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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 released a better than expected GDP for Q1. This enabled the pound to post a rally late in the week. The markets were pleased as the key release climbed 0.3%, beating the estimate of 0.1%. As well, GDP rebounded nicely from Q4, which declined by 0.3%.

Read the rest of the article GBP Outlook April 29 – May 3
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

GBP/USD Outlook Dec 31 2012 – Jan 4 2013

GBP/USD Outlook Dec 31 2012 – Jan 4 2013

GBP/USD showed some movement, but for the second straight week, the pair was unchanged at the close of the week, ending the trading week at 1.6152. Manufacturing, Services and Construction PMIs are the highlight of the week. Here is an outlook of the events and an updated technical analysis for GBP/USD. The only UK release last week was within expectations, and [&hellip

GBP/USD Outlook Nov. 26-30

GBP/USD Outlook Nov. 26-30

GBP/USD broke out of narrow range trading as the pair gained over once cent on the week. The pair pushed above the 1.60 line, closing at 1.6024. The upcoming week has eight events. Here is an outlook of the upcoming events, and an updated technical analysis for GBP/USD. GBP/USD pushed higher, bolstered by some solid numbers out of the [&hellip

GBP/USD Outlook Oct 29-Nov 2

GBP/USD Outlook Oct 29-Nov 2

GBP/USD had a good week, as the pair gained close to one cent, closing  at 1.6091. The highlights of  the week are the Manufacturing and Construction PMIs. Here is an outlook of the upcoming events, and an updated technical analysis for GBP/USD. Preliminary GDP was a stellar performer, as it jumped 1.0%, its highest increase since July [&hellip

Forex Daily Outlook October 1 2012

Forex Daily Outlook October 1 2012

We begin the week with US ISM Manufacturing PMI and Bernanke’s speech  as the main highlights on today’s outlook. Let’s see what awaits us today. In the US, ISM Manufacturing PMI. Manufacturing activity in the US continued to contract posting 49.6 in August, after 49.8 in July. The index remained below the 50 point line [&hellip