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GBP/USD Edges Lower After Friday Slump

Yesterday’s high: $1.3059

Yesterday’s low: $1.3012

US Dollar Continues to Enjoy Boost from Non-Farm Payrolls

Friday’s strong US labour market data continued to give the US Dollar a boost yesterday. USD has gradually weakened over the past few weeks as it dawns on markets that there may not be the one or two extra interest rate hikes this year that were expected. But Friday’s jobs data has somewhat rekindled those hopes. Meanwhile, the Pound was softened after data from Halifax showed that UK house price growth had slowed to a four-year low.

USD Outlook: Quiet Day Ahead – Will USD Hold Up?

There is no data set for release from the UK – now that this morning’s British Retail Consortium (BRC) sales data has been published – and only low-impact releases from the US. With little else to go on, markets will be thinking long-term, although the low-impact NFIB business optimism index could sway the GBP/USD exchange rate if it shows something significant.

Key Events

August 8th

10:00 USD NFIB Small Business Optimism (JUL)

12:15 CAD Housing Starts (JUL)

14:00 USD JOLTS Job Openings (JUN)

 

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To keep up to date with the US Dollar, visit the USD blog in our Currency News section.

Arron Morris


Senior Currency Broker
T: 01442 892 065

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