GBPUSD MOVING BUY

15 Mar

The Pound Sterling jumped back into the game, as the US Dollar resumed its downtrend amid an action-packed week. It wasn’t as favorable for the Greenback, in the face of a series of discouraging United States (US) economic data and Federal Reserve Chair Jerome Powell’s dovish comments.

The US ISM said on Tuesday that its Services PMI slipped to 52.6 in February from 53.4 in January. A gauge of prices paid for inputs by businesses fell to 58.6 from an 11-month high of 64.0 in January. Meanwhile, the US private sector added 140,000 jobs in February, an increase from the upwardly revised 111,000 in January while a tad below the expected 150,000 addition, ADP reported on Wednesday. The number of job openings on the last business day of January stood at 8.86 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS). The data also came in slightly below the market forecast of 8.9 million.

15 Mar

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