GBP/USD: CBI manufacturing survey soft in January – Scotiabank
Source Fxstreet
The CBI’s January survey of manufacturing was generally morose, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
GBP little changed on the session
“It revealed a small improvement in still weak orders, some improvement in still weak output and a further slide in the quarterly business optimism reading that likely reflects concerns about the government’s fiscal plans and the recent market volatility associated with them. Sterling is holding little changed on the day and over the week so far, however.”
“Cable continues to grind out some gains on the USD on the charts after basing at 1.21 last week but progress is slow towards key resistance (and potential bull trigger) at 1.2415/25—retracement and trend resistance. Support is 1.2325.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Silver Price Forecast: XAG/USD rises to near $85.00 as Middle East war intensifiesSilver price (XAG/USD) recovers over 3% during the Asian hours on Wednesday, hovering around $85.20 per troy ounce after plunging more than 12% over the previous two sessions. The precious metal draws safe-haven demand as geopolitical conflict in the Middle East intensifies.
Silver price (XAG/USD) recovers over 3% during the Asian hours on Wednesday, hovering around $85.20 per troy ounce after plunging more than 12% over the previous two sessions. The precious metal draws safe-haven demand as geopolitical conflict in the Middle East intensifies.
West Texas Intermediate (WTI) US Crude Oil prices attract fresh buyers on Wednesday and climb back closer to the highest level since January 2025, touched the previous day.
Related Instrument
