- The Bank of England (BOE) decided to deliver its #inflation medicine in a bigger dose at their recent monetary policy committee meeting. The bank made the shock decision to raise borrowing costs a half percentage point, taking the official rate to 5% ; double the size of the increase anticipated by most economists. BoE hiking interest rates to 5% , it adds...
The British pound is slightly lower on Friday. GBP/USD is trading at 1.2636 early in the North American session, down 0.17% on the day. UK retail sales jumped 2.9% m/m in May, an impressive turnaround from the revised 1.8% decline in April and blowing past the market estimate of 1.8%. This was the highest level since January. Yearly, retail sales climbed 1.3%,...
The British pound is lower on Thursday. GBP/USD is trading at 1.2683 in the North American session at the time of writing, down 0.29% on the day. The Bank of England held rates at today’s meeting, as expected. There are no releases out of the US today. There were no surprises as the Bank of England maintained interest rates at today’s meeting. The BoE kept the...
I would expect a temporary bullish after the news from BOE interest rate. Based on my sole opinions, there might be no changes from the forecast of 5.25% due to UK inflation rate is under control. Based on price action, I have created a new dealing range from Tuesday 18 June - Low to yesterday High. For the Pound to be bullish , I want to see that price draw...
In the UK, inflation data expected tomorrow is projected to fall to 2% in May, down from 2.3% in April. This would mark the first time since April 2021 that inflation has hit the Bank of England’s 2% target. However, a positive inflation report is unlikely to result in a rate cut at Thursday’s meeting, especially with an election on July 4th. Markets are pricing...
The European Central Bank (ECB) initiated its cutting cycle last week on June 6. Expectations are that ECB policymakers are in no hurry to follow this first cut with a second one. Next week, we will see how much of a hurry the Bank of England (BOE) is to follow the ECB. A Reuters poll of 65 economists indicates the BOE is likely to wait until August to cut...
The British pound has lost ground on Thursday. GBP/USD is trading at 1.2760 in the North American session at the time of writing, down 0.29% on the day. The UK economy showed no growth in April, which was in line with expectations but below the March reading of 0.4% m/m. This was the weakest reading in four months, as manufacturing and construction declined,...
The British pound is drifting on Tuesday. GBP/USD is trading at 1.2720 in the European session at the time of writing, down 0.08% on the day. The UK released the May employment report earlier today. Next up is GDP on Wednesday, with a market estimate of 0% m/m for April, following a 0.4% gain in March. Today’s UK employment report indicated that the labor market...
Key factors for EUR/GBP trade next week With a European Central Bank (ECB) decision due next week, a trade in the GBP/EUR could be of interest. Presently, the EUR/GBP is trading at the lowest rate since August of 2022. The divergence in monetary policy between the ECB and the Bank of England (BOE) is what could be driving this weakness in the EUR. E ECB...
The British pound edged higher earlier today but has pared most of those gains. GBP/USD is trading at 1.2703, up 0.06% early in the North American session. UK inflation fell sharply in April, falling to 2.3% y/y. This was down from 3.2% in March and the lowest rate since July 2021 but higher than the market estimate of 2.1%. On a monthly basis, inflation dropped...
The British pound is slightly higher on Monday. GBP/USD is up 0.20%, trading at 1.2549 in the European session at the time of writing. The UK labor market has held up well despite high interest rates but cracks have appeared and Tuesday’s job report is expected to be soft. Employment change is expected to slide by 215,000 in the three months to March, after...
The British pound is showing limited movement on Thursday. GBP/USD is up 0.15%, trading at 1.2515 in the North American session at the time of writing. The Bank of England kept the cash rate unchanged at 5.25% for a sixth straight time in a widely expected move. The British pound dropped slightly after the announcement but then recovered. The breakdown of the...
Detected 19-Apr (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 19-Apr. ASX:BOE represents a potential bearish opportunity should momentum continue and newer lows be made. Suggested to await clearance of support level before entry into trade. Entry conditions: (i) lower share price along with...
Here I have EUR/GBP on the 4 Hr Chart! Ever since its visit at the Support Zone @ ( .8534 - .8528 ), Price has been steadily making Higher Highs and Higher Lows with the most significant High in the Price Action being Friday's High reaching the Resistance Zone @ ( .8586 - .8581 ) on the release of LOWER than expected NFP numbers for USD ( 175K Actual - 238K...
Coming up: BOE's rate decision week Morgan Stanley has asserted that the Bank of England might still opt for an interest rate cut in the coming week, a stance that stands out amidst dwindling market confidence in such a move. Morgan Stanley’s opinion diverges notably from the consensus, which suggests an initial rate cut by the BOE in September. Backing Morgan...
The British pound is having a quiet week and that trend has continued on Thursday . In the North American session, GBP/USD is trading at 1.2450, down 0.04%. The UK release retail sales for March on Friday. The market forecast for March is 0.7% y/y after a decline of 0.4% y/y in February. Today’s British Retail Consortium retail sales index jumped 3.5% y/y in...
The British pound is steady on Tuesday after starting the week with losses. In the European session, GBP/USD is trading at 1.2563, up 0.09%. On Monday, the pound fell 0.57% and dropped as low as 1.2539, its lowest level since February 14. Inflation in UK stores fell to 1.3% y/y in March, according the British Retail Consortium (BRC). This was below the 2.5% rise...
Reason: market structure is bearish break of structure fair value gap