The pound is being pulled down
17.12.2015
The GBP/USD pair traded with a marked decline for the fourth day in a row, a natural response to the external background.
The British Pound continues to become cheaper. The GBP/USD pair is around 1.4960, and the sales in the instrument are continuing for the fourth day in a row and are of quite noticeable character. Of course, the weight has culminated with the December meeting of the US Federal Reserve and the decision to increase rates and the logical reaction of the dollar and the oil market to this. The pound, like other traded currencies came under pressure, and that's fine.
The British statistics look pretty good. It became known today that retail sales in the UK in November rose by 1.7% m/m against the forecast of growth by 0.5% m/m, and yearly grew by 5.0% with the expectations of growth of 3 0% y/y. This is a very good and productive report.
Yesterday statistics on the employment market in the country was published. The unemployment rate in the UK for the three months ending in October was 5.2%, and that is the minimum of recent times. Economists did not expect the changes to the previous level of 5.3%. Employment now stands at 73.9%, which is the maximum value of the indicator on record.
The average wage in Britain gained 2.4% y/y during the reporting period. This is slightly lower than the previous rate of growth, but also good.
It turns out that within its borders the pound is doing pretty well. The pressure is coming from the outside, and it is almost impossible to escape it.
RoboForex Analytical Department
The British Pound continues to become cheaper. The GBP/USD pair is around 1.4960, and the sales in the instrument are continuing for the fourth day in a row and are of quite noticeable character. Of course, the weight has culminated with the December meeting of the US Federal Reserve and the decision to increase rates and the logical reaction of the dollar and the oil market to this. The pound, like other traded currencies came under pressure, and that's fine.
The British statistics look pretty good. It became known today that retail sales in the UK in November rose by 1.7% m/m against the forecast of growth by 0.5% m/m, and yearly grew by 5.0% with the expectations of growth of 3 0% y/y. This is a very good and productive report.
Yesterday statistics on the employment market in the country was published. The unemployment rate in the UK for the three months ending in October was 5.2%, and that is the minimum of recent times. Economists did not expect the changes to the previous level of 5.3%. Employment now stands at 73.9%, which is the maximum value of the indicator on record.
The average wage in Britain gained 2.4% y/y during the reporting period. This is slightly lower than the previous rate of growth, but also good.
It turns out that within its borders the pound is doing pretty well. The pressure is coming from the outside, and it is almost impossible to escape it.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.