GBP/USD turns negative, with bears eyeing 1.2000 below the 100-DMA GBPUSD Majors Macroeconomics
would keep traders focused on the busiest docket in the United States . At the time of writing, the GBP/USD is trading at 1.2019.As abovementioned, risk sentiment is a mixed bag. The UK economic calendar will reveal the
on Friday, ahead of the Bank of England’s March 23 meeting. The US economic docket will feature Factory Orders for January, foreseen to fall to -1.8%, below the prior’s month reading of 1.8%.Dollar Index , a gauge of the buck’s value vs. a basket of six currencies, extended its losses, by 0.14%, at 104.380. Meanwhile, US Treasury bond yields, which underpinned the USD last week’s price action, are down, with the 10-year benchmark note rate below 4%, at 3.950%.
The week could be volatile due to US Federal Reserve Chairman Jerome Powell’s appearance at the US Congress on March 7 and 8. Analysts expect Powell to maintain a hawkish stance, echoing some of his colleague’s tone. He’s expected to reiterate that interest rates must go higher for longer if the US economy continues to print solid data.figures are awaited on Friday. Market participants estimate the US economy added 200K jobs to the economy.
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