Trading Tips:The pound extended gains against the dollar on Wednesday after data showing that the U.K. unemployment rate fell to a new seven-year low and wage growth continued to outpace inflation. GBP/USD was up 0.75% to 1.5361 from around 1.5301 ahead of the jobs report.The Office for National Statistics said the jobless rate ticked down to 5.4% in the three months to August from 5.5% in the preceding three- month period.It was the lowest unemployment rate since the second quarter of 2008. The Bank of England has said it is closely watching wage growth as it considers when to start raising interest rates.Sterling was also higher against the euro, with EUR/GBP down 0.49% at 0.7425.In the euro zone, data on Thursday showed that industrial production fell 0.5% in August after an upwardly revised 0.8% increase in July.The U.S. dollar index, which measures the greenback’s strength against a trade- weighted basket of six major currencies, was down 0.27% to three-and-a-half week lows of 94.55.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5350 TARGET 1.5370 1.5400 SL 1.5320
SELL GBP/USD BELOW 1.5300 TARGET 1.5280 1.5250 SL 1.5330
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
No comments:
Post a Comment