GBPUSD Weekly FOREX Forecast 13-Mar-2017

GBPUSD Weekly FOREX Forecast 13-Mar-2017

GBPUSD Weekly FOREX Forecast 13-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 13, the weekNext week declined attention events are many. Budget Message submission in the United States, the Federal Open Market Commission FOMC is scheduled. In the Netherlands general election of 15 days there is a possibility that the Liberal Party, which advocates an anti-European Union EU to win, has attracted attention. It is also likely that the price movement increases in exchange rates in general. Concerns that Scotland carries out the second round of a referendum to ask the independent also a continued likely to pressure the upside of the pound.In the UK, the announcement of monetary policy and the minutes of the announcement and the Bank of England of the February labor index BOE Monetary Policy Committee MPC is scheduled. Rise in the inflation rate to accelerate in the future, wage growth is likely to continue to be suppressed. Decline in real purchasing power of households already is likely to further downward pressure on the consumption that is seen slowing growth. Further enhanced when the EU withdrawal negotiations to start is uncertainty about the future of the British economy, will go also increasing concern to the hard shake ing JIT. But do not expect additional easing by the BOE, rise in the inflation rate is within the range that BOE is to tolerate, relaxed attitude for the sake of the economy underpinning will be maintained. Hammond British finance minister announced the budget will be the first after the EU withdrawal decision, the effect of the withdrawal decision was pointed out that come out gradually. For growth prospects, but it raised what to 2.0 this year, the subsequent three years was revised downward to 2.0 cracking.Amendment of the British EU withdrawal notice bill is re-deliberation is carried out in the House of Representatives over the 13-14 days. The amendment, and the right security of Britain EU citizens, entwined in the withdrawal negotiations important vote is that the mandate be done parliament was added. Mei Ying government but would be aimed at rejection of the amendment in the House of Representatives, Congressman number of vote against rejected by the ruling Conservative Party would hold the key. Seven MPs were opposed in the last month of the vote of the British EU withdrawal notice bill. Conservative Party has remained in more than 17 seats in the majority in the House of Representatives. If the passage of the draft Street, the British government during the next week is also likely to trigger the Lisbon Treaty Article 50 to start the EU withdrawal negotiations.Next week with a pressurized domestic, but international securities trading volume and manufacturing shipment announcement of January has been scheduled, less likely to become the clue. Canadian Dollar would be dependent on the dollar, which has received the results of the Trump administration policies and FOMC. Pay attention to trends in the crude oil market. Recently it had been followed by a range rate of 50-55, but this week was 50 crack since last December. While the compliance of the cooperative production cuts agreement of Petroleum Exporting Countries OPEC member countries and non-member countries has become a support to have been optimistic, crude oil production concerns the United States has been pressing the upside. Although Canada in silver BOC shows a strong concern about the uncertainty of the future economy, the possibility of the foot of the economic situation is good and policy changes is small.Retrospective of March 6 the weekPound small movement also is heavy upside. Amid the UK also in March is expected to start the EU withdrawal negotiations, Pondodoru fell to 1.21 the first half to be a low level since mid-January, pound yen dull also of return at a level which fell below 140 yen movement It became. Dollar trend of crude oil weaker amid continued also become a weight, the US dollar / Canadian Dollar is progress in dollar and pressure against the dollar to 1.35 Canadian Dollar table that becomes a level since the end of last year. Canadian Dollar yen was only modest up and down across the 85 yen.
Source: DZH Financial Research

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