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GBP: more stimulus

GBP: more stimulus

Information is not investment advice

The stimulus

GBP/USD has risen from 1.2940 to above 1.3000 in a strong bullish spike just now. That’s because the Bank of England expanded the quantitative easing beyond expectations. Specifically, the bong-buying program is increased by 150 billion pounds. The committee unanimously voted in favor of this measure with the strategic objective to keep the interest rate at 0.1%. The process of buying itself will take one year starting in January.

For the GBP, that’s definitely good news as the entire country is now in a partial lockdown, Brexit is moving slow, and the British economy is in an obvious slump.

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The overview

In the meantime, the GBP keeps moving within a larger sideways channel between 1.2890 and 1.3070. The core of this channel is contained within narrower band 1.2940-1.3000 where 1.3000 is the key level – and the GBP has just stepped over it. Now, you may take the upside of the larger channel of 1.3070 as the primary target for bulls.

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USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

The NFP Release: One More Punch for USD?

The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.

The UK Speeds Up Tightening

The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.

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