GBPUSD Weekly FOREX Forecast 06-Mar-2017

GBPUSD Weekly FOREX Forecast 06-Mar-2017

GBPUSD Weekly FOREX Forecast 04-Mar-2017

GBPUSD Weekly Forecast

Closing Price of last week

Estimated Range




Strong Sell

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Weekly Outlook of GBPUSD

Prospects of March 6 the weekMotion entwined in the United Kingdom of the European Union EU leaving the start of the Lisbon Treaty Article 50 invoked to be expected in the second half from mid-March, pound upside heavy deployment is expected. US Budget Message to the week after next, the Federal Open Market Commission FOMC, such as the Netherlands general election ahead of the attention the event, there is also a possibility that the speculative movement is intensified.Next week in the UK, it announced, such as trade balance and industrial production in January is scheduled. Manufacturing PMI of which this week announced February and 54.6 below the market expectations, was reduced in two consecutive months. About 56.1 not large divergence from the high level and became of last December the first time in two years, it can be said that the results show the resilience of the UK economy. Although the pounds depreciation is allowed to expand exports, increase in cost is also shown at the same time that you are squeezing the company. Pattern that price inflation is out effect on the sentiment of the company. Over-the-counter retail price index of February which was announced British Retail Consortium BRC is is a -1.0 year-on-year, to reduce the decline from the previous month, became a modest decline since January 2014. Suggesting that inflationary pressures have begun to appear in the over-the-counter price. Although inflationary pressures are increasing, at the impact that pounds depreciation on inflation is now, and remains within the scope of the assumption of the Bank of England BOE, from that increase in wages is also a moderate pace, low over a long period of time there is a possibility that the interest rate policy is maintained.EU withdrawal notice bill is, the United Kingdom living in EU member countries graduates is an amendment that ensures content is applied to the right to stay in the country even after the EU withdrawal of the United Kingdom has been passed in the Senate. Although withdrawal notification timing in the passage of the amendment until the end of March, which aim is the British government there is a possibility of postponed, according to the relationship between muscle story, amendment deliberations in the House of Representatives is carried out in 13-14 days schedule. Mei prime minister will be aiming to passage of the draft street in a new vote in the House of Representatives. You can invoke the Lisbon Treaty Article 50 to start the EU withdrawal negotiations as early as 15 days.In response to the flow of the dollar against the backdrop of the US March interest rate hike, the pressurized dollar upside is heavy. Dove toward the attitude of Canada in silver BOC also a little disturbing. However, recent Canada Economic indicators are noticeable good results, not expected significantly pressurized dollar. BOC this week, was to determine the deferred policy interest rates in the market as expected. In the statement, while the contents of the results to support a gradual economic recovery expected of recent economic indicators, there is a large uncertainty about the future, pointed out that the continued economic slack. Depending on the policy of re-negotiation, such as Trump regime of the North American Free Trade Agreement NAFTA, BOC has been left could go ahead to the additional interest rate cuts. Fourth quarter of gross domestic product last year GDP is a year-on-year 2.6, also deceleration from the third quarter of 3.8, it was the result indicating a steady economic recovery. Next week is scheduled the announcement of the trade balance and employment and housing indicators.Retrospective of February 27, the weekProgress in the dollar against the backdrop of an early interest rate hike rice in the exchange rate. Pound is also anaerobic weak manufacturing PMI, Pondodoru fell to 1.22 table that becomes a low level since mid-January, pound circle is sluggish at the 140 yen level. Canadian Dollar is also weak. Some of the dollar sentiment, selling Canadian Dollar tangled at the end of the month also seen, the US dollar / Canadian Dollar advances pressurized dollar selling to around 1.34 Canadian Dollar, Canadian Dollar yen was repainted a year-to-date low until the first half of 84 yen.
Source: DZH Financial Research

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