GBP/USD retraces the recent losses near 1.2150, focus on UK labor data, US Retail Sales
The post GBP/USD retraces the recent losses near 1.2150, focus on UK labor data, US Retail Sales appeared on BitcoinEthereumNews.com. GBP/USD recovers from the recent losses ahead of economic figures from both countries. A slew of solid US data contributed support in underpinning the US Dollar. Investors seem to price in the probability of another rate hike by the Fed. GBP/USD retraces the recent losses, trading higher around 1.2150 during the Asian session on Monday. The pair faced challenges possibly due to the shift in discussions about the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are expected to focus on the labor data coming from the United Kingdom (UK). Employment Change expects a decline of 195K in August and ILO Unemployment Rate (3M) is expected to remain consistent at 4.3%. On Monday, the Rightmove House Price Index (MoM) increased to 0.5% in October from the previous 0.4%. The yearly data showed that residential property prices declined by 0.8% compared to the 0.4% decline in the previous report. The US Dollar Index (DXY) trades slightly lower around 106.50 at the time of writing. The US Dollar (USD) gained upward momentum after a release of robust US data during the previous week, with US inflation surpassing expectations and initial jobless claims coming in lower than anticipated. However, the preliminary US Michigan Consumer Sentiment Index was eased in October. On Friday, the report for October showed a decline to 63.0 from the previous reading of 68.1, falling short of the expected figure of 67.4. Investors seem to factor in the possibility of another Federal Reserve (Fed) rate hike. The market sentiment has shifted following the slew of robust economic data from the United States (USD). This could result in providing downward pressure on the GBP/USD pair. Moreover, the recovery in US Treasury yields from the recent losses could provide support in underpinning the US Dollar (USD). The yields on US…
The post GBP/USD retraces the recent losses near 1.2150, focus on UK labor data, US Retail Sales appeared on BitcoinEthereumNews.com.
GBP/USD recovers from the recent losses ahead of economic figures from both countries. A slew of solid US data contributed support in underpinning the US Dollar. Investors seem to price in the probability of another rate hike by the Fed. GBP/USD retraces the recent losses, trading higher around 1.2150 during the Asian session on Monday. The pair faced challenges possibly due to the shift in discussions about the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are expected to focus on the labor data coming from the United Kingdom (UK). Employment Change expects a decline of 195K in August and ILO Unemployment Rate (3M) is expected to remain consistent at 4.3%. On Monday, the Rightmove House Price Index (MoM) increased to 0.5% in October from the previous 0.4%. The yearly data showed that residential property prices declined by 0.8% compared to the 0.4% decline in the previous report. The US Dollar Index (DXY) trades slightly lower around 106.50 at the time of writing. The US Dollar (USD) gained upward momentum after a release of robust US data during the previous week, with US inflation surpassing expectations and initial jobless claims coming in lower than anticipated. However, the preliminary US Michigan Consumer Sentiment Index was eased in October. On Friday, the report for October showed a decline to 63.0 from the previous reading of 68.1, falling short of the expected figure of 67.4. Investors seem to factor in the possibility of another Federal Reserve (Fed) rate hike. The market sentiment has shifted following the slew of robust economic data from the United States (USD). This could result in providing downward pressure on the GBP/USD pair. Moreover, the recovery in US Treasury yields from the recent losses could provide support in underpinning the US Dollar (USD). The yields on US…
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