11 Apr

GBP may Surrender early gains ahead of CPI

admin Forex Fundamental Outlook 0 Comments

GBP – Consumer Price Index (CPI) @ 02.00 pm

Manufacturing Production data and Trade Balance below expectations. 
U.S. Nonfarm Payrolls poor but Unemployment Rate above expectations.
Last Week’s UK Services PMI seen back to 55, far superior than the 53.3 of earlier month. UK Manufacturing PMI fell under previous one, for the 2nd time in a row. UK GDP YoY poorer than Expected. US Non-farm Private Employment raise much than predictable for the 2nd straight month in March.
UK’s Prime Minister Theresa May is properly filing paperwork to depart the European Union. Various unresolved tension with Scotland & Northern Ireland, which voted against departure the EU. May provided no clear preparation about the comprehensive free-trade business with EU members she wants to accomplish.
Sterling, alternatively, traded advanced against all of the major currencies. While inspiring, GBPUSD pair has yet to break on top of 1.243 levels, capped by the 20-50-100-day SMAs. The convergence of all these SMAs at a former support currently turned resistance level is significant because if the pair manages to mount above 1.245 levels, we should see a much stronger rally. Nevertheless, the longer it struggles to go beyond this level the superior the chance of a move down to 1.2300 levels. This is a full of activity week for UK data & sterling traders might be waiting to see how those economic reports fare earlier than jumping into a trade. 
Consumer & producer prices are scheduled for publish on Today & stronger value growth would authenticate the hawkish dissent at the last BoE-Bank of England monetary policy meeting & force GBPUSD advanced. Still if price increase slows, investors will begin to worry regarding the implications for BoE policy, particularly before this week’s speech from BoE Governor Carney.
Previous Next
Share This Post

Why we choose Forex Market?
Oct 06 , 2015

Forex, Commodity and Binary Trading Signals on 5th May 2016
May 04 , 2016

Forex Trading Terminologies
Oct 21 , 2015


Free Forex Trading Seminar In Salem
Aug 19 , 2018

Forex Weekly Technical Outlook on 7-11 August 2017
Aug 07 , 2017

Forex Weekly Technical Outlook on 24-28 JULY 2017
Jul 24 , 2017

watercolor paints

Read ICM Capital Review

  LeTechs Rating  
  Regulation   FCA
  Branches   UAE, China, Russia, Mauritius
  Bonus   $1000


watercolor paints

Read Fidelis Capital Markets Review

  LeTechs Rating  
  Regulation   FSA, St. Vincent and the Grenadines
  Branches   Except USA, Belgium and British Columbia
  Bonus   200% Bonus




Google Plus

Risk warning: Trading foreign exchange (Forex Trading) and contracts for differences (CFDs) on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Please ensure you fully understand the risk involved before trading, and if necessary seek independent advice.

Copyright © 2015 LeTechs. All Rights Reserved.