WorldForex_Eng

WorldForex_Eng

Unlike Euro, GBP feels much better as UK economics allows decreasing stimulus in the nearest future. This was the main point from the recent Mark Carney speech during the Bank of England Press Conference. However, he did not mention any exact date. UK data was neutral last week and met the expectations. This is why traders paid much attention to the Bank of...

WorldForex_Eng

The currency pair attempted to reverse last week despite our downtrend expectations. However, there was no significant growth of EUR/USD. The currency pair failed to reach 1,1300 and reversed again. Investors and traders have paid too much attention to the FOMC meeting results. USD went upwards after this event, but reversed later as the FOMC head’s speech was...

WorldForex_Eng

The currency pair developed its downtrend last week after testing the resistance at 1,1285. This downtrend is directly connected to stronger USD positions. We think that this is due to both macroeconomic data and low after holiday volumes. German Ifo Business Climate declined to 99,2 as compared to previous 99,7. Economists expected some growth towards...

WorldForex_Eng

British currency declined last week due to US data and after holiday volumes. GBP/USD managed to strengthen its positions below 1,2980. There was no important UK data last week. As for the US data, we have mentioned it in our EUR/USD review. It is to say that the US data was strong and gave significant support to USD. What to expect from the currency pair this...

WorldForex_Eng

British currency declined last week and reached the support at 1,2980. UK CPI data was the main catalyst for the currency pair to decline. The head of the Bank of England has mentioned that the current inflation level is below target and allows the Bank of England to hold the monetary policy unchanged for some period. As for the Retail Sales data, this indicator...

WorldForex_Eng

The currency pair declined last week and failed to break out the resistance at 1,1285 regardless several attempts. The main reason for this was weak German Manufacturing PMI, which is still below 50 and failed to meet economists forecasts even. French Manufacturing PMI was also below 50, which added negative moods to the market. As for German ZEW economic...

WorldForex_Eng

The currency pair was growing last week and managed to test the resistance at 1,1285. EUR/USD stays above this level in the moment of writing. As for the important events, it is to mention the ECB meeting, which took place on Wednesday. The central bank has made no changes on its monetary policy. Mario Draghi has mentioned that they are considering different ways...

WorldForex_Eng

The currency pair fluctuated in a range last week. After testing the support at 1,2980 GBP/USD started to grow. The main event for the last week was Brexit delay. EU agreed to offer a delay and to postpone the event on the end of October. As for the macroeconomic data, most important releases were UK GDP data and manufacturing production. UK GDP has shown 0,2%...

WorldForex_Eng

The currency pair fluctuate in a range last week. GBP/USD has tested the support at 1,2980. This range fluctuation is connected to the uncertainty around the way the UK is going to leave the EU (with the deal or without it). There is even a probability that the Brexit will be delayed for one year (according to the latest rumors). UK Manufacturing PMI has shown...

WorldForex_Eng

The currency pair fluctuated in a very narrow range last week and has attempted to break down psychologic 1,1200 level. However, EUR/USD still stays above this area in the moment of writing. As for the interesting events and releases, we have paid attention to the inflation data in Eurozone. CPI and Core CPI were worse not only than previous readings, but also...

WorldForex_Eng

The currency pair declined last week and tested the ascending trend line. GBP/USD has managed to break down the support at 1,3232. The currency pair is still “uncertain” because of Brexit. The main event of the last week was the BoA meeting. The MPC has not made any change in monetary policy, but Mark Carney has mentioned that the Bank of England will have to hike...

WorldForex_Eng

The currency pair went upwards last week and fluctuated in the middle of the range. However, starting from Thursday, EUR/USD declined. What were the reasons for such fluctuations? First, strong downtrend on Thursday and Friday was determined by a very weak Eurozone’s PMI data. German manufacturing PMI declined to 44,7. French manufacturing PMI declined to 49,8. As...

WorldForex_Eng

The currency pair developed its growth last week according to our expectations and managed to break out the resistance at 1,3206. GBP/USD started a correction later last week and has tested this level from above. What were the main factors that affected fluctuations? First of all, US GDP data, which is described in our EUR/USD review for the last week. As for the...

WorldForex_Eng

The currency pair developed its uptrend in the beginning of the last week, but started a correction on Thursday and tested the ascending trend line on Daily chart. The main reason for this correction was the US GDP data that was better than expected. US economy has shown 2,6% growth in the last quarter of 2018, which was better than 2,2%, expected by the...

WorldForex_Eng

The currency pair went upwards last week according to our expectations and managed to break out both the resistance at 1,2926 and the ascending trend line. Later, BP/USD started a correction. As for the important data, UK average earnings index remained unchanged as well as the unemployment rate. Economists forecasted wages growth. Technically speaking, GBP/USD...

WorldForex_Eng

The currency pair went upwards last week and managed to break out the resistance at 1,1303. EUR/USD has also tested the ascending trend line from below. However, the currency pair stood below this trend line by the end of Friday’s session. German ZEW Economic Sentiment data was better than expected. The indicator remains below 0, but it jumped above the previous...

WorldForex_Eng

The currency pair has tested the trend line and managed to break it down last week. GBP/USD started to regain its positions later and managed to return to the ascending trend line by Friday’s end of session. The main drivers for the downtrend last week were Brexit and weak UK data.UK monthly GDP growth declined to -0,4% Economists expected this indicator to be...

WorldForex_Eng

The currency pair has tested the ascending trend line and the support at 1,1303 last week. EUR/USD managed to break down those lines. The main drivers for this downside move were weaker than expected Eurozone data and Brexit. As for the interesting data, we would like to underline Eurozone production index that has shown negative growth (-0,9%). German economy has...