|Day's range||6.935 - 6.935|
|52-week range||6.6648 - 7.1839|
The pound has enjoyed a good week, with gains of close to one percent. There are two more hurdles for the currency before the weekend, with the release of manufacturing and services PMIs (release time – 9:30 GMT).
Caution reigned supreme today in markets as Wuhan went into shutdown and those that were unfortunate enough to have China risk to cover were forced to do so amid dwindling liquidity on both the Yuan and SHCOMP.
The British pound has flexed some muscle, as GBP/USD has climbed above the 1.31 line for the first time in two weeks. Will the upward move continue?
Investing.com - The safe haven Japanese yen gained against the U.S. dollar Thursday on a sharp bout of risk aversion, as battles to contain the new pneumonia-like virus in China intensified, although volatility remained limited.
The U.S-China trade war has dampened the Australian economy, as China is a key trading partner for Australia. The Phase One trade accord could weigh on the Australian dollar, as a Chinese commitment to purchase more U.S. goods could come at the expense of Australian exports.
The pound is subdued on Tuesday, but that could change later in the day, as investors brace for soft employment numbers out of the U.K. (releases at 9:30 GMT).
Investing.com - The Japanese yen is in demand Tuesday as a safe haven currency with the outbreak of the pneumonia-like virus in China sparking a bout of risk aversion.
British numbers were dismal last week. On Friday, retail sales declined by 0.6%. The pound is showing signs of weakness, as it has slipped below the symbolic 1.30 level. Is cable headed for further losses?
The British pound is steady, but could receive a boost if retail sales delivers a solid gain (release on Friday at 9:30 GMT). The story of the week has been the Chinese yuan, which has climbed to a 7-month high against the U.S. dollar.
Investing.com - The Chinese yuan is flying Friday, climbing to six month highs against the U.S. dollar in the wake of the release of the country’s latest economic growth figures.
The U.S .and China signed the ‘Phase One’ trade agreement, after years of a bitter trade war between the sides. Still, the accord is only a first step, as some U.S. tariffs will remain in place.
“Expanding trade.” is the meat of the matter, but other than that, I think we’re chasing stories of ghosts of handshake trade truces past interjected with opinions on narratives that haven’t even evolved yet, so maybe time to let the dust settle before diving in
The pound has remained steady this week, despite some dismal economic data. GDP declined by 0.3% in November and inflation slowed to 1.3% in December. If the soft economic numbers keep coming, the pound could find itself in 1.29 territory in a hurry.
Our proprietary leading indicator, Credit Impulse, which tracks the flow of new credit from the private sector, is at a turning point. We expect that global credit impulse will become positive in the coming quarter, which confirms our positive narrative for the global economy in 2020.
The U.S. has formally removed China as a currency manipulator, just ahead of the signing of the ‘Phase 1’ deal. Given its past record, will China really change its ways?
The world markets are moving upwards amid hopes for a trade truce between China and the US. An additional reason for optimism was the news that China was removed from the list of potential currency manipulators on the eve of the deal.
The pound has clawed its way back above the 1.30 line. Still, this week’s soft GDP release underscores a weak British economy, which could dampen investor sentiment towards the pound.
The pound continues to lose ground and fell below the symbolic 1.30 line on Monday. A contraction in November GDP points to a weak British economy, which could mean more turbulence for the currency.
In Taiwan, President Tsai Ing-wen, who favors independence, won a landslide victory. This will pose a challenge for both China and the United States, as the tense relationship between Tapei and Beijing could worsen.