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GBP/USD breaks above 1.61 amid USD weakness

FXStreet (Bali) - GBP/USD is presently recovering off 1.60 lows, printed in the last NY session on Friday, with buyers in Asia breaching the 1.61 level amid broad-based USD strength.

This week, the main focus for Sterling traders will be the UK Sept CPI and employment data. According to RBS, "September CPI may underwhelm, consistent with the September BRC Shop Price Index showing price inflation at its lowest levels on record: Meanwhile, UK employment may show continued sluggishness in wage inflation."

Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "In the 4h chart a mild bearish tone prevails as per 20 SMA standing flat above current price and indicators turning south right below their midlines."

EUR: Re-test of the 2012 and 2010 lows likely - JPMorgan

The EUR bears are in full control for a potential re-test of the 2012 and 2010 lows, a scenario that has become likely, notes Thomas Anthonj, FX Strategist at JP Morgan.
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NZ housing market slowing, nothing to scare the horses - BNZ

Craig Ebert, Senior Economist at Bank of New Zealand, reviews today's NZ REINZ House Price Index (MoM), which came at 0.2% in September vs 1.1% prior, noting that while there is evidence of a slow, to slowing, housing market, it’s nothing too dramatic amid LVR restrictions.
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