The pound rose after the index of the services sector in the UK was unchanged

1 year ago forexsimulation 0

The pound has risen in relation to other major currencies. The published data showed that the index of the services sector in the UK remained unchanged in July, in line with expectations. The pair GBP / USD recorded the peak at 1.3356, subsequently consolidated at 1.3335. Official data showed that the index of activity in the services sector in the UK remained unchanged in July at 47.4 points, which was in line with analysts’ forecasts. In relation to the euro, the pound has strengthened. EUR / GBP dropped to 0.8392.The index of the service sector in the euro zone rose in July to 52.9 points from 52.7 in the previous month. Analysts have predicted that it will remain unchanged. The British currency rose against the yen and the franc. GBP / JPY jumped to 134.95, and the GBP / CHF climbed to 1.2915. The index of service sector activity in Japan rose in July to 50.4 points from 49.4 in the previous month. The British pound during Asian trading kept near three-week high against the dollar prompted by positive results from the construction sector. The investors are still quite cautious before this week’s BoE meeting, which is expected to take a decision on the reduction of interest rates. It can see that the price was moving in range 1.32860-1.33705. It can be expected to find the first resistance level at 1.33250 and the second at 1.34940 as targets. By this charts, my recommendation would be buying position above 1.33220 with targets 1.34250 and 1.34940. If the price went out in opposite direction the pair can be found first support level at 1.32280 and 1.31000 as the second support level. Easymarket can provide excellent news to trade using this trading signals. The pair has completed a pullback towards June 2009 low at 1.35 which now acts as a resistance.

Supports and resistances levels

  • 1.34940 resistance
  • 1.34250 resistance
  • 1.33370 Last
  • 1.32280 support
  • 1.31000 support

 

9pip

The Swiss franc mostly rose against other major currencies. The published data showed that retail sales in Switzerland fell in July. Forex pair USD / CHF recorded bottom at 0.9652, subsequently consolidated at 0.9658. Official data showed that retail sales in Switzerland fell in July by 3.9% after falling 1.7% in the previous month, and predicted to fall by 2.0%. A separate report showed that the index of production in Switzerland fell in July to 50.1 points from 51.6 in the previous month, while the forecast growth at 51.7 points. Against the euro, the Swiss franc has strengthened. EUR / CHF dropped to 1.0810. Inflation in the euro zone producer prices rose in July by 0.7% after rising 0.6% in the previous month. Analysts had expected growth of 0.4%. Swiss currency fell against the pound and the yen. GBP / CHF climbed to 1.2790 and CHF / JPY dropped to 105.37. The index of activity in the construction sector of Great Britain slipped in July to 45.9 points from 46.0 in June. Economists had expected a decline of 43.8 points. In Japan published data that showed that the monetary base fell in July to 24.7% from 25.4% in the previous month. Analysts had expected a drop to 24.3%. The confidence of households in Japan fell in July to 41.3 points from 41.8 in the previous month. Analysts had expected a rise to 42.2 points.

The euro rose against the US dollar, but fell against other currencies, after the published data. Producer price inflation in the euro zone rose in July, more than expected. The pair EUR / USD rose to 1.1193. Against the pound, the yen, and the franc, the euro fell. EUR / GBP dropped to 0.8450, EUR / JPY fell to 113.81. The single currency fell against the Canadian, Australian and New Zealand dollars. EUR / CAD fell to 1.4606, EUR / AUD dropped to 1.4719 and EUR / NZD fell to 1,5506. The Australian Central Bank reduced the interest rate in August at the historic low of 1.50% with 1.75% in order to defend the economy from the bad deflation. Index euro fell 0.02% to 88.80.

The dollar fell against other major currencies. Published data showed that consumer spending in the US rose in July, more than expected. Personal consumption in the US rose by 0.4% in July, compared to expectations for an increase of 0.3%, after an increase of 0.4% in May. Personal incomes also rose by 0.2%, after rising 0.2% in the previous month, and predicted growth of 0.3%. The US currency fell against the yen and the pound. USD / JPY dropped to 101.25, GBP / USD rose to 1.3282, and USD / CHF fell to 0.9649. USD / CAD fell to 1.3012, AUD / USD rose to 0.7627, while the NZD / USD jumped to 0.7246. The dollar index fell 0.66% to 95.13.

Stock indices on Wall Street were mixed, after growth in the technology sector and the fall in energy. The Dow Jones fell 0.15%, the S & P 500 dropped 0.12%, while the Nasdaq Composite index rose 0.43%. NASDAQ recorded growth after the jump stock price of Apple and the Alphabet posted better than expected quarterly results. The energy sector yesterday was under pressure and lowers the value of the Dow Jones and the S & P 500 Index due to weaker than anticipated Business performance Exxon and Chevron and a further drop in oil prices by 3 percent. Asian stocks fell. Japan’s Nikkei 225 index fell 0.88%, Hang Seng index in Hong Kong dropped 0.01% while Australia’s S & P / ASX 200 was lower by 0.48%  European stocks  have fallen. Euro Stoxx 50 was down 0.80%, France’s CAC 40 rose 0.65%, Germany’s DAX 30 was lower by 0.45%, while the FTSE 100 fell 0.42%.