GBP/USD Weekly Forecast: Another dollar surge? US inflation could outweigh Omicron, UK GDP
Time to retire “transitory” – these hawkish words by Federal Reserve Chair Jerome Powell when referring to inflation have served as the tiebreaker in favor of the dollar. Fears of the Omicron covid variant have been intermixed with hope that it isn’t as scary as initially thought. Apart from the virus, US inflation and UK GDP stand out. Read more…
-637741243638037600-637741637446828751.png)
GBP/USD Forecast: Technicals turn bearish ahead of US jobs report
GBP/USD has managed to snap a three-day losing streak on Thursday but failed to hold above 1.3300 as the greenback started to gather strength early Friday. The technical outlook seems to have turned bearish with key resistance levels staying intact. Later in the day, the US Bureau of Labor Statistics will release the November jobs report. Investors forecast Nonfarm Payrolls (NFP) to rise by 550,000 following October’s increase of 531,000. Read more…
GBP/USD slides for the fourth day in the week meanders around 1.3230s
The British pound pares Thursday’s gains and some more, is down some 0.50%, trading at 1.3232 during the New York session at the time of writing. A risk-off market mood prompted investors to drop anything with the word “risk” attached to it, benefitting safe-haven assets. In the FX market, the USD, the JPY, and the CHF are the most aided of the abovementioned and are the stronger currencies as we approach the Wall Street close. Read more…