Market news
30.01.2025, 13:24

GBP edges lower in range – Scotiabank

UK lending data was a bit firmer than expected in December; data showed stronger demand for mortgages and lending secured on housing, Scotiabank's Chief FX Strategist Shaun Osborne notes.

UK December lending data a little firmer than f/c

"Data also showed a strong jump in net foreign demand for UK gilts at the end of the year, suggesting foreign investors are looking through the recent concerns about the sustainability of the government’s fiscal plans amid the rise in global bond yields."

"GBP tested the 1.24 area briefly yesterday but the dip drew a positive reaction on the charts, forming a bullish “hammer” signal on the daily candle. Overnight gains have stalled around 1.2460— initial resistance now—however. Cable may have to retest the 1.2390/00 zone or 1.2460 before a stronger sense of direction can emerge."

© 2000-2025. 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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.

Feedback
Live Chat E-mail
Up
Choose your language / location
Click Subscribe to receive notifications about promotions and bonuses