The GBP/USD exchange rate moved sideways after the strong US consumer confidence and housing data.
The pair was trading at 1.2400, which was a few points above this month’s low of 1.2306. Focus will now be on the US debt ceiling news and the upcoming Fed’s Beige Book.The GBP/USD pair moved sideways after the latest American consumer confidence and house price numbers. Data from Conference Board showed that the country’s consumer confidence dropped to 102.3 from the previous 103.7. This decline was better than the median estimate of 99.0.
On a year-on-year basis, the index jumped by 3.6%, higher than the estimated 2.4%. Therefore, despite the rising interest rates, these numbers mean that there is still more demand for houses in the US. Analysts believe that the Fed could decide to deliver another rate hike in June. Data published on Friday showed that the American PCE index jumped by 4.7% in May, This PCE is higher than the Federal Reserve target of 2.0%.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
GBP/USD Technical Analysis: Expectations Limited PerformanceIn light of a holiday in most markets, quiet or almost non-existent movements are expected for the price path of the GBP/USD currency pair.
Baca lebih lajut »
GBP/USD reverses part of the recent weakness and revisits 1.2370Despite the broad-based range bound theme in the global markets, GBP/USD manages to gather further upside impulse and revisit the 1.2370 region on Mon
Baca lebih lajut »
GBP/USD gains ground on US Dollar weaknessThe Cable trades with gains near the 1.2350 area and benefits from the positive market mood fueled by the announcement on Sunday regarding an agreeme
Baca lebih lajut »
GBP/USD Price Analysis: Cable prods 1.2360 immediate hurdle in search of further recoveryGBP/USD Price Analysis: Cable prods 1.2360 immediate hurdle in search of further recovery GBPUSD Technical Analysis ChartPatterns SupportResistance TrendFollowing
Baca lebih lajut »
GBP/USD Price Analysis: Defends downside near 1.2340 as BoE to raise rates furtherThe GBP/USD pair has rebounded after defending its downside near the crucial support around 1.2340 in the early European session. The Cable has shown
Baca lebih lajut »
GBP/USD: Outlook keeps pointing to further losses – UOBExtra decline remains on the cards for GBP/USD in the next few weeks, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser L
Baca lebih lajut »