Trading news

GBP/USD fades a spike to 1.2540, focus shifts to UK CPI

The GBP/USD pair drops back towards 1.25 handle following a freak spike to daily highs at 1.2540, as the risk-on flows in the London stocks lose steam amid a pick-up in buying interest around the alternative higher yielding asset, the US treasury yields. The UK’s FTSE trades neutral around 7,260 levels, while treasury yields rally +0.75% to +1.20% across the curve.

However, the spot looks to hold 1.25 handle amid stalled selling in the EUR/GBP cross, as focus shifts towards a fresh batch of fundamental drivers from the UK docket due on the cards tomorrow. The UK offers CPI on Tuesday. UK CPI preview: Inflation expected to accelerate further in Jan - Natixis

GBP/USD Levels to consider

At, 1.2511, the upside barriers are lined up at 1.2540 (daily top), 1.2572 (Dec 15 low) and 1.2600 (round figure). While supports are aligned at 1.2473 (daily S1) and 1.2413 (100-DMA) and below that at 1.2378 (50-DMA).

AG Markets Review

Monday, 13 Feb, 2017 / 12:55

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.ag-markets.com/news/

Trading news

 

Dollar firms, stocks slip amid US stimulus doubts

  Talks on US stimulus package continue but deal in doubt after [...]

Posted on Thursday, 22 Oct, 2020 / 9:34 under

Up to the US Elections Results

The US economy has recovered modestly in the third quarter thanks to [...]

Posted on Thursday, 22 Oct, 2020 / 9:18 under

OIL dropped 2.5% after excess supply – US OIL Market Outlook – 22/10/2020

WTI Crude dropped by more than 2.50%, hitting our short entry support targets, [...]

Posted on Thursday, 22 Oct, 2020 / 7:55 under