GBPUSD Fundamental Expectations


The GBP/USD currency pair briefly traded above 1.3600 on Tuesday as the dollar fell to multi-month lows. Did into the 4 January GBPUSD Fundamental Expectations for more details.

4 January, OctaFX– Economic data will hog the headlines on Thursday, with an advance report on US employment set to drive the markets at the top of the North American trading session.

Just 15 minutes later, Labor economists will report on initial jobless claims for the week ended 30 December. The number of Americans filing for first-time unemployment benefits is forecast to fall to 240,000 last week from 245,000.

IHS Markit will issue headline PMI data at 14:45 GMT, including reports on the US services sector and the broader economy. The PMI Composite index is projected to rise to 53.7 in December from 53.0 the month before.

On the monetary policy front, St. Louis Federal Reserve President James Bullard will deliver a speech at 18:30 GMT. On Wednesday, the minutes of the December FOMC policy meeting revealed that most officials agreed that gradual rate hikes would be warranted for 2018.

4 January GBPUSD Fundamental Expectations

After a sharp rally, cable pulled back sharply on Thursday, with prices consolidating in the 1.3520 region. The GBP/USD currency pair briefly traded above 1.3600 on Tuesday as the dollar fell to multi-month lows. With the December high breached, investors can expect further upside momentum in the near term.

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