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7
Aug
All posts|Currency Updates
Will this afternoon’s US payrolls report disappoint?
e look ahead to this afternoon’s US nonfarm payrolls report, with indications suggesting that it may well surprise to the downside. Elsewhere, sterling gave up yesterday morning’s gains after comments from BoE Governor Andrew Bailey. ( 2 min )
The pound rose against its major peers this morning after the Bank of England revised higher its GDP projections for this year, while cooling talk regarding the possibility of negative UK interest rates.
Sterling rose back above the 1.31 level versus the US dollar this morning ahead of Thursday’s Bank of England ‘Super Thursday’ announcement. Meanwhile, the sell-off in the US dollar resumed, as political bickering in Congress continued.
This week’s ‘Super Thursday’ announcement from the Bank of England is set to be one of the main focal points of currency trading in the next few days.
The dollar clawed back some ground versus its major peers on Monday, with investors hopeful of news out of Congress on additional fiscal support from the US government. Sterling held firm above the 1.30 level as investors await Thursday’s Bank of England announcement.
July was the worst month for the dollar in ten years, as rising virus numbers and political bickering caused investors to abandon the currency en masse. Focus this week turns to Friday’s US payrolls report and Thursday’s BoE meeting.
The US dollar eased back against its peers again on Wednesday morning, as investors braced for a dovish tone of communications from the Federal Reserve this evening. Investors will also have one eye on tomorrow’s US and Euro Area Q2 GDP numbers.
The US dollar eased back against its peers again on Wednesday morning, as investors braced for a dovish tone of communications from the Federal Reserve this evening. Investors will also have one eye on tomorrow’s US and Euro Area Q2 GDP numbers.
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The dollar fell to news lows versus its major peers on Monday, as Congress remained unable to strike an agreement over its additional unemployment benefit scheme. Sterling has benefitted from this weakness, rallying to its strongest position since March.