GBP/USD 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 1.2554, Sterling inches to 1.2569 (up 14 pips)

(22:00) GMT

A mostly flat day so far for GBP/USD, ranging between 1.2574 and 1.2512 and is now at 1.2569.

This move comes while some more positive signs for Sterling are out as United Kingdom Unemployment comes out at 3.9%, while the projection was 4.2%.

Despite this, other data released earlier might suggest a different path 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 Thursday 6:00 AM.

At the same time looking at other markets some moves suggest a different direction Pound/Yen dropped -0.13% (17 pips) to 134.468. Euro/Pound is trading around 0.9099 (up 20 pips).

Jul. 16, 2020

British Pound is trading around 1.2553 after starting the day at 1.2586 (down -0.26%)

(22:00) GMT

GBP/USD remains in the 1.2553 range after starting the session at 1.2586 and dropping 32 pips.

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. 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.

Taking a wider perspective, performance of these other symbols usually suggest a setback for Sterling as Euro/Pound is trading around 0.9064 (up 32 pips).

At the same time, interesting moves noted elsewhere when With no major change Pound/Yen is trading around 134.639.

Jul. 15, 2020

After starting the day at 1.2559, Pound drifts to 1.2589 (up 29 pips)

(22:00) GMT

GBP/USD gains 29 pips and hovers at 1.2589 level.

Sterling green move comes while some more encouraging signs are out 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 Consumer Price Index was released today at 6:00 AM comes out at 0.6%, beating projections of 0.4% and showing improvement over the preceding figure 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%.

At the same time looking at other markets some moves suggest a different direction Euro/Pound is trading around 0.9063 after starting the session at 0.8949 (down 1.27%). Pound/Yen lost 32 pips from the start of the session, trading at 134.604 levels.


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Jul. 14, 2020

Pound/Dollar is trading around 1.2557

(22:00) GMT

A mostly flat day so far for GBP/USD, ranging between 1.2559 and 1.255 and is now at 1.2557.

This in-between state for Sterling 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. United Kingdom Retail Sales released Monday 11:01 PM with a figure of 10.9%, this is better from previous number of 7.9%.

Meanwhile, mixed performance are seen elsewhere as Euro/Pound is trading around 0.9075 (up 125 pips). Pound/Yen dropped -0.2% (26 pips) to 134.663.

Jul. 13, 2020

After starting the day at 1.2627, British Pound goes down to 1.2555 (down 71 pips)

(22:00) GMT

GBP/USD remains in the 1.2555 range after starting the session at 1.2627 and dropping 71 pips.

This downslide might be related to financial indicators data published earlier as United States Budget Balance fall short of the -863.0B projections, with -864.0B and continued its downward trajectory from previous figure of -399.0B. Data for United States 3-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.145%, while previous data was 0.150%.

Taking a wider perspective, performance of these other symbols usually suggest a setback for Sterling as Euro/Pound is trading around 0.9032 after starting the session at 0.895 (down 0.92%). Pound/Yen lost 32 pips from the start of the session, trading at 134.651 levels.

Looking ahead, this trend may be prolonged as Tomorrow at 6:00 AM data for Claimant Count Change (Jun) will be released, with an expected decline to 400.0K from the preceding figure of 528.9K.

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