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Forex Trading, Market News & Technical Analysis

GBP/USD Rebounds to 1.2740 As Theresa May Forms Alliance with Northern Ireland's DUP Party

Posted by Chris Advincula on Jun 26, 2017 7:10:27 AM

Sterling reversed its decline to 1.2705 after the initial selling in early Europe following the news headline that British Prime Minister Theresa May reached an agreement with the Northern Irish Democratic Unionist Party on Monday to gain coalition support for the UK Conservatives. 


Topics: GBPUSD, Forex, BREXIT

GBP/USD Rose to 1.2740 on BOE's MPC Kristin Forbes Comment on Rates

Posted by Chris Advincula on Jun 23, 2017 7:08:48 AM

Sterling rose on extended gains from the 1.2675 level in the prior Asian session to rise to the intraday high of 1.2745 in the Friday European session as traders take into account the hawkish comment by one of the Bank of England MPC member, Krisin Forbes.


Topics: GBPUSD, Forex

GBP/USD Fell to 1.2660 on BOE's Mark Carney Comment on Rates

Posted by Chris Advincula on Jun 20, 2017 7:15:45 AM

(Jun 20 Tues) Sterling fell against the dollar from 1.2740 to 1.2660 in reaction to the bearish comments from Bank of England's Governor Mark Carney who said that he still had concerns over the impact of Brexit on the U.K. economy and gave hints that he does not intend to rush into raising interest rates to address the weakness of the UK economy and subdued inflation.


Topics: GBPUSD, Sterling Pound, Forex, BREXIT

GBP/USD Rallies to 1.2790 after 3 BOE MPC Members Voted to Raise Rates

Posted by Chris Advincula on Jun 15, 2017 7:26:17 AM

The Bank of England kept their key interest rate unchanged at 0.25% and its asset purchase unchanged at 435bn sterling at its June meeting today. However, there were 3 members out of the eight MPC members who voted to raise the Bank Rate by 25 basis points, which pushed sterling higher by 97 pips from 1.2693 to 1.2795. (11:00 GMT). The MPC members, Forbes, McCafferty and Saunders were the dissenters. 


Topics: GBPUSD, Forex, BOE Monetary Policy

GBP/USD Rose to 1.2730 as U.K. Inflation Rose to 2.9% in May

Posted by Chris Advincula on Jun 13, 2017 7:02:54 AM

(Jun 13 Tuesday) U.K. inflation rose to +2.9% in May versus the median forecast +2.7% and compared to 2.7% in the previous month of April. The core CPI rose to +2.6% versus the median forecast of 2.3% compared to 2.4% in April. The inflation data rose to a 4 year high which lifted sterling higher from 1.2690 to 1.2730 on the chart.


Topics: GBPUSD, Forex, UK CPI


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