GBP Trading Outlook


 
21.8.2014-18.8.2014 15.8.2014-11.8.2014 8.8.2014-4.8.2014 1.8.2014-28.7.2014 25.7.2014-21.7.2014 18.7.2014-14.7.2014 11.7.2014-7.7.2014 3.7.2014-30.6.2014 27.6.2014-23.6.2014 20.6.2014-16.6.2014 13.6.2014-10.6.2014 4.6.2014-2.6.2014 28.5.2014-26.5.2014 23.5.2014-19.5.2014 16.5.2014-12.5.2014 9.5.2014-5.5.2014 2.5.2014-28.4.2014 25.4.2014-22.4.2014 18.4.2014-14.4.2014 11.4.2014-7.4.2014 4.4.2014-31.3.2014 28.3.2014-24.3.2014 21.3.2014-17.3.2014 14.3.2014-10.3.2014 6.3.2014-3.3.2014 28.2.2014-24.2.2014 21.2.2014-17.2.2014 14.2.2014-10.2.2014 7.2.2014-3.2.2014 31.1.2014-27.1.2014 24.1.2014-20.1.2014 17.1.2014-14.1.2014 8.1.2014-8.1.2014 3.1.2014-23.12.2013 19.12.2013-16.12.2013 13.12.2013-9.12.2013 6.12.2013-2.12.2013 29.11.2013-25.11.2013 22.11.2013-20.11.2013 1.11.2013-28.10.2013 25.10.2013-21.10.2013 18.10.2013-14.10.2013 11.10.2013-7.10.2013 2.10.2013-30.9.2013 27.9.2013-16.9.2013 13.9.2013-11.9.2013 23.8.2013-12.8.2013 9.8.2013-5.8.2013 30.7.2013-29.7.2013 25.7.2013-22.7.2013 18.7.2013-15.7.2013 12.7.2013-9.7.2013 28.6.2013-24.6.2013 21.6.2013-19.6.2013 7.6.2013-3.6.2013 31.5.2013-28.5.2013 23.5.2013-20.5.2013 17.5.2013-14.5.2013 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

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.


  Go to The Sterling (GBP) Archive