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| GBP and USD |
United Kingdom and United States exchange rates in Forex
markets moved up as sterling shone in GBP/USD pair, as USD slid with
disappointing US job report published over the weekend.
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The
gain in forex market fell back as political concerns in Scotland
plunged the gain to record 10-months lowest rate of GBP/USD of 1.6165
falling over a percent in early trade on Monday. The fall kept the
outlook of the pair bearish in the market as GBP/USD recorded last
lowest on 26 November 2013 at 1.6222 dipping 0.7 percent.
Great British Pound shed its gains after vote for independence of Scotland resulted in favor of the move. Sterling is likely face more in the coming 10 days till September 18 when final decision on Scottish independence is framing out.
Against the most popular forex Asian currency, sterling dropped to its three-months lowest record reporting at 169.68 yen (GBP/JPY), after which it settled between the levels hitting highest at 170.41 yen.
On technical charts, sterling is trading in between $1.6000 and $1.6100 marked as long-term support levels according to 100-week and 200-week moving averages against USD.
European benchmark currency, Euro is trading under pressure after ECB's decision of bringing down interest rates after last Thursday's meeting. EUR/USD tripped down to 1.2950 nearing its 14-months' lowest record at 1.2920.
Australian dollar worked its way up in early trade as its stabilized markets cued up with falling USD on the back of unexpected lowered US job data. AUS/USD climbed 0.1 percent coming at 0.9369, with a stronger result of 0.9403 posted on last Friday's closing breaking its previous record set in July.
NEWS to watch for in the coming week
Tuesday, September 9
The U.K. will publish data on industrial and manufacturing production along with a report accumulated on the data of trade balances. Another highlight of the day is coming from BoE Governor Mark Carney who will share his views in Manchester, USA.
Wednesday, September 10
BoE Governor Mark Carney with other monetary policy committee members will check up the reports of inflation and present the report highlighting economic outlook to the Parliament’s Treasury committee members.
Thursday, September 11
The U.S. will post its first weekly report commenting on its initial jobless claims.
Friday, September 12
U.S. will publish data on retail sales, accumulated by the government on the basis of measurement of consumer spending, which forms majority of overall economic activity. Another important report coming into picture is primary reports presenting consumer buying sentiments.
Great British Pound shed its gains after vote for independence of Scotland resulted in favor of the move. Sterling is likely face more in the coming 10 days till September 18 when final decision on Scottish independence is framing out.
Against the most popular forex Asian currency, sterling dropped to its three-months lowest record reporting at 169.68 yen (GBP/JPY), after which it settled between the levels hitting highest at 170.41 yen.
On technical charts, sterling is trading in between $1.6000 and $1.6100 marked as long-term support levels according to 100-week and 200-week moving averages against USD.
European benchmark currency, Euro is trading under pressure after ECB's decision of bringing down interest rates after last Thursday's meeting. EUR/USD tripped down to 1.2950 nearing its 14-months' lowest record at 1.2920.
Australian dollar worked its way up in early trade as its stabilized markets cued up with falling USD on the back of unexpected lowered US job data. AUS/USD climbed 0.1 percent coming at 0.9369, with a stronger result of 0.9403 posted on last Friday's closing breaking its previous record set in July.
NEWS to watch for in the coming week
Tuesday, September 9
The U.K. will publish data on industrial and manufacturing production along with a report accumulated on the data of trade balances. Another highlight of the day is coming from BoE Governor Mark Carney who will share his views in Manchester, USA.
Wednesday, September 10
BoE Governor Mark Carney with other monetary policy committee members will check up the reports of inflation and present the report highlighting economic outlook to the Parliament’s Treasury committee members.
Thursday, September 11
The U.S. will post its first weekly report commenting on its initial jobless claims.
Friday, September 12
U.S. will publish data on retail sales, accumulated by the government on the basis of measurement of consumer spending, which forms majority of overall economic activity. Another important report coming into picture is primary reports presenting consumer buying sentiments.
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