Because of release of weak US housing data the Dollar failed to drag the Euro even below the weekly S1 at 1.1735.
The US Commerce Department revealed that building permits fell to 1.13M in the month of September, adding to concerns that the recovery of the property market was stalling.
The Sterling was suffering the third straight day of weakness against the US Dollar on mixed job data for Britain yesterday morning.
In result of the previous trading session, the exchange rate slipped not only through the 200-hour SMA, the weekly PP but also through the bottom boundary of an ascending channel.
Although the currency exchange rate failed to pass through the weekly S1 from the first attempt, the pair is still expected to move in the southern direction.
The Labour Department showed that the US import prices grew at the strongest pace of 0.7% in more than a year in September, due to higher costs of food and petroleum.
The GBP/USD exchange rate retreated from the peak to start a downward trend after a decent UK economic data.
In result of the previous trading session, the exchange rate made a breakout from the rising wedge formation.
The Labour Department showed that the US Consumer Price Index edged 0.5% higher in September, the strongest gain since January, which put the yearly rate of consumer inflation to 2.2% in the reported period.
The Labour Department showed that the US Consumer Price Index edged 0.5% higher in September, the strongest gain since January, which put the yearly rate of consumer inflation to 2.2% in the reported period.
In result of the previous trading session, the currency rate broke through the 200-hour SMA.
In result of release of unfavourable inflation data, the bullion continued to rally against the buck.
The Labour Department showed that the US Consumer Price Index edged 0.5% higher in September, the strongest gain since January, which put the yearly rate of consumer inflation to 2.2% in the reported period.
The Labour Department showed that the US Consumer Price Index edged 0.5% higher in September, the strongest gain since January, which put the yearly rate of consumer inflation to 2.2% in the reported period.
Despite a release of worse than expected data, the currency exchange rate failed to surge above the monthly PP at 1.1875 and made a rebound.
The Labour Department revealed that the US Producer Price Index climbed 0.4% in September.
The Labour Department revealed that the US Producer Price Index climbed 0.4% in September.
Despite a release of better than expected data on the US Core PPI, the yellow metal continued to appreciate against the buck.
In result of the previous trading session the currency pair made a successful breakout from a one-week long rising wedge pattern.
Due to uncertainty expressed by some of the FOMC members, the yellow metal continued to gain value against the buck.
The JOLTS survey showed that the number of the US job openings declined to 6.08M in August, from a downwardly revised figure of 6.14M in the prior month, facing negative impacts coming from the Hurricane Harvey.
The JOLTS survey showed that the number of the US job openings declined to 6.08M in August, from a downwardly revised figure of 6.14M in the prior month, facing negative impacts coming from the Hurricane Harvey.
The Euro continued to gain value against the Dollar, as FOMC meeting minutes showed that there are still some uncertainties about the need of another interest rate hike this year.
The GBP/USD currency pair kept going upwards in response to Tuesday's report pointing to an advance in the UK manufacturing production.