When will UK data be released and how could it affect GBP/USD?
The United Kingdom (UK) docket contains GDP and industrial production data for November which will be released by the Office for National Statistics (ONS) on Thursday, later this session at 07:00 GMT.
UK GDP is expected to rise 0.1% month-on-month in November, reversing from a 0.1% decline in October. UK industrial production may rise by 0.1% month-on-month in November, after a 1.1% increase in October. Meanwhile, annual production may fall by 0.4% in the same month, after a previous 0.8% decline. Read more…
GBP/USD Price Forecast: Eyes 9-day EMA barrier near 1.3450
The GBP/USD pair remains flat for the second session in a row, trading around the 1.3430 level during Asian business hours on Thursday. The 14-day Relative Strength Momentum Index (RSI) is at 51 (neutral) after pulling back from overbought readings, indicating balanced momentum.
The 50-day Exponential Moving Average (EMA) is rising, supporting the broader bias as GBP/USD holds above it. The nine-day EMA is slipping and capping the near-term recovery, indicating a modest loss of momentum. A decline across the short-term average would tilt the bias downward towards a flat floor, while a hold above it would keep declines in check and favor new tests of overall resistance. Read more…
GBP/USD rises as Fed independence threatens to hit dollar
The pound extended its gains on Wednesday as the US dollar was sanctioned by investors over threats to the Federal Reserve’s independence and verbal intervention by Japanese officials, strengthening the yen. The GBP/USD pair is trading at 1.3461, up by 0.30%.
The US dollar reversed course on Wednesday amid threats to the Federal Reserve’s independence by the Trump administration. On Sunday, Federal Reserve Chairman Jerome Powell revealed that the accusations are “pretexts” by a White House that is not happy that the central bank is setting interest rates “based on our best assessment of what will serve the public, rather than following the president’s preferences.” Read more…
