EUR/USD 1.13628
0.435%
Gold 3415.24
2.437%
Oil 59.028
3.625%
USD/JPY 142.514
-0.827%
GBP/USD 1.33643
0.515%
GBP/JPY 190.466
-0.274%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Karen Manna of Federated Hermes said on May 7 that Federal Reserve Chairman Powell may not be able to satisfy investors thirst for clarity when he speaks to reporters after tomorrows interest rate decision. The Fed is expected to keep interest rates unchanged, and Powell may face questions about the impact of tariffs on inflation and the economy. The final level of tariffs and their duration remain unknown, which limits Powells ability to provide more clear information. "Forecasting is always difficult, and it is almost impossible to make forecasts when the target is constantly changing." She expects this uncertainty to continue until the Feds June meeting unless there are substantial changes.Pakistans Defense Minister: Conflict between Pakistan and India is "imminent".On May 7, according to British officials and documents, Britain is pressuring the European Union to more clearly support Britains participation in a 150 billion euro defense fund, after the first draft of the proposed security agreement basically did not mention this request. British Prime Minister Starmers government hopes to have firmer words on defense industry cooperation and joint fight against illegal immigration. The two sides are striving to reach an agreement before the London summit scheduled for May 19. British officials said they will work with the European Union in the coming days to draft a final document to send a stronger message on the ambitions of defense industrial policy. Although the draft mentioned exploring the possibility of both sides participating in their respective defense plans, it did not mention Britains goal of obtaining a 150 billion euro fund, nor did it explain how to achieve this goal.The Federal Reserve accepted a total of $129.858 billion from 34 counterparties in fixed-rate reverse repurchase operations.A statement from the Federal Aviation Administration (FAA) showed that Musks SpaceX has obtained FAA approval to conduct up to 25 Starship launches per year in Texas.

While traders focus on US/UK PMI, the GBP/USD establishes a floor around 1.1250

Daniel Rogers

Sep 23, 2022 14:19

截屏2022-09-23 上午9.44.16.png 

 

The GBP/USD pair is displaying a dissatisfying performance after breaking below the important 1.1350 resistance level early in the Asian session. In the run-up to tomorrow's PMIs report, the cable has been trading in a tight range of 1.1250 to 1.1266. At one point in the past, after experiencing intense buying interest close to 1.1200, the asset price rebounded rapidly. After the current corrective drop from 1.1350 ends, the rising trend should resume.

 

The pound bulls' wild volatility increased after the Bank of England's interest rate decision was made public (BOE). Andrew Bailey, governor of the Bank of England, recently announced a 50-basis-point (bps) interest rate hike and a new terminal rate of 2.25%. The interest rate is now higher than it was in 2008.

 

However, the UK has not taken an assertive monetary policy approach, so investors should be aware that the economy is facing headwinds from rising pricing pressures. Reasons to keep a level head include the economy's weak foundations, precarious labor market conditions, and a terrible labor market index. Borrowing Cost of Britain (BOE) authorities did not hesitate when boosting interest rates because they were not given any support from domestic economic factors.

 

The S&P Global PMI data for the UK will soon be the most talked about stories in the media. Assuming the latest economic data is as accurate as the previous edition, we should expect to see a rise in Manufacturing PMI to 47.5 from 47.3. In spite of this, the Services PMI is predicted to fall from 50.9 to 50.0.

 

Meanwhile, demand for the US dollar index (DXY) is falling as the Federal Reserve's (Fed) unusually aggressive attitude loses some of its sway. Investors' attention has shifted to the PMI data, which is expected to show a lackluster performance overall. Preliminary estimates place the Manufacturing PMI at a gentle 51.1, while the Service PMI surges sharply to 45.


Suggestion