- Pound Sterling struggles to extend upside amid multiple headwinds. Despite a significant improvement, the UK Services PMI failed to conquer the 50.0 threshold.
Andrew Bailey remains confident of bringing down inflation to 5% or below by year-end.
- The Pound Sterling (GBP) recovers as the appeal for risk-perceived assets improves but struggles to extend the upside. The upside in the GBP/USD pair seems limited as the United Kingdom’s economy is approaching a slowdown due to vulnerable economic activities, potential inflation shocks, and deteriorating demand.
- In spite of an improvement in the UK Services PMI, the economic data remains below the 50.0 threshold, suggesting a contraction. The UK economy is failing to absorb the consequences of higher interest rates by the Bank of England (BoE), rising oil prices, and supply chain disruptions due to the Russia-Ukraine war.
" Psychology, discipline and capital management are the three factors that make victory possible "
Andrew Bailey remains confident of bringing down inflation to 5% or below by year-end.
- The Pound Sterling (GBP) recovers as the appeal for risk-perceived assets improves but struggles to extend the upside. The upside in the GBP/USD pair seems limited as the United Kingdom’s economy is approaching a slowdown due to vulnerable economic activities, potential inflation shocks, and deteriorating demand.
- In spite of an improvement in the UK Services PMI, the economic data remains below the 50.0 threshold, suggesting a contraction. The UK economy is failing to absorb the consequences of higher interest rates by the Bank of England (BoE), rising oil prices, and supply chain disruptions due to the Russia-Ukraine war.
" Psychology, discipline and capital management are the three factors that make victory possible "
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- Pound Sterling aims to extend upside toward the round-level resistance of 1.2200 as the US Dollar shifts on the backfoot after the release of the weaker-than-anticipated US ADP Employment Change data.
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GBP/USD consolidates its strong recovery gains registered over eth past two days. Traders move to the sidelines and keenly await the release of the US NFP report.
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BoE’s Broadbent remains confident about achieving price stability in two years.
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Bank of England Decision Maker Panel survey offered a few interesting highlights. Economists at ING discuss GBP outlook.
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GBP/USD rebounds from multi-month lows, climbing to 1.2240s amidst a backdrop of positive US labor market data.
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Great
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