- Analytics
- News and Tools
- Market News
- No clear direction for GBP but will see new lows when the dust settles - Societe Generale
No clear direction for GBP but will see new lows when the dust settles - Societe Generale
The week ahead sees house price data, CPI, PPI, unemployment, retail sales and a 'special' PMI release as well. If we've cleared enough of the shorts out, sterling could slip back. Weak data would convince markets that the failure to ease in July was just a temporary delay. On the other hand, if for some reason the data are OK, then who knows It's bound to be fascinating.
When all the dust settles, I think we'll see new lows for sterling and a steeper curve, but on a one-week view, it's hard to be confident of anything much in the UK.
The US sees minor data this week (housing starts, Philly Fed, existing home sales) and that won't be a driver of markets.
But US markets will be a driver, as equities remain well supported and bond yields are adjusting to equities. The dollar needs more real yield support (and needs the nominal rates market to get ahead of real rates/yields.
SocGen maintains a short GBP/USD from 1.3750 targeting 1.25.*
*This trade is recorded and tracked in eFXplus Orders.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
