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GBP/USD: Higher than expected wage growth push the GBP up - Scotiabank
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GBP/USD: Higher than expected wage growth push the GBP up - Scotiabank
New
2024.12.17 23:55
2024.12.17 23:55
2024.12.17 23:55
UK labour market data reflected a larger than expected jump in Average Weekly Earnings in October (to 5.2%, from 4.4%) while ex-bonus pay also rose (5.2%, from 4.9%), Scotiabank's Chief FX Strategist Shaun Osborne notes, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP adds to Monday's gains
"Unemployment was unchanged at 4.6% while jobless claims were all but flat. Higher wage growth--the first pickup in a year--has tempered prospects for BoE rate cuts in 2025, with the first full 25bps ease priced out of the March swaps contract and pushed to May. Sterling has firmed modestly against the USD and picked up a bit more ground again versus the EUR."
"The Pound Sterling (GBP) traded positively yesterday, forming a bullish engulfing line on the daily candle. Spot gains have extended marginally so far today but the pound is having some trouble holding gains above 1.27. A push through 1.2710/15 is needed to see a little more upside momentum towards 1.2750/75 develop. Support is 1.2665 and 1.2610."
Last updated
: 2024.12.17
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USD/JPY retreats to 156.50 after reaching multi-month highs on softer US PCE data
The USD/JPY pair pulled back from its highest levels since July, retreating to 156.50 following the release of US Personal Consumption Expenditure (PCE) data.
2024.12.21 06:41Australian Dollar holds near 0.6200 after PCE data from the US
The Australian Dollar consolidates around 0.6200 on Friday as traders digest November's US Personal Consumption Expenditures (PCE) inflation data.
2024.12.21 05:12US Dollar eases amid profit-taking and year-end positioning
The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, took a hit after soft Personal Consumption Expenditures (PCE) data was released during the European session.
2024.12.21 03:30EUR/USD Price Analysis: Slight end-of-week rebound fails to break key resistance
After suffering a sharp drop of more than 1% on Wednesday, the EUR/USD managed a minor rebound by the end of the week, adding 0.28% to trade near 1.0395 on Friday.
2024.12.21 01:00GBP/USD rebounds towards 1.2540 following US inflation data and BoE decision
The GBP/USD pair rebounded towards 1.2540 after the release of US inflation data and the Bank of England's (BoE) monetary policy decision on Thursday.
2024.12.21 00:26Fed's Goolsbee: My projections were for a little more shallow rate-path in 2025
In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said that they are still on a path to get to 2% inflation, adding that it was 'nice' to get an inflation number that's better than expected.
2024.12.21 00:24Fed's Hammack: Rate cut was a close call, favored holding steady
In a statement released on Friday, Federal Reserve Bank of Cleveland President Beth Hammack noted that she dissented because the data supported holding the policy rate steady, per Reuters.
2024.12.20 23:09GBP/JPY Price Forecast: Slumps as UK Retail Sales misses estimates
The GBP/JPY pair is down almost 0.4% to 196.00 in Friday's North American session.
2024.12.20 22:41Breaking: US core PCE inflation holds steady at 2.8% in November vs. 2.9% expected
Inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged higher to 2.4% on a yearly basis in November from 2.3% in October, the US Bureau of Economic Analysis (BEA) reported on Friday.
2024.12.20 22:31GBP/USD holds break below major trend support at 1.2520 - Scotiabank
The Pound Sterling (GBP) is flat on the session. UK Retail Sales rose a softer than expected 0.2% in November (versus +0.5% forecast), extending a run of disappointing Retail Sales data, Scotiabank's Chief FX Strategist Shaun Osborne reports.
2024.12.20 22:26Disclaimer:
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