Currency
Pound Sterling is at fresh two-week lows testing the 1.2675 resistance area
GBP/USD is at fresh two-week lows testing the 1.2675 resistance area
The Sterling is building up bullish momentum on Thursday, buoyed by a favourable market sentiment, which is weighing on the safe-haven US Dollar.
Data from the US Labor Department revealed that Jobless Claims increased by 222K in the last week of March 29, from the upwardly revised 212K in the previous week. The market had anticipated a softer 214K increase. Read More…
Pound Sterling extends upside on UK’s improved economic outlook, soft US Dollar
The Pound Sterling (GBP) aims to extend its recovery above the one-week high of 1.2660 in Thursday’s early New York session. The GBP/USD pair exhibits strength as recent economic indicators in the United Kingdom have shown that the economy is on track to return to growth after falling into a technical recession in the second half of 2023. Meanwhile, a weaker US Dollar due to the poor United States Institute of Supply Management (ISM) Services PMI data for March also boosted the Cable. Read More…
GBP/USD remains on the defensive near 1.2650, focus on US Initial Jobless Claims
GBP/USD hovers around 1.2650 during the Asian session on Thursday. However, the US Dollar (USD) encountered challenges yesterday following the release of mixed economic data from the United States (US), which showed a stronger ADP Employment Change but softer ISM Services PMI figures. Read More…
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