EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Forex News

GBP/USD Clings to Gains Near Daily High

Admin by Admin
November 4, 2022
in Forex News
0
GBP USD gains
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
MMC MMC

The GBPUSD pair stages a goodish recovery from a two-week low, around the 1.1150 area touched earlier this Friday and maintains its bid tone through the first half of the European session.

The pair is placed just below mid-1.1200s, the pair, for now, seems to have stalled its recent pullback from a multi-week high amid a modest US Dollar weakness.

A generally positive tone around the equity markets turns out to be a key factor exerting some downward pressure on the safe-haven greenback. That said, elevated US Treasury bond yields, bolstered by the prospects for a further policy tightening by the Federal Reserve, should help limit the downside for the USD. In fact, Fed Chair Jerome Powell downplayed expectations for a dovish pivot and said on Wednesday that it was premature to discuss a pause in the rate-hiking cycle.

Related– GBP/USD Retreats below 1.1500 as Dollar Rebounds

The Bank of England’s gloomy outlook for the UK economy should act as a headwind for the British Pound and contribute to capping the GBPUSD pair. It is worth recalling that the UK central bank forecasts a recession to last for all of 2023 and the first half of 2024.

The BoE on Thursday also indicated a lower terminal peak than is currently priced into markets. This, in turn, warrants some caution for aggressive bullish traders ahead of the release of the US NFP report.

The closely-watched US monthly employment data is expected to show that the economy added 200K new positions in October and the jobless rate edged higher to 3.6% from 3.5% previous.

The key US macro release, along with the US bond yields and the broader risk sentiment, will influence the USD price dynamics and produce some meaningful trading opportunities around the GBPUSD pair.

Source – FxStreet

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: ForexGBPUSD
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

SuperRare To Offer Special Art NFTs

Next Post

Easiest Ways to Make Money with NFTs

Admin

Admin

Next Post
Porsche Halts Its NFT Minting Amid Negative Feedback

Easiest Ways to Make Money with NFTs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
UK Treasury Publishes Crypto Framework Paper

UK Treasury Publishes Crypto Framework Paper

February 1, 2023

Recent News

What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
UK Treasury Publishes Crypto Framework Paper

UK Treasury Publishes Crypto Framework Paper

February 1, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>