GBPUSD Pound Steady as BoE Holds Pat

GBP-USD

  • Buz Investors GBPUSD Pound Steady At 10:40 GMT, the pair is trading at 1.2447, with the Pound trading 0.24% higher against US Dollar from the New York close.
  • On the data front, UK’s CBI industrial trends survey indicated that total orders remained flat on a monthly basis in December. The pair witnessed a high of 1.2453 and a low of 1.2383 during the session. Yesterday, the Pound traded 0.42% lower against the US Dollar in the New York session and ended at 1.2417.
  • Immediate downside, the first support level is seen at 1.2369, while on the upside, the first resistance level is situated at 1.2531.

GBPUSD Pound Steady

GBPUSD Pound Jumps to 1.25, Markets Eye Autumn

GBPUSD Pound Steady  GBP/USD has edged higher on Friday, after posting losses in the past two daily sessions. Currently, the pair is trading slightly above the 1.24 line. On the release front, British CBI Industrial Order Expectations climbed to 0 points, the first time the indicator has not posted a decline since March 2015. In the US, today’s highlight is Building Permits. The indicator is expected to remain steady at 1.24 million. There were a host of releases out of the US on Thursday. CPI and Core CPI both came in at 0.2%, also matching the estimates. Other key events looked sharp, as unemployment claims dipped to 254 thousand, while the Philly Fed Manufacturing Index surged to 21.5 points, well above expectations.

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GBPUSD Pound Steady

 

On Thursday, the BoE maintained interest rates, which have been pegged at 0.25% since August. As well, the bank’s asset purchase program remained at 435 billion pounds. The British economy has performed better than the BoE expected since the Brexit vote in June, which resulted in the bank dropping plans to cut rates in October. Instead, the bank adopted a neutral stance for monetary policy. With inflation levels rising, some analysts are predicting that the BoE could actually raise rates in early 2017. However, on Thursday the bank said that with the pound gaining strength since November (especially against the euro), inflation could weaken, which would lessen the need to raise rates.

major currencies: (EUR-USD) (USD-JPY) (GBP-USD) (USD-CHF), (USD-CAD), (AUD-USD)

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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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