FOREX TradingCharts.com

Forex News: Pound Rises Amid Risk Appetite

Pound Rises Amid Risk Appetite

07/10/2018 - 07:07:00 (RTTNews)

(RTTNews) - The pound climbed against its major counterparts in the European session on Tuesday amid risk appetite, as investors brushed aside trade worries and looked ahead to a strong quarterly earnings season.

Traders digested political turmoil in the U.K., as the resignation of Foreign Secretary Boris Johnson and Brexit minister David Davis put the British government into disarray.

Data from Office for National Statistics showed that U.K economic growth increased in May, led by services, while production declined.

GDP grew 0.3 percent month-on-month in May after the 0.2 percent increase in April and a flat reading in March.

Meanwhile, U.K. industrial production decreased for the third straight month in May, defying economists' forecast for an increase.

Industrial production fell 0.4 percent month-over-month in May, slower than April's revised 1.0 percent decline.

The UK visible trade deficit narrowed slightly in May, another data showed.

The trade in goods showed a shortfall of GBP 12.36 billion in May, down from GBP 12.40 billion in April. The expected deficit was GBP 12.0 billion.

The currency traded mixed against its major counterparts in the Asian session. While it fell against the greenback and the franc, it held steady against the euro and the yen.

The pound climbed to 1.3301 against the greenback, from a low of 1.3224 seen at 2:15 am ET. The pound is likely to find resistance around the 1.34 level.

The U.K. currency advanced to 147.77 against the yen, its strongest since June 14. The pound is seen finding resistance around the 149.00 level.

The pound edged up to 1.3194 against the Swiss franc, off its early low of 1.3125. The next possible resistance for the pound is seen around the 1.33 level.

Reversing from an early low of 0.8875 against the euro, the pound rose to 0.8828. If the pound continues its rise, 0.87 is possibly seen as its next resistance level.

Survey data from the Centre for European Economic Research showed that German investor confidence fell to its lowest level in nearly six years in July, as sentiment was hurt by political uncertainty.

The ZEW Indicator of Economic Sentiment for Germany dropped 8.6 points to minus 24.7 points, which was the lowest reading since August 2012.

Looking ahead, Canada housing starts for June and building permits for May are due in the New York session

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Euro Little Changed After Eurozone Consumer Sentiment Index (01 hr(s), 40 min(s), 05 sec(s) ago)
(RTTNews) - Following the release of Eurozone advanced consumer sentiment index for July at 10:00 ...Full Story»

Dollar Little Changed After U.S. Existing Home Sales (01 hr(s), 43 min(s), 05 sec(s) ago)
(RTTNews) - At 10:00 am ET Monday, the National Association of Realtors has released its report on ...Full Story»

Dollar Steady Ahead Of U.S. Existing Home Sales (01 hr(s), 52 min(s), 05 sec(s) ago)
(RTTNews) - At 10:00 am ET Monday, the National Association of Realtors is scheduled to release it ...Full Story»

Australian Dollar Falls Against Majors (02 hr(s), 01 min(s), 05 sec(s) ago)
(RTTNews) - The Australian dollar slipped against its major counterparts in early New York deals o ...Full Story»

Pound Weakens On Fears Of No-deal Brexit (04 hr(s), 34 min(s), 05 sec(s) ago)
(RTTNews) - The pound slipped against its major counterparts in the European session on Monday, as ...Full Story»

Euro Declines Against Majors (05 hr(s), 52 min(s), 05 sec(s) ago)
(RTTNews) - The euro dropped against its major counterparts in early European deals on Monday. ...Full Story»

Yen Trades Higher On BoJ Policy Tweak Chatter (08 hr(s), 01 min(s), 05 sec(s) ago)
(RTTNews) - The Japanese yen traded higher against its major counterparts in the Asian session on ...Full Story»

Dollar Falling On Trump And Bullard Comments (31 min(s), 55 sec(s) ago)
(RTTNews) - The dollar is losing ground against its major rivals Friday afternoon. On a quiet day ...Full Story»

Search

FOREX NEWS

Euro Little Changed After Eurozone Consumer Sentiment Index

07/23/2018 - 10:06 AM (RTTNews)
(RTTNews) - Following the release of Eurozone advanced consumer sentiment index for July at 10:00 ...Full Story>>

Dollar Little Changed After U.S. Existing Home Sales

07/23/2018 - 10:05 AM (RTTNews)
(RTTNews) - At 10:00 am ET Monday, the National Association of Realtors has released its report on ...Full Story>>

Dollar Steady Ahead Of U.S. Existing Home Sales

07/23/2018 - 09:56 AM (RTTNews)
(RTTNews) - At 10:00 am ET Monday, the National Association of Realtors is scheduled to release it ...Full Story>>

Australian Dollar Falls Against Majors

07/23/2018 - 09:47 AM (RTTNews)
(RTTNews) - The Australian dollar slipped against its major counterparts in early New York deals o ...Full Story>>

Pound Weakens On Fears Of No-deal Brexit

07/23/2018 - 07:12 AM (RTTNews)
(RTTNews) - The pound slipped against its major counterparts in the European session on Monday, as ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.