The Pound is trying to recover. Overview for 04.12.2018


On Tuesday afternoon, GBPUSD is rising a little bit; today’s statistics help to eliminate yesterday’s decline. 

The British Pound is growing against the USD: it is using actual numbers to compensate yesterday’s fall. The current quote for the instrument is 1.2797.

The United Kingdom reported on the Construction PMI in November, which increased up to 53.4 points after being 53.2 points in October and against the expected reading of 52.5 points. As a result, the indicator in November and it was the best improvement over the last 4 months. The most possible reason for this was increase in jobs and new orders. 

By the way, the rate of job creation was the fastest since December 2015. The business optimism remained relatively subdued amid Brexit-related concerns.

As far as it goes, the construction sector has been improving for eight months in a row, which is a good signal for the economy.

The Brexit talks and everything that is connected to them make investors and the Pound worry a lot. However, as it happened rather often recently, fundamental news manage to overcome this issue and provide the Pound with support. 


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.