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
As of the Asian session on July 14, gold ( XAUUSD) prices consolidated around the $4,000 mark, briefly slipping below $4,000 intraday to hit a low of $3,983.23. Looking at the market acti
WTI spikes amid escalating Middle East TensionsWest Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $79.60 per barrel during the Asian hours on Tuesday. Crude oil prices rise due to mounting supply anxieties following a sharp escalation of geopolitical hostilities in the Middle East.
West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $79.60 per barrel during the Asian hours on Tuesday. Crude oil prices rise due to mounting supply anxieties following a sharp escalation of geopolitical hostilities in the Middle East.
US June CPI Preview: Can Cooling Inflation Open Up Fed Rate Cut Expectations? How Will US Stocks, the Dollar, and Gold React?The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
As of the early Asian trading session on July 13, WTI crude oil ( USOIL) prices surged. Affected by the escalation of the US-Iran conflict over the weekend, the market has re-incorporated
Gold (XAU/USD) opens with a modest bearish gap at the start of a new week and slides back closer to the $4,050 level during the Asian session.
Related Instrument
