Created
: 2024.09.04
2024.09.04 22:40
UK final August Services and Composite PMI data were revised modestly higher to 53.7 and 53.8 (from 53.3 and 53.4 respectively), Scotiabank's Chief FX Strategist Shaun Osborne notes.
"Details were constructive as well. Improved sentiment is boosting spending and hiring, the surveys suggest. Somewhat stronger economic momentum will not stop BoE rate cuts but the process of easing is likely to be relatively slower than the Bank's major central bank peers. Sterling is virtually unchanged on the session today."
"A narrow, inside range is potentially developing on the daily chart while the intraday chart suggests the pound is trying to break above the short-term bear trend (1.3105) off of last week's high for Cable. A break above 1.3155 would add to near-term momentum for the pound. Support is 1.3090/00."
Created
: 2024.09.04
Last updated
: 2024.09.04
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy