GBP slips ahead of UK jobs and wage data Tuesday – Scotiabank
Source Fxstreet
The softer pound reflects the general shift in favour of the USD since Friday’s US data reports, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Broader trend dynamics remain positive for the GBP
“There were no UK data releases today and markets are focused on Tuesday’s wage and employment data. Soft wage growth may nudge sterling a little lower still.”
“Weak price action and a negative daily price signal from Friday also suggests near-term downside risks for the GBP.”
“Broader underlying trend dynamics remain positive for the GBP as well, however, suggesting that downside potential for Cable is limited, at least for now. Support is 1.3035. Resistance is 1.3135/40 intraday.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
According to a CNBC report on Tuesday, Elon Musk has discussed merging SpaceX with Tesla ( TSLA ). The world was stunned by this sudden bombshell. However, in the face of this unprecedent
Gold declines to near $4,500 as renewed US‑Iran tensions, Fed tightening bets weighGold price (XAU/USD) loses ground to around $4,500 during the early Asian session on Wednesday. The precious metal extends the decline as fresh US military strikes on Iran dimmed hopes of a peace deal and reinforced concerns that persistent inflation could keep interest rates higher for longer.
Gold price (XAU/USD) loses ground to around $4,500 during the early Asian session on Wednesday. The precious metal extends the decline as fresh US military strikes on Iran dimmed hopes of a peace deal and reinforced concerns that persistent inflation could keep interest rates higher for longer.
During the Asian session on May 26, gold prices ( XAUUSD) weakened under pressure after briefly touching the $4,580 resistance level, maintaining a weak trend intraday and potentially ent
Gold price (XAU/USD) gains ground to near $4,575 during the early Asian session on Tuesday. The precious metal edges higher as hopes for US-Iran peace negotiations weakened the US Dollar (USD).
Here is what you need to know on Monday, May 25:
Related Instrument
