06 Diciembre 2024, GBP/USD
Event to pay attention to today:
15:30 EET. USD - Unemployment Rate
GBPUSD:
The GBP/USD pair fluctuated within a range below the mid-1.2700s during the Asian session on Friday and consolidated its recent gains recorded over the past three days to the more than three-week high reached the day before. Traders seem reluctant to make aggressive bets right now and prefer to wait for the release of important monthly US employment data today.
The popular Nonfarm Payrolls (NFP) report will influence the outlook for US interest rates and guide Federal Reserve (Fed) policymakers on the next policy decision at the December meeting. This, in turn, will help determine the near-term trajectory of the US Dollar (USD) and provide meaningful momentum to the GBP/USD pair. Meanwhile, the recent decline in US Treasury yields is not helping the USD attract meaningful buyers or recover from multi-week lows.
That said, expectations that the US central bank will take a cautious stance on rate cuts, amid expectations that US President-elect Donald Trump's policies will boost inflation, act as a tailwind for the dollar. In addition, a softer tone on risks and ongoing geopolitical tensions are contributing to the strength of the US Dollar. This, along with Bank of England (BoE) Governor Andrew Bailey's announcement of four interest rate cuts in 2025, is deterring traders from placing bullish bets on the British Pound (GBP) and depressing GBP/USD.
Trading recommendation: Watch the level of 1.2750, when fixing above consider Buy positions, when rebounding consider sell positions.
FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes!
en 
id 
ar 
ru 
vn 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 