Forex Live Technical & Fundamental Analysis.
Forex Live – fundamental of GBP/USD that has been entirely bearish freshly after rebounding up the resistance area of 1.3300-1.3330.
GBP has been completely more weak in nature recently due to the Brexit effect but also PM “May” currently spoke about positive results in Brexit talks but that did not quite help the currency to gain momentum.
Today, a series of negative economic reports shows on the GBP side which made the currency lose ground against USD.
current economic values.
the UK CPI expected to 3.0% from the previous value of 2.9%, but actual was same as forecast like 3.0%.
PPI Input worse value at 0.4% from the previous value of 2.3% which was expected to be at 1.3% but it was 0.4% and that made it more downtrend.
RPI unchanged at 3.9% expected to increase to 4.0% and Core CPI unchanged as expected at 2.7%.
HPI worse than expected at 5.0% from the previous value of 4.5% expected to be at 5.4%.
and PPI Output expected at 0.2% decreasing from the previous value of 0.4%.
MPC Member Tenreyro and BOE Governor Carney spoke about the nation’s key interest rate and future monetary policies.
it is dovish stance that led to further weakness in GBP against USD. On the USD side, today Import Prices unchanged at 0.6%. Capital Utilization Rate increase to 76.2% from the previous value of 76.1%.
Capital Utilization Rate increase to 76.2% from the previous value of 76.1%.
Industrial Production show a positive change to 0.3% from the previous negative value of -0.9%, NAHB Housing Market Index unchanged at 64.
Besides, FOMC Member Harker is going to speak today about the upcoming interest rate decision and future monetary policies of the central bank.
To sum up, despite having weak economic condition last week USD is currently dominating over GBP.
for more details in report so go Fundamental Report