GBP/USD could edge up to 1.2670/1.2680 today – ING
Source Fxstreet
GBP/USD struggles to to recover. Economists at ING analyze the pair’s outlook.
Fiscal stimulus?
The Resolution Foundation has today released a report suggesting that UK Chancellor Jeremy Hunt has £23bn of fiscal headroom for stimulus at the 6 March budget.
The 6 March UK budget could also throw up some wild cards on incentives of UK pension funds to invest in UK asset markets. The decline of London's ability to attract major listings has been well-documented and some incentives here – including the additional concept of a British Individual Saving Account – could prove something of a wild card to Sterling's prospects.
A softer Dollar environment could see GBP/USD edge up to 1.2670/1.2680 today, but we would not chase the move higher.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological
US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollarWashington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.
Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.
Gold rebounds to near $4,350 on weaker US Dollar, falling oil pricesGold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.
Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.
International oil prices continued to fall after the Federal Reserve resumed rate hikes in September. On Wednesday, WTI crude dropped 3.28% to settle at $102.02 per barrel; Brent crude fe
Dow drops 631 points as the Fed hikes — but futures are rebounding: what's next for US stocks?The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.
The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.
Related Instrument
