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GBP/USD Outlook July 1-5

The US dollar continued to chip away at the pound last week, as GBP/USD dropped close to two cents. This week’s major events include PMIs and the Official Bank Rate, the first from new BOE Governor Mark Carney. Here is an outlook of the events and an updated technical analysis for GBP/USD.

It was a gloomy week in the UK. British Current Account, the only British key event last week, was a major disappointment, as it posted a larger deficit than forecast. The pound got no help as the British government announced deep spending cuts as the economy continues to struggle. Meanwhile, US releases were mostly positive last week, helping the dollar post more gains at the expense of the pound.

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Forex Daily Outlook May 31 2013

Forex Daily Outlook May 31 2013

We end this week with Canadian GDP and US consumer related data as the major events this day. Here is an outlook on the market-movers awaiting us. In the US, Core PCE Price Index , measuring inflation in sold goods and services, remained unchanged in March following a 0.1% gain in the previous month. Analysts expected [&hellip

GBP/USD Outlook May 27-31

GBP/USD Outlook May 27-31

The pound showed some movement in both directions, but ended the week with very modest losses, as GBP/USD closed at 1.5122. The upcoming week is very quiet, with just four releases on the schedule. Here is an outlook of the events and an updated technical analysis for GBP/USD. British inflation numbers, including CPI, missed their estimates, and Retail [&hellip

Forex Daily Outlook April 30 2013

Forex Daily Outlook April 30 2013

CB Consumer Confidence in the US and GDP in Canada are the main events lined up.  Let’s see what awaits us today. In the US, The Conference Board (CB), Consumer Confidence survey to value the current and future financial conditions like labor availability and overall economic situation, rise up to 60.6 points from 59.7 points on [&hellip

GBP Outlook April 29 – May 3

GBP Outlook April 29 – May 3

GBP/USD shot higher late last in the week, as the pound gained about 250 points against the US dollar. The pair closed the week at 1.5473. This week’s highlights are PMI releases. Here is an outlook of the events and an updated technical analysis for GBP/USD. The pound  had a quiet week until Thursday, when the UK [&hellip

Forex Daily Outlook April 2 2013

Forex Daily Outlook April 2 2013

Factory Orders in the US and Manufacturing PMI in the UK are the main events lined up.  Let’s see what awaits us today. In the US, Charles Evans, Federal Reserve Bank of Chicago President is about to speak in Richmond. Later in the US,  Factory Orders, production leading indicator to value al the new manufacturer’s [&hellip

GBP/USD Outlook April 1-5

GBP/USD Outlook April 1-5

The British pound was down slightly against the dollar last week, as GBP/USD closed just above the 1.52 line, at 1.5201. This week could be eventful, as the highlights include PMI numbers and the Official Bank Rate. Here is an outlook of the events and an updated technical analysis for GBP/USD. Last week saw disappointing data out of both the US and [&hellip

GBP/USD Falls to new 2.5 year low on Negative Manufacturing PMI

GBP/USD Falls to new 2.5 year low on Negative Manufacturing PMI

The purchasing managers’ index for the UK’s manufacturing sector disappointed quite badly in February: it dropped from 50.8 to 47.9 points, well below expectations for a rise to 51 points. A score below 50 represents contraction. GBP/USD took the news quite badly, falling over a 100 pips and breaking below the previous low of 1.5069 [&hellip

Forex Daily Outlook January 30 2013

Forex Daily Outlook January 30 2013

Advance GDP in the US and RBNZ Rate Statement in New Zealand are the main events today.  Here is an outlook on the market-movers awaiting us In the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, the estimated number of employed people on the last month (without the farming industry and government), 164K is likely [&hellip

GBP/USD Outlook Jan 28 – Feb 1

GBP/USD Outlook Jan 28 – Feb 1

GBP/USD was down slightly this week, as the pair closed just below the 1.58 line, at 1.5795. The pound has now shed 450 points against the US dollar since the beginning of the year. There are only four events scheduled in the upcoming week, with the highlight being Manufacturing PMI. Here is an outlook of the events and an [&hellip