$GBPUSD Forex Signal: Optimism as Bulls Attempt to Clear 1.3600
Wednesday was an important day for the GBP/USD pair. In the morning session, the UK Office of National Statistics showed that the country’s inflation held steady in January. The headline figure rose from 5.4% in December to 5.5% in January as food and energy prices rose. Excluding the two, inflation rose by 4.4%, which is higher than the Bank of England target of 2.0%.
On Tuesday, the ONS published the latest employment numbers. The data showed that the country’s unemployment rate is approaching where it was before the pandemic started, Further, wages have kept growing as employers compete for talent. Therefore, these numbers are confirming that the BOE will continue tightening this year.
The GBP/USD also reacted to the strong American retail sales data. The data revealed that sales rose by 3.8% in January, the highest figure in 10 months. It was also higher than the median estimate of 2%. These numbers showed that Americans are willing to spend even as inflation keeps rising. The pair also rose after the Federal Reserve published its minutes of the past meeting. These minutes provided more information about what the bank’s officials were thinking. Most members seemed supportive of more tightening in a bid to slow inflation.
Later today, the key catalyst for the pair will be the latest housing starts, building permits, initial jobless claims, and the Philadelphia manufacturing index. The data is expected to show that the housing sector did well while initial jobless claims declined.The GBP/USD pair is trading at 1.3590, which is slightly above the key support level at 1.3488, which was the lowest level this week. It has moved slightly above the 25-day moving average. It is also approaching the 23.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
GBP/USD Forex Signal: Extremely Bearish Below 1.3495The GBP/USD pair wavered in the evening session as investors reacted to the good news from Russia and as traders waited for the upcoming UK inflation data.
Leer más »
BTC/USD Forex Signal: Rebound to 45,820 Can\u2019t be Ruled Out$BTCUSD Forex Signal: Rebound to 45,820 Can’t be Ruled Out
Leer más »
EUR/USD Forex Signal: Rising to Test $1.1368The pivotal point today is likely at the nearby resistance level.
Leer más »
Son of American slave reflects on father's lessons: 'He gave me the signal to be strong and to survive'Daniel Smith spoke with CBS News about his incredible story, which reflects the arc of race relations in America — from slavery to civil rights activism, and the fight to end systemic discrimination.
Leer más »
GBP/USD to target 1.3600 in case market mood continues to improveGBP/USD has reversed its direction after falling all the way down to 1.3500 and recovered above 1.3550. Resolution of the Russia-Ukraine conflict coul
Leer más »
GBP/USD Forex Signal: Extremely Bearish Below 1.3495The GBP/USD pair wavered in the evening session as investors reacted to the good news from Russia and as traders waited for the upcoming UK inflation data.
Leer más »