FOREX TradingCharts.com

Forex News: Pound Advances Amid Risk Appetite

Pound Advances Amid Risk Appetite

02/05/2021 - 05:50:00 (RTTNews)

(RTTNews) - The pound climbed against its major counterparts in the European session on Friday, as the Bank of England cooled hopes for taking the bank rate into negative territory sooner and the progress in vaccine distribution spurred hopes for a gradual economic recovery.

News that British researchers plan to use the Pfizer and AstraZeneca vaccines to find ways to reduce coronavirus variants further supported sentiment.

Investors await the Labor Department's closely watched report on the employment situation for January due later in the day.

Economists expect employment to rise by 50,000 jobs in January after a decline of 140,000 jobs in December. The unemployment rate is expected to hold at 6.7 percent.

Data from Halifax and IHS Markit showed that UK house prices declined for the first time in six months in January.

House prices fell 0.3 percent on month in January after remaining unchanged in December. This was the first decline since May and the biggest fall since April last year. Economists had forecast prices to climb 0.3 percent.

The pound advanced to a 3-day high of 1.3713 against the greenback, off its early low of 1.3658. The pound may locate resistance around the 1.42 level.

Reversing from an early low of 144.11 against the yen, the pound firmed to near a 1-year high of 144.51. If the pound rises further, 148.00 is seen as its next resistance level.

The pound jumped to near 1-year highs of 1.2373 against the franc and 0.8738 against the euro, from its early lows of 1.2348 and 0.8753, respectively. On the upside, 1.27 and 0.85 are possibly seen as the next resistance for the pound against the franc and the euro, respectively.

Looking ahead, U.S. and Canadian trade data for December, U.S. and Canadian jobs data for January, U.S. consumer credit for December and Canada Ivey PMI for January will be out in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Yen Falls As Powell Promises Fed Support (51 min(s), 28 sec(s) ago)
(RTTNews) - The Japanese yen slipped against its key counterparts in the European session on Wedne ...Full Story»

New Zealand Dollar Soars After RBNZ Holds Rate, QE Steady (03 min(s), 28 sec(s) ago)
(RTTNews) - The New Zealand dollar that initially fell against its major counterparts recovered im ...Full Story»

Euro Little Changed After German GDP Data (45 min(s), 28 sec(s) ago)
(RTTNews) - At 2.00 am ET Wednesday, Destatis has released Germany's quarterly GDP data for th ...Full Story»

Euro Mixed Ahead Of German GDP Data (39 min(s), 29 sec(s) ago)
(RTTNews) - At 2.00 am ET Wednesday, Destatis is slated to issue Germany's quarterly GDP data ...Full Story»

Dollar Little Changed After U.S. Housing Data (42 min(s), 28 sec(s) ago)
(RTTNews) - Federal Housing finance agency's house price index and S&P/Case-Shiller home p ...Full Story»

Dollar Rises Ahead Of U.S. Housing Data (36 min(s), 28 sec(s) ago)
(RTTNews) - Federal Housing finance agency's house price index and S&P/Case-Shiller home p ...Full Story»

Euro Little Changed After Eurozone CPI (42 min(s), 29 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Eurostat has published euro area final consumer prices for Janu ...Full Story»

Euro Mixed Ahead Of Eurozone CPI (36 min(s), 28 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Eurostat publishes euro area final consumer prices for January. ...Full Story»

Search

FOREX NEWS

Yen Falls As Powell Promises Fed Support

02/24/2021 - 07:14 AM (RTTNews)
(RTTNews) - The Japanese yen slipped against its key counterparts in the European session on Wedne ...Full Story>>

New Zealand Dollar Soars After RBNZ Holds Rate, QE Steady

02/24/2021 - 02:26 AM (RTTNews)
(RTTNews) - The New Zealand dollar that initially fell against its major counterparts recovered im ...Full Story>>

Euro Little Changed After German GDP Data

02/24/2021 - 02:06 AM (RTTNews)
(RTTNews) - At 2.00 am ET Wednesday, Destatis has released Germany's quarterly GDP data for th ...Full Story>>

Euro Mixed Ahead Of German GDP Data

02/24/2021 - 02:00 AM (RTTNews)
(RTTNews) - At 2.00 am ET Wednesday, Destatis is slated to issue Germany's quarterly GDP data ...Full Story>>

Dollar Little Changed After U.S. Housing Data

02/23/2021 - 09:04 AM (RTTNews)
(RTTNews) - Federal Housing finance agency's house price index and S&P/Case-Shiller home p ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.