GBP/USD surrenders modest intraday gains, hangs near daily low ahead of Powell’s testimony – by hareshmenghani GBPUSD RiskAppetite Recession Fed Currencies
Recession fears, hawkish Fed expectations act as a tailwind for the USD and cap gains.The GBP/USD pair
struggles to capitalize on its intraday positive move to a four-day peak and meets with a fresh supply near the 1.2065 region on Tuesday. Spot prices retreat to the lower end of the daily range, around the 1.2020-1.2015 region during the first half of the European session and remain at the mercy of the US Dollar price dynamics.
A generally positive tone around the equity markets, along with retreating US Treasury bond yields, initially weighed on the safe-haven Greenback and offered some support to the GBP/USD pair. That said, looming recession risks continue to keep a lid on any optimistic move in the markets.
higher for longer in the wake of stubbornly high inflation. The bets were reaffirmed by the incoming US macro data, which indicated that inflation isn't coming down quite as fast as hoped and pointed to an economy that remains resilient despite rising borrowing costs. Moreover, a slew of FOMC policymakers recently backed the case for higher rate hikes and opened the door for a 50 bps lift-off at the March meeting.
deal on the Northern Ireland Protocol further seems to hold back the bullish traders from placing fresh bets around the major. is already fully priced in the markets. Moreover, some analysts still hope that the UK central bank would pause the current tightening cycle. This, in turn, suggests that the path of least resistance for the GBP/USD pair is to the downside and any meaningful upside could be seen as a selling opportunity.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
GBP/USD: Weekly Forecast 5th March - 11th MarchThe GBPUSD went into the weekend near the 1.20430 ratio after a rather choppy and nervous display of trading the entire week- Forex Trading FX Money Markets
Leer más »
GBP/USD Price Analysis: Cable retreats towards resistance-turned-support near 1.2000GBP/USD Price Analysis: Cable retreats towards resistance-turned-support near 1.2000 GBPUSD Technical Analysis ChartPatterns SwingTrading SupportResistance
Leer más »
Pairs in Focus This Week \u2013 GBP/USD, EUR/USD, Gold, USD/JPYGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of march 5th, 2022 here.
Leer más »
GBP/USD consolidates in a range, holds steady above 1.2000 mark amid softer USDThe GBP/USD pair struggles to capitalize on Friday's goodish rebound from a technically significant 200-day Simple Moving Average (SMA) and kicks off
Leer más »
GBP/USD expected to trade within 1.1925-1.2120 – UOBAccording to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD is expected to trade between 1.1925 and 1.2120 in the sh
Leer más »
GBP/USD: Potential descending triangle could be forming with support at 1.1920 levels – OCBCGBP/USD consolidated last week. Economists at OCBC note that a move below the 1.1920 area could confirm a descending triangle, opening up next support
Leer más »