Slowing economic growth in the UK and bets that the Bank of England will not be as aggressive as the Fed during its tightening cycle are likely to weigh on GBP/USD in the near term. The intra-day and the daily price is on bearish breakdown by crossing symmetric triangle pattern to below for the primary bearish trend to be continuing. more...
UK retail sales declined more than expected in March and the falling trend is likely to continue as consumer confidence fell near record low in April amid rising inflation and interest rates. Retail sales dropped 1.4 percent on a monthly basis, largely due to the 7.9 percent fall in non-store retailing. more...
The latest Office for National Statistics (ONS) inflation release showed headline inflation hitting 6.2% in February, a fresh 30-year high, while core inflation rose to 5.2% from 4.4% in January. And even higher levels of inflation are expected in Q2 this year. The latest BoE monetary policy release shows that the UK central bank expect headline inflation to top 8% in the coming months, citing sky high energy and food prices as the main drivers of the ...
The near term outlook remains bullish for the US Dollar as rate differentials continue to move in favour of the greenback. By the way, the daily GBP/USD price is on secondary ranging located near and below monthly Pivot level (monthly PP) at 1.3218 and above S1 level at 1.2999. - If the daily price breaks monthly PP level at 1.3218 to above so the daily bullish reversal will be started. - If the daily price breaks S1 level to below so the ...
The Bank of England (BoE) is expected to raise UK interest rates further in the second quarter of 2022 as the UK central bank tries to stem soaring prices pressures. The BoE has already lifted the Bank Rate to 0.75% from 0.1% in late 2021 and money markets are currently pricing in 125 basis points of additional rate hikes this year. The latest Office for National Statistics (ONS) inflation release showed headline inflation hitting 6.2% in February, a ...
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