GBP/USD TECHNICAL OUTLOOK : 16.3.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
GBP/USD Pair after Opening at 1.2151 made low of 1.2143 and had a strong trend on the on the upsie after violating the levels of 1.22 now trading above the levels of 1.22 levels if sustain likely to see higher levels but during the day the pair is likely to trade volatile 1.2200-1.2320
Fundamental Overview
With the UK Unemployment falling short of expectations, attaining a new cycle low and a disappointment from the earnings data along with the ex-bonus average household income ebbing to a growth rate of 2.2% y/y in the three months to January, down from 2.6% previously, the sterling ebbed back under 1.22 losing on the early gains yesterday. The tumble in Sterling took on the back of soft pay numbers, which comes with inflation rising and adds to signs that consumer-driven economic growth is in stagnation. This in turn raises the chances for BoE guidance to take a dovish turn at today's meeting, although most participants still anticipate the central bank will retain a neutral policy stance. The late recovery in GBP against USD taking it above 1.2250 is completely a FED driven rally.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
17:30 GBP BoE MPC vote cut (Mar) 0 0
17:30 GBP BoE MPC vote hike (Mar) 0 0
17:30 GBP BoE MPC vote unchanged (Mar) 9 9
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Free Commodity Tips : Join our Whatsapp No : 9094047040 GBP/USD Pair after Opening at 1.2151 made low of 1.2143 and had a strong trend on the on the upsie after violating the levels of 1.22 now trading above the levels of 1.22 levels if sustain likely to see higher levels but during the day the pair is likely to trade volatile 1.2200-1.2320
Fundamental Overview
With the UK Unemployment falling short of expectations, attaining a new cycle low and a disappointment from the earnings data along with the ex-bonus average household income ebbing to a growth rate of 2.2% y/y in the three months to January, down from 2.6% previously, the sterling ebbed back under 1.22 losing on the early gains yesterday. The tumble in Sterling took on the back of soft pay numbers, which comes with inflation rising and adds to signs that consumer-driven economic growth is in stagnation. This in turn raises the chances for BoE guidance to take a dovish turn at today's meeting, although most participants still anticipate the central bank will retain a neutral policy stance. The late recovery in GBP against USD taking it above 1.2250 is completely a FED driven rally.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
17:30 GBP BoE MPC vote cut (Mar) 0 0
17:30 GBP BoE MPC vote hike (Mar) 0 0
17:30 GBP BoE MPC vote unchanged (Mar) 9 9
