GBPUSD bulls catch a breath around a seven-month high. The British Prime Minister is beaten for criticizing Labor’s referendum on the “Final Say,” avoiding debates at the BBC / ITV. UK housing data, UK policy could entertain the markets ahead of the US employment data. Here is the GBPUSD Fundamental Analysis of 06 December, 2019.
06 December, 2019 | AtoZ Markets – GBPUSD tumbled to 1.3160 as it headed into the London open on Friday. The quote jumped for seven consecutive days until Thursday as it reached the May month top.
GBPUSD Fundamental Analysis – 06 December 2019
The polls over the December UK elections keep the ruling Conservative Party in the lead. But Prime Minister Boris Johnson appears to have been grilled recently. They do not participate in the debates of ITV and the BBC. The reasons behind it are the Conservative leaders’ repeated refusal to participate in ITV and BBC debates, along with their criticisms of the Labor Party’s “Final Say” vote. Besides, the BBC quotes Donald Tusk said that Brexit was “one of the most spectacular mistakes.” He is the former President of the Council of the European Union (EU).
On the positive side, the optimism surrounding the trade agreement reached by British Chancellor Sajid Javid and former members of the Brexit Party. That is pushing the Conservatives to vote for them seems to play their part. Besides, the general weakness of the US dollar (USD) could also be considered as a reason for the last strength of the pair.
Aside from the downbeat data, there is no real progress in trade negotiations between the United States and China. If we do not believe the Trump administration, keep the cable under control.
US Employment Data and UK Housing Data
Markets seem to be playing dull. Because investors are especially eager to read November month’s employment data in the United States. So, the US 10-year treasury yields and most Asian equities remain moderately volatile. However, the optimism surrounding the forecasts keeps the tone slightly positive.
Before the release of the US jobs report, UK Halifax House Prices could entertain traders. “We expect the payroll to increase by $ 200,000 in November as a result of the consensus printing of $ 128,000 in October. The headline print is benefiting from a temporary increase in employment in the goods sector. That is expected to rebound by around 50k – a rebound from the sharp drop last month due to the strike at GM. The overall household survey shows that the unemployment rate fell by one-tenth to 3.5%. And wages may increase by 0.3% m / m. And the annual rate unchanged at 3.0% y / “, says TD Securities in front of key US data.
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