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7 Jan 2014
GBP/USD slides on bearish momentum
FXstreet.com (London) - GBP/USD is sliding on momentum from the bearish trend that has been in place since the beginning of the year. With little in the way of macro data releases in the pipeline, focus is instead on the non-farm payroll numbers due at the end of the week. GBP/USD is currently trading at USD1.6394.
NFPs the main focus of the week
The US Senate yesterday voted to confirm Janet Yellen as the successor to Ben Bernanke as chairman of the Federal Reserve when Bernanke’s term ends on 31 January. Following the Fed’s decision on 18 December to taper its asset purchase programme, it is anticipated that Yellen will take up where her predecessor left off, continuing to taper incrementally at successive meetings, winding up the current incarnation of QE by the fourth quarter of 2014.
The only macro data of any significance on the agenda today is US November trade balance numbers, which are expected to show that the deficit narrowed from USD40.6 billion to USD40.0 billion, pushed lower by declining energy prices.
The focus of the week is on Friday’s non-farm payrolls where a further strong print is expected around the 200k mark, adding to last month’s 203k.
GBP/USD slides on choppy trading
GBP/USD is currently trading at USD1.6394, down 0.11 percent on the opening USD1.6409. The pair has declined on choppy trading, after retracing to USD1.6412.
NFPs the main focus of the week
The US Senate yesterday voted to confirm Janet Yellen as the successor to Ben Bernanke as chairman of the Federal Reserve when Bernanke’s term ends on 31 January. Following the Fed’s decision on 18 December to taper its asset purchase programme, it is anticipated that Yellen will take up where her predecessor left off, continuing to taper incrementally at successive meetings, winding up the current incarnation of QE by the fourth quarter of 2014.
The only macro data of any significance on the agenda today is US November trade balance numbers, which are expected to show that the deficit narrowed from USD40.6 billion to USD40.0 billion, pushed lower by declining energy prices.
The focus of the week is on Friday’s non-farm payrolls where a further strong print is expected around the 200k mark, adding to last month’s 203k.
GBP/USD slides on choppy trading
GBP/USD is currently trading at USD1.6394, down 0.11 percent on the opening USD1.6409. The pair has declined on choppy trading, after retracing to USD1.6412.