The Pound is still moving inconsistently. Overview for 19.01.2017

The GBP/USD pair is moving upwards on Thursday after rather volatile trading session the day before.

On Thursday, the British Pound is strengthening against the USD. The current quote for the instrument is 1.2323.

During her speech at the WEF Annual Meetings in Davos, Theresa May, the Prime Minister of the United Kingdom, said that she understood full well that the “road” of exiting the EU would be very difficult for the country, but the future outside the Union, according to her words, would be better. She also talked about the future uncertainty, which was rather reasonable, as no one knew for sure how the Brexit procedure would be going and what traps and pitfalls it might encounter.

May said that the main goals of the United Kingdom in their process of exiting the EU were the protection of the country’s economy, business, and trade. The country would “control its fate by itself”. Because there was nothing really scary for the Pound in her words, the GBP/USD pair started recovering after yesterday’s sales.

Today’s report from the Royal Institution of Chartered Surveyors showed that the RICS Housing Price Balance, seasonally adjusted, in December expanded by 24 points after adding 29 points in the previous month and against expectations of 32 points. By the way, the November reading was revised to the worse, the initial number was 30 points. The report also contains rather curious information about the amount of Chartered Surveyors – right now, it is close to all-time lows. It’s difficult to draw a firm conclusion about this, but there is a strong possibility that these numbers indicate a slow decrease of the buyer interest in the real estate.

RoboForex Analytical Department