GBPUSD: Market Outlook

As reported by Market Leader (US)

Despite the fact that last week’s US employment data caused mixed feelings, on Tuesday the US Dollar strengthened against the British Pound. Financial markets welcomed the US Dollar after the FOMC report gave everybody to understand that the Fed Reserve was not going to start QE3 in the near future.

RICS’s house price balance showed -10%, which is better than expected (-12%). Conference Board’s leading economic index gained 1%, which is the best performance since May 2010 and a considerable stimulus for the British currency. BRC’s retail sales report showed a 1.3%, increase up to the highest value level since January. GBPUSD exceeded 1.59. The UK trade balance report disappointed traders and investors with a decline down to the 5-month low (-8.8B pounds). Read more...