• The British pound trims Wednesday’s losses is trading near the tops of the week.
  • The market sentiment is upbeat benefits high-beta currencies like the pound, the aussie, and the kiwi.
  • US Initial Jobless Claims dropped more than expected, adding to the positive ADP Employment Change report.

The GBP/USD is recovering some of Wednesday’s losses, climbs 0.32%, near the tops of the week, trading at 1.3626 during the New York session at the time of writing.

A positive market sentiment surrounds the market, as witnessed by European and US equity markets, rising between 1.46% and 2.09%. Further, risk-sensitive currencies, like the pound, the aussie, and the kiwi, are advancing. The US debt ceiling solution, although short-term, it was a relief for investors. Additionally, Russia’s offer to ease Europe’s energy crisis sums up the upbeat tone.

In the meantime, the US Dollar Index, which tracks the greenback’s performance against a basket of six peers, is down 0.14%, sitting at 94.10.

US Jobless Claims dropped more than foreseen, QE’s reduction could be on its way

In the UK, the Halifax House Prices for September edged higher, more than the previous reading. On an annually based, it rose by 7.4%, higher than 4.9% expected, whereas the monthly basis heightened to 1.7%, more than 0.8%, estimated.

Across the pond, the second out of three jobs related report reading was better than expected. The US Initial Jobless Claims increased to 326K lower than the 348K, foreseen by analysts.  According to the report, “The advance number for seasonally adjusted insured unemployment during the week ending September 25 was 2,714,000, a decrease of 97,000 from the previous week’s revised level.”

That said, the US labor market seems to be improving with two out of three positive reports. On Friday, the US economic docket will feature the Nonfarm Payrolls report. Economists expect the creation of 488K new jobs in the economy. If the outcome comes in line or better than expected, investors could expect a bond tapering announcement by the FOMC’s November meeting.

KEY ADDITIONAL LEVELS TO WATCH

GBP/USD

Overview
Today last price 1.3626
Today Daily Change 0.0044
Today Daily Change % 0.32
Today daily open 1.3582
 
Trends
Daily SMA20 1.3678
Daily SMA50 1.3756
Daily SMA100 1.3856
Daily SMA200 1.3845
 
Levels
Previous Daily High 1.3636
Previous Daily Low 1.3544
Previous Weekly High 1.3729
Previous Weekly Low 1.3412
Previous Monthly High 1.3913
Previous Monthly Low 1.3412
Daily Fibonacci 38.2% 1.3579
Daily Fibonacci 61.8% 1.3601
Daily Pivot Point S1 1.3538
Daily Pivot Point S2 1.3495
Daily Pivot Point S3 1.3446
Daily Pivot Point R1 1.3631
Daily Pivot Point R2 1.368
Daily Pivot Point R3 1.3723

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Bulls step in at month-end, eyeing the upside

EUR/USD is set to close off a bearish week towards a test of 1.11 the figure after breaking out of the bearish weekly wedge to the downside. Bulls have an eye on the weekly M-formation and prospects of a significant correction. 

EUR/USD News

GBP/USD slumps toward 1.3350, renews five-week lows

GBP/USD stays under constant bearish pressure on Thursday and trades at its lowest level since late December below 1.3370. Following the upbeat growth data from the US, the US Dollar Index is rising more than 0.7% on the day above 97.00. 

GBP/USD News

Gold licks wounds at three-week low near $1,800 amid firmer USD

Gold bears take a breather around $1,797 as Friday’s Asian session begins, following a $50 slump in the last two consecutive days to a three-week low. The yellow metal awaits fresh clues after piercing the $1,800 threshold the previous day.

Gold News

Bitcoin struggles against resistance as bulls keep their eye on $40,000

Bitcoin price action faced intense selling pressure after the Fed’s decision, with Bitcoin losing more than 5% from its Wednesday high. If the sell-off from the top wasn’t discouraging enough for bulls, then the daily close in the red certainly added insult to injury.

Read more

Apple (AAPL) Earnings for Q1 beats estimates on EPS and revenue

Apple (AAPL) reported earnings after the close on Thursday. Earnings per share (EPS) came in at $2.10 versus the estimate of $1.89. Revenue was $123.9 billion versus the estimate for $118.66 billion. AAPL is trading at $162.40 in Thursday's aftermarket, a change of 2% versus the regular session close of $159.16.

Read more

Forex MAJORS

Cryptocurrencies

Signatures