GBP/JPY Weekly Analysis (week of 13-17/07)

United Kingdom Retail Sales set for today at 6:00 AM.

Jul. 17, 2020

After starting the day at 134.62, Pound/Yen nudges to 134.45 (down 17 pips)

(20:00) GMT

GBP/JPY slides down from 134.62 to 134.45, taking a 17 pips loss (-0.13%).

This downslide might be related to financial indicators data published earlier as United Kingdom Claimant Count Change (Jun) fall short of the 250.0K projections, with -28.1K and continued its downward trajectory from previous figure of 566.4K. Data for United Kingdom Money Supply was released Thursday 6:00 AM is better than expected with -0.3%, but worse than previous figure of 1.0%.

In contrast, positive data for Pound/Yen reported earlier when United Kingdom Unemployment released Thursday 6:00 AM with a figure of 3.9%, while the previous figure was 3.9%.

Taking a wider perspective, performance of these other symbols usually suggest a setback for Pound/Yen as Euro/Pound is trading around 0.91 after starting the session at 0.9031 (down 0.76%).

Positive performance can be seen looking at other symbols as Sterling made some headway from 1.256 to 1.26 (0.32%, 40 pips).

Jul. 16, 2020

Pound/Yen hovers around 134.64

(22:00) GMT

A mostly flat day so far for GBP/JPY, ranging between 134.68 and 134.61 and is now at 134.64.

This limbo state for Pound/Yen is reflected by market data published as United Kingdom Claimant Count Change (Jun) fall short of the 250.0K projections, with -28.1K and continued its downward trajectory from previous figure of 566.4K. While down from preceding data of 1.0%, United Kingdom Money Supply is better than expected at -0.3% according to new data released today at 6:00 AM. While down from preceding data of 6K, United Kingdom Employment Change is better than expected at -125K according to new data released today at 6:00 AM.

Meanwhile, mixed performance are seen elsewhere as Euro/Pound is trading around 0.91 (up 69 pips). Pound/Dollar went up from 1.256 to 1.26 (0.32%, 40 pips).

Jul. 15, 2020

Pound/Yen is trading around 134.6

(22:00) GMT

A mostly flat day so far for GBP/JPY, ranging between 134.61 and 134.57 and is now at 134.6.

This in-between state for Pound/Yen is reflected by market data published as United Kingdom Gross Domestic Product released earlier shows an improvement to 1.8% from the preceding data of -20.4%, but falls short of the projected 5.5%. United Kingdom Consumer Price Index beats expectations of 0.4% with new data release of 0.6%. This is also a step forward from the previous data of 0.5%. United Kingdom Producer Price Index released earlier shows an improvement to 2.4% from the preceding data of 0.9%, but falls short of the projected 3.0%.

Meanwhile, mixed performance are seen elsewhere as Euro/Pound is trading around 0.91 (up 151 pips). Pound dropped -0.21% (26 pips) to 1.26.


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Jul. 14, 2020

Pound/Yen hovers around 134.66

(22:00) GMT

A mostly flat day so far for GBP/JPY, ranging between 134.68 and 134.58 and is now at 134.66.

This limbo state for Pound/Yen is reflected by market data published as United Kingdom Gross Domestic Product released earlier shows an improvement to 1.8% from the preceding data of -20.4%, but falls short of the projected 5.5%. New data for United Kingdom Trade Balance was released today at 6:00 AM comes out at -2.81B, beating projections of -8.10B and showing improvement over the preceding figure of -4.80B. Japan Money Supply released earlier shows an improvement to -8.9% from the preceding data of -9.8%, but falls short of the projected -8.4%.

Meanwhile, mixed performance are seen elsewhere as Euro/Pound is trading around 0.91 after starting the session at 0.8949 (down 1.69%). Pound lost 26 pips from the start of the session, trading at 1.26 levels.

Jul. 13, 2020

After starting the day at 134.93, Pound/Yen nudges to 134.65 (down 28 pips)

(22:00) GMT

GBP/JPY slides down from 134.93 to 134.65, taking a 28 pips loss (-0.21%).

On the flip side, positive data for Pound/Yen released earlier when Japan Tertiary Industry Activity Index (MoM) released today at 4:30 AM with a figure of -2.1%, this is better from previous number of -7.7%.

Taking a wider perspective, performance of these other symbols usually suggest a setback for Pound/Yen as Euro/Pound is trading around 0.9 (up 50 pips). British Pound lost 23 pips from the start of the session, trading at 1.26 levels.

Looking ahead, this trend may be prolonged as Projections for United Kingdom Claimant Count Change (Jun) are set for a continuation of decline with 400.0K while previous data was 528.9K, data will be released tomorrow at 6:00 AM.

Market will keep its eye on United Kingdom Gross Domestic Product set for tomorrow at 6:00 AM.

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