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  • The British pound peaked at 1.6841 US overnight, the highest level since 2009, as stronger than forecast employment data fueled speculation of an early rate hike. By the morning, the GBPUSD pair was trading at 1.6818, recovering from an intraday low of 1.6795. Sterling soared Wednesday after the Office for National Statistics said UK jobless

  • Sergiy Zlyvko

    The dollar index, EURUSD and USDCHF during the three trading sessions adhered to the basic scenario. GBPUSD rate has deviated from the forecast due to the strong labor market data in the UK. Its rise to the level of 1.6815 changed the technical picture for other currency pairs. With high demand for the British pound,

  • Sergiy Zlyvko

    Mario Draghi’s statements, sounded over the weekend gave the dollar an upward momentum. After the publication of the American Statistical dollar index touched the highest point and moved sideways. Index of retail sales in the U.S. in March was 1.1% compared with a forecast of 0.8% and 0.7% of the previous value (revised from 0.3%).

  • H.S. Borji

    Tuesday’s inflation report kicks off an active week for the British pound, which retraced most of its losses Monday after falling to a session low of 1.6697 US. UK inflation eased to 1.7 percent annually in February, the Office for National Statistics reported last month. Consumer inflation in January fell below the Bank of England’s

  • H.S. Borji
    Forex » No Policy Change Expected at BOE
    H.S. Borji - April 9, 2014, 19:21 GMT

    The Bank of England is expected Thursday to keep monetary policy unchanged, as accommodation is still needed to nurse the UK economy back to health. The nine-member Monetary Policy Committee voted unanimously last month to keep interest rates at 0.5 percent and the pace of quantitative easing at £375 billion. The Bank rate has held

  • H.S. Borji

    The National Institute of Economic and Social Research will provide an estimate of UK first quarter GDP growth Tuesday. The estimate provides a useful benchmark in which to assess the three-month performance of the UK economy ahead of the official data. The UK economy expanded 0.8 percent in the fourth quarter, and 1.8 percent in

  • H.S. Borji

    The UK manufacturing industry had a solid first quarter, despite cooling somewhat from the near-record growth rates seen in the second half of 2013. Increased production and new business continued to drive recovery, with February experiencing the fastest pace of job creation in 33 months, according to Markit Group. The Office for National Statistics will

  • Sergiy Zlyvko

    On Wednesday, after trading dollar index closed with an increase. EURUSD, USDCHF and dollar index were fluctuating perfectly according to forecast scenarios. GBPUSD was unable to achieve the estimated target as customers have been provided by good support from EURGBP cross-rate reduction. Today is saturated by the news. So, the key event will be Thursday’s

  • Sergiy Zlyvko

    DXY, EURUSD and USDCHF dynamics met our forecast scenarios. Due to divergent oscillations between major pairs, dollar index is trading near 80.10 mark. Evening report showed growth of business activity in the U.S. manufacturing sector in relation to the previous month, but the index remained below predicted value. According to published data, in February ISM

  • H.S. Borji

    UK construction activity probably remained elevated in March, according to a broad consensus of market analysts eyeing Wednesday’s PMI data. Markit Group is scheduled to report on UK construction activity Wednesday. The monthly reading is expected to narrowly top February’s high of 62.6, according to economists polled by Reuters. The UK construction sector hit a