ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

GBP/USD Gains Traction Beyond 1.1300, Expects United Kingdom PM Truss' and United States Data

Share On Facebook
share on Linkedin
Print

GBP/USD is being defensive as it is being bought and sold above the price level of 1.1300. Furthermore, the pair continues making attempts to reach higher footholds. Also, talks about the United Kingdom PM Truss’ tax reduction plan and the return of Kwartang to London puts buyers and sellers on the edge. Additionally, the milder yield on the United States Dollar before the United States Consumer-centric fact.

©

The DXY (Dollar Index) stays pressurized near the 112.4 mark, even following the most recent correction off the in-day depth, during a time when traders are worried that the United States CPI will initiate a  fake-out. Yesterday (Thursday) the United States CPI (Consumer Price Index) slowed for the 3rd day in a row when the main CPI increased to a new four facades height on Year Over Year.

GBP/USD Gains Traction Beyond 1.1300, Expects United Kingdom PM Truss' and United States Data

Other GBP/USD Price-Moving Factors
Contrary to this background, the world market stayed dicey and softly bid, but the United States Treasury yield regressed from the most recent height and this is challenging to traders. Therefore GBP/USD buyers and sellers will be anticipating the United States data and any new developments from the United Kingdom for the new bearing.

Having said that, the major United States Retail Sales for last month are predicted d to slow to 0.2% Month Over Month against the 0.3% before and could contribute to the United States dollar’s lack of strength. Another important data will be the preparatory reading of the Michigan Consumer Sentiment Index (CSI) plus the University of Michigan’s five years Consumer Inflation which is anticipated to be released this month (October).

Learn from market wizards: Books to take your trading to the next level

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com