Investors in the British pound last Friday were able to relieve the psychological stress due to calm in the whole market. The dollar index fell by 0.16% and after it the pound grew by 24 points. Today, in the Asian session, the dollar lost a significant value on Friday with a formal increase in appetite for risk – once there are no shocks, there is an indirect increase in interest in risk; Nikkei 225 added 0.22%, Shanghai Composite rose by 0.55%.
But the British pound does not have factors present for sustained growth. On Friday, Bank of England official Ben Broadbent and confirmed that the central bank will raise rates slowly, should be more balanced approach to assessing economic performance. In Brexit’s questions, the country has no positive shifts. Tomorrow there will be data on labor, forecasts for which are weak. The number of unemployed in April may increase by 13.3 thousand against 11.6 thousand in March, the unemployment rate is predicted to now show a change at 4.2%, the average wage level taking into account premiums may show a slowdown from 2.8% to 2.7%. In the United States data volume of retail sales for April will also be released that day – the forecast of 0.4%.
We are waiting for the continuation of the sideways trend for GBP/USD with the trend of decline in the range of 1.3450/80.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD
Investors in the British pound last Friday were able to relieve the psychological stress due to calm in the whole market. The dollar index fell by 0.16% and after it the pound grew by 24 points. Today, in the Asian session, the dollar lost a significant value on Friday with a formal increase in appetite for risk – once there are no shocks, there is an indirect increase in interest in risk; Nikkei 225 added 0.22%, Shanghai Composite rose by 0.55%.
But the British pound does not have factors present for sustained growth. On Friday, Bank of England official Ben Broadbent and confirmed that the central bank will raise rates slowly, should be more balanced approach to assessing economic performance. In Brexit’s questions, the country has no positive shifts. Tomorrow there will be data on labor, forecasts for which are weak. The number of unemployed in April may increase by 13.3 thousand against 11.6 thousand in March, the unemployment rate is predicted to now show a change at 4.2%, the average wage level taking into account premiums may show a slowdown from 2.8% to 2.7%. In the United States data volume of retail sales for April will also be released that day – the forecast of 0.4%.
We are waiting for the continuation of the sideways trend for GBP/USD with the trend of decline in the range of 1.3450/80.
The material has been provided by InstaForex Company – www.instaforex.com
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