is likely to find support around 1.44 handle, and 1.4350 handle in extension, as this was major resistive point in the past and resistance above 1.46 handle so this is where we would consider placing short-term selling bids. Read more...
- Tuesday, 09 February 2016
- News
UK Trade Balance deficit narrowed to £9.9 billion
The UK’s deficit on trade in goods and services was estimated to have been £2.7 billion in December 2015, a narrowing of £1.3 billion from November 2015. The narrowing is attributed to trade in goods where the deficit has narrowed from £11.5 billion in November 2015, to £9.9 billion in December 2015. Analysts were predicting deficit of £10.4 billion.
Read more...- Monday, 08 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 09 February
There were no data releases from the UK yesterday. Sterling traded below a recent one-month high against the dollar on Monday, as uncertainty about Britain's place in the European Union and diminishing rate hike prospects kept investors cautious. "There are still concerns about slowing economic momentum in the United Kingdom, while ongoing uncertainty over whether there will be a Brexit referendum to vote on UK membership of the EU should continue to haunt investors." Read more...
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