Pound Climbs Amid Risk Appetite On Upcoming US-China Trade Talks
04 Gennaio 2019 - 7:11AM
RTTF2
The pound gained ground against its major counterparts in the
European session on Friday amid risk appetite, as the U.S. and
China planned fresh trade talks next week and a private survey
showed growth in the Chinese service sector accelerated to a
six-month high in December, helping ease global growth worries.
Chinese slowing growth is having an impact on Apple and other
American companies, but sales should recover once Washington
strikes a trade deal with Beijing, a senior White House adviser
said.
Survey data from IHS Markit showed that U.K. service sector
activity expanded more than forecast in December.
The CIPS Purchasing Managers' Index, or PMI, rose to 51.2 from
50.4 in November. Economists had forecast a score of 50.7.
Meanwhile, data from the Nationwide Building Society showed that
UK house price inflation slowed sharply in December to its weakest
level since early 2013, as buyer confidence eroded amid the
persistent uncertainties linked to Brexit.
The house price index rose 0.5 percent year-on-year following a
1.9 percent increase in November. Economists had forecast a 1.5
percent increase.
The currency has been trading higher against its major opponents
in the Asian session.
The pound appreciated to a 2-day high of 1.2682 against the
greenback, following a decline to 1.2616 at 7:00 pm ET. The pound
is likely to find resistance around the 1.28 level.
The pound bounced off to 136.98 against the yen, from a low of
135.81 hit at 7:00 pm ET. The pound is seen finding resistance
around the 138.00 region.
The pound firmed to a 2-day high of 1.2533 against the franc,
reversing from a low of 1.2451 seen at 5:00 pm ET. If the pound
rises further, 1.27 is possibly seen as its next resistance
level.
Having dropped to 0.9030 against the euro at 7:00 pm ET, the
pound changed direction and advanced to a 4-day high of 0.8981. The
next possible resistance for the pound is seen around the 0.88
level.
Data from Eurostat showed that Eurozone's consumer price
inflation slowed more-than-expected in December to its lowest level
in eight months.
The consumer price index rose 1.6 percent year-on-year following
a 1.9 percent increase in November. Economists had forecast 1.8
percent inflation.
Looking ahead, U.S. and Canadian jobs data for December are
scheduled for release in the New York session.
At 10:15 am ET, Federal Reserve Chair Jerome Powell participates
in a panel discussion titled "Federal Reserve chairs: Joint
Interview" at the American Economic Association's Annual Meeting in
Atlanta.
At the same time, Federal Reserve Bank of Atlanta President
Raphael Bostic will participate in a panel discussion titled "The
Future of Traditional Banking" at the American Economic
Association's Annual Meeting in Atlanta.
Grafico Cross Sterling vs US Dollar (FX:GBPUSD)
Da Mar 2024 a Apr 2024
Grafico Cross Sterling vs US Dollar (FX:GBPUSD)
Da Apr 2023 a Apr 2024