Event to pay attention to today:
05.03 15:30 EET. USD - Unemployment Claims
GBPUSD:
GBP/USD is trading with a downward bias as the dollar strengthens after solid US economic releases. February data for the services sector pointed to faster business activity, increasing the likelihood that US rates will stay unchanged for longer. Against this backdrop, demand for the dollar rises and sterling loses support, especially during periods of lower risk appetite.
For the British currency, inflation risks remain a key theme. The jump in oil and gas prices has increased concerns about additional pressure on consumer prices and pushed short-term yields higher, leading the market to scale back confidence in a quick Bank of England rate cut. Some analysts still allow for a cut as early as March, but expectations for further easing have become less clear-cut.
Within the UK, attention is centered on signals from inflation, wages, and consumer demand: persistent price pressures would extend the period of high rates, while cooling inflation would accelerate the discussion about easing. From the US side, jobless claims and import-price data may act as drivers, potentially reinforcing the dollar.
Trade recommendation: SELL 1.33500, SL 1.33800, TP 1.32600
05.03 15:30 EET. USD - Unemployment Claims
GBPUSD:
GBP/USD is trading with a downward bias as the dollar strengthens after solid US economic releases. February data for the services sector pointed to faster business activity, increasing the likelihood that US rates will stay unchanged for longer. Against this backdrop, demand for the dollar rises and sterling loses support, especially during periods of lower risk appetite.
For the British currency, inflation risks remain a key theme. The jump in oil and gas prices has increased concerns about additional pressure on consumer prices and pushed short-term yields higher, leading the market to scale back confidence in a quick Bank of England rate cut. Some analysts still allow for a cut as early as March, but expectations for further easing have become less clear-cut.
Within the UK, attention is centered on signals from inflation, wages, and consumer demand: persistent price pressures would extend the period of high rates, while cooling inflation would accelerate the discussion about easing. From the US side, jobless claims and import-price data may act as drivers, potentially reinforcing the dollar.
Trade recommendation: SELL 1.33500, SL 1.33800, TP 1.32600
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More analytical information and promotions on FreshForex website cutt.ly/LrP6j9qD
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.