Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Pound is slowly recovering. Overview for 29.06.2016
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back




The Pound is slowly recovering. Overview for 29.06.2016

29.06.2016
The GBP/USD pair is moving upwards a little bit after plummeting last week.

The British Pound is slowly coming to terms with new reality. You can’t just leave the European Union with a bang, it requires time and strategy. That’s why capital markets have an opportunity to consider revised perspectives without haste. The current quote for the instrument is 1.3443; the daily growth is 0.7%.

The statistics published today indicated that the mortgage parameters in the UK increased significantly in May. The number of approved mortgage applications in May was 67,042 thousand against 66,205 thousand in April. The consumer crediting in May increased by 9.9% y/y and this is the fastest growth over 11 years.

It appears that the Brits weren’t too worried about the referendum, because in May, hardly anybody expected that the country’s population would vote to leave the Union. And now, when everyone knows the referendum results, George Osborne, the Chancellor of the Exchequer, place a particular emphasis that the real estate market may “cool down”.

Among the news published earlier, one should pay attention to the reduction of the UK’s rating by the leading credit agencies. The Pound, which updated 31-year lows earlier, barely noticed ii.

Anyhow, right now the market is looking at the statistics or external information through the prism of the Brexit. If it is a new reality, then it’s not the worst thing that could have happened.
 
RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.

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.