|Day's Range||0.143 - 0.143|
|52 Week Range||0.1392 - 0.1500|
The British pound is showing limited movement, after pushing above the 1.30 level on Thursday. Investors are keeping a close eye on U.S. retail sales reports, which will be released at 13:30 GMT.
The British pound remains close to the 1.30 level and could challenge this key line before the end of the week. Investors are keeping a close eye on U.S. consumer inflation releases, which will be published at 13:30 GMT.
Another low volatility day keeps the USD/CNY within a short-term bearish pattern. Key price levels are close by to help show the way.
The British pound continues to trade slightly below the key 1.30 level. The star performer on Tuesday is the New Zealand dollar, which has jumped over one percent following a hawkish rate statement from the New Zealand central bank.
The British pound is having a quiet week, but traders should be prepared for stronger movement, with the release of Preliminary GDP at 9:30 GMT. We’ll also get a look at manufacturing production, a key event.
USD/CNY weakens today while maintaining near-term uptrend price structure. Pattern still points to higher prices.
It was a week to forget for the pound, which fell over 2 percent. Investors are focused on fourth-quarter GDP, which will be released at 9:30 GMT.
Minor pullback on USD/CNY completed at 38.2% Fibonacci zone with one-day bullish reversal triggered. Higher prices seem most likely next.
It’s a busy day ahead. China’s trade data and German industrial production numbers will be in focus ahead of U.S stats later in the day.
It’s been quite a week for the majors. While the spread of the coronavirus continued, economic data out of the U.S impressed. it’s not over yet though…
The odds still favor an eventual bullish reversal for USD/CNY and resumption of the breakout of the falling trend channel that occurred on Monday.
British PMIs continue to point upwards, raising hopes that the British economy is on the road to recovery. On Thursday, Services PMI improved to 53.9 points, its highest level since September 2018.
The China coronavirus has severely disrupted China’s economy and is projected to take a bite out of global growth. If the economic damage worsens, the Federal Reserve could respond by trimming interest rates as early as this spring.
The pound has settled down and is trading slightly above the 1.30 level. British PMIs have looked good in January, as the manufacturing and construction PMIs have both accelerated.
Much of the talk around the China coronavirus has been on the economic damage to the Chinese economy. However, the outbreak will also take a bite out of the global economy, since China is a major player in international trade.
On Monday, the pound suffered its worst one-day drop since December 17, as the UK and EU clashed over free trade talks. If the two sides continue to bicker, sentiment towards the pound could continue to sour.
The British pound rallied after the BoE’s decision to maintain interest rates, but the currency is under pressure on Monday. The yuan has lost over 1 percent, as Chinese financial markets have reopened after for the first time in a week.
The pound is steady, as the markets await the BoE rate decision at 12:00 GMT. There is plenty of suspense in the air, as the bank’s move is too close to call. Australian and New Zealand dollars continue to lose ground, as investors remain nervous about the coronavirus.