GBP Trading Outlook


 
16.5.2013-14.5.2013 10.5.2013-6.5.2013 2.5.2013-30.4.2013 26.4.2013-22.4.2013 16.4.2013-16.4.2013 10.4.2013-25.3.2013 21.3.2013-19.3.2013 15.3.2013-11.3.2013 7.3.2013-4.3.2013 1.3.2013-25.2.2013 22.2.2013-18.2.2013 15.2.2013-12.2.2013 8.2.2013-4.2.2013 1.2.2013-28.1.2013 25.1.2013-21.1.2013 18.1.2013-14.1.2013 11.1.2013-7.1.2013 4.1.2013-2.1.2013 27.12.2012-18.12.2012 12.12.2012-10.12.2012 7.12.2012-26.11.2012 22.11.2012-12.11.2012 9.11.2012-5.11.2012 2.11.2012-29.10.2012 26.10.2012-22.10.2012 19.10.2012-15.10.2012 12.10.2012-8.10.2012 5.10.2012-1.10.2012 28.9.2012-24.9.2012 21.9.2012-17.9.2012 14.9.2012-10.9.2012 7.9.2012-3.9.2012 31.8.2012-27.8.2012 24.8.2012-20.8.2012 17.8.2012-13.8.2012 10.8.2012-6.8.2012 3.8.2012-30.7.2012 27.7.2012-23.7.2012 20.7.2012-16.7.2012 13.7.2012-9.7.2012 6.7.2012-2.7.2012 29.6.2012-26.6.2012 22.6.2012-18.6.2012 14.6.2012-11.6.2012 8.6.2012-4.6.2012 1.6.2012-28.5.2012 25.5.2012-21.5.2012 18.5.2012-14.5.2012 11.5.2012-7.5.2012 4.5.2012-30.4.2012 27.4.2012-23.4.2012 20.4.2012-16.4.2012 13.4.2012-9.4.2012 5.4.2012-2.4.2012 30.3.2012-27.3.2012 23.3.2012-19.3.2012 16.3.2012-12.3.2012 9.3.2012-5.3.2012 2.3.2012-27.2.2012 24.2.2012-20.2.2012 17.2.2012-13.2.2012 10.2.2012-6.2.2012 3.2.2012-30.1.2012 27.1.2012-23.1.2012 20.1.2012-16.1.2012 13.1.2012-9.1.2012 6.1.2012-2.1.2012 30.12.2011-26.12.2011 23.12.2011-19.12.2011 16.12.2011-12.12.2011 9.12.2011-5.12.2011 2.12.2011-28.11.2011 24.11.2011-21.11.2011 18.11.2011-14.11.2011 11.11.2011-7.11.2011 4.11.2011-31.10.2011 28.10.2011-24.10.2011

8th February

The Sterling (GBP) reacted positively to new BOE Governor Carney comments that he will be looking to create an exit plan for the BOE’s recent Asset Purchases which surprised the market given expectations of a more dovish tone. He rejected the FED model of unlimited printing of money and was very candid in his expectation of the tough road ahead for the UK economy. Confidence seemed to be restored in the Pound and gains were strong especially against the Euro. Looking ahead, German December Trade Balance forecast at 14.8bn vs. 14.6bn previously. 

7th February

The Sterling (GBP) the GBP/USD will be vulnerable to its own interest rate event risk today with the MPC meeting but widely forecast to stay on hold. Volatility may come from the future BOE Governor who will be speaking before the MPC and may offer his own view on the current UK monetary policy. Looking ahead, Future Governor Carney Speaks. MPC Forecast to hold rates at 0.5%. Also, ECB Interest Rate Meeting forecast to hold at 0.75% with attention on President Draghi’s press conference afterwards.

6th February

The Sterling (GBP) the GBP/USD was whippy hitting 1.5800 after better than expected services PMI in January at 51.5 vs. 49.5 previously back into expansionary territory. Fresh selling emerged at the highs and accelerated lower to fresh trend lows as EUR/GBP buying undermined the Pound once again. Looking ahead, January Halifax HPI forecast at -0.2% vs. 1.3% m/m. Also December German Factory Orders at 0.8% vs. -1.8% previously.

5th February

The Sterling (GBP) the GBP/USD got support from the EUR/GBP liquidation from 0.8700 down to 0.8560 and helped cable lift from 1.5700 to 1.5750. The GBP/USD has already been under pressure over the last few weeks so the market could not push lower but further European stock market jitters could lead to more losses ahead of the BOE on Thursday. Looking ahead, January EU PMI services forecast at 48.3 vs. 48.3 previously. Also UK January PMI forecast at 49.5 previously.

4th February

The Sterling (GBP) it was a tail of two cities on Friday with the GBP/USD clobbered unable to track stocks higher and instead falling on the back of weak economic data. January Manufacturing PMI dropped to 50.8 vs. 51.4 previously. EUR/GBP buying was another source of GBP weakness with the important cross hitting 0.8700 on Friday. Looking ahead, UK January Construction PMI previously at 48.7. Also, December EU PPI forecast at 0.1% vs. -0.2% previously.


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