- Analytics
- News and Tools
- Market News
- GBPUSD to hold back a bullish readjustment in the short-term – SocGen
GBPUSD to hold back a bullish readjustment in the short-term – SocGen
A muddled message by the Bank of England did not do Sterling any favours last week. Economists at Société Générale expect the GBP to remain under pressure for the time being.
UK Q3 GDP forecast to contract 0.5%
“The explicit lowering of market rate expectations by BoE Governor Bailey is at odds with the US where Fed Chair Powell talked up expectations for the terminal rate. This divergence and growth differentials should hold back a bullish readjustment of the GBPUSD in the short-term.”
“Unless US CPI surprises to the downside this week, investors may decide against cutting Sterling shorts with UK Q3 GDP forecast to contract 0.5%. This will signal the start of the two-year recession.”
© 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
