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On September 8th, U.S. Treasury Secretary Benson was interviewed by NBC News. He was asked, "During former President Bidens administration, the U.S. economy did add nearly 500,000 manufacturing jobs. Then, starting in April, manufacturing jobs began to decline again." Does this pose a problem for your policies? Benson replied that this week, they will receive a revised report for last year (covering the period from April of last year to the end of March of this year). And it could show a downward revision of up to 800,000 jobs. This would be the second downward revision. So, Im not sure the people who collect the data are doing a good job. Secondly, what were seeing is that the jobs being created are either going to native-born or legal U.S. citizens, while the majority of jobs created under the Biden administration are going to illegal immigrants.U.S. Special Envoy to Ukraine John Kellogg said on Sunday that Russias latest attack on Kyiv was not a sign it wanted a diplomatic end to the conflict. "Russia appears to be escalating, launching the largest attack on the Ukrainian Cabinet Office in Kyiv since the beginning of the war," he said.Mercedes-Benz CEO: The EU and the US are working to reduce tariffs on US car imports and hope to issue an executive order as soon as possible.On September 8th, local time, Bloomberg reported on the 7th that a U.S. Department of Homeland Security spokesperson said that federal immigration enforcement officers conducted raids in Boston, Massachusetts and surrounding communities, arresting dozens of people. Reuters also reported on the same day that the Trump administration also plans to conduct immigration enforcement against more businesses.Angola plans to launch its next round of oil licensing bidding in the fourth quarter to maintain crude oil production above 1 million barrels per day (bpd). This bidding round will be the final under a multi-year strategy launched in 2019 to grant 50 oilfield development rights to Africas third-largest crude producer. "Our goal is to achieve 1 million bpd next year," Minerals, Oil, and Gas Minister Diamantino Azevedo said in a statement on Sunday. "Most of our countrys oilfields have mature wells, and the solution is to find new reservoirs." This round of bidding is part of the governments efforts to attract investment in the oil industry. In July, Angolas daily crude oil production fell below 1 million bpd for the first time since its exit from OPEC in 2023.

Analysis of the GBP/USD exchange rate: the currency pair is unable to break through the important 1.2100 barrier

Alina Haynes

Jul 04, 2022 11:50

截屏2022-07-04 上午10.16.51.png 

 

The GBP/USD pair is aiming to exceed the potential barrier around 1.2106 in order to launch a bullish reversal from the rally. The pound bulls are hovering near the previously announced probable barrier from the Tokyo session's early hours.

 

The cable saw a significant purchasing response after hitting the two-week-old support of the 14-June low at 1.1970. When an asset's price moves in response to a buyer's bid, this usually indicates that the item is now a value bet. Currently, the likely resistance of Wednesday's low at 1.2106 is a significant hurdle for the pound bulls.

 

Closing at 1.2090, well above the 20-period Exponential Moving Average (EMA), reinforces the bullish filters in place. At 1.2115, the cable is also getting close to the 50-EMA resistance level. The pound bulls will be reinforced more, though, if they can sustain growth over the same level.

 

RSI (14) has moved into the 40.00-60.00 range, indicating that a consolidation is about to take place.

 

With a strong gain above the Monday high of 1.2122, the asset is poised to reach a new high for the week of 1.2188 on Friday. A breach of the latter level will catapult the cable to Tuesday's high of 1.2292.

 

Alternatively, the dollar bulls may return if the asset falls below Friday's low of 1.1976. A replay of the same occurrence will send the asset towards the round-number support at 1.1900, followed by a bottom of 1.1777 on March 26, 2020.


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