The Institute for Supply Management reported that its PMI for the US non-manufacturing sector posted weaker-than-expected increase to 55.3 in August, following the prior month's figure of 53.9.
The GBP/USD currency pair showed modest reaction on the UK economic releases on Friday, as the reports revealed mixed results for July.
Last Friday the currency pair expectedly ended in a red zone, reaching a combination of the 55-hour SMA and the weekly PP at 1.1999
Yesterday the exchange rate expectedly continued to climb to the top, using a support provided by the 55- and 100hour SMAs.
The Institute for Supply Management reported that its PMI for the US non-manufacturing sector posted weaker-than-expected increase to 55.3 in August, following the prior month's figure of 53.9.
The Institute for Supply Management reported that its PMI for the US non-manufacturing sector posted weaker-than-expected increase to 55.3 in August, following the prior month's figure of 53.9.
An announcement of the EU Minimum Bid Rate and the subsequent remarks delivered by Mario Draghi once again led to sharp advance of the currency pair.
A release of data on the US ISM Non-manufacturing did let the pair to use an upside momentum provided by the 55-hour SMA to try to reach the monthly R1 near 1,348.36
The Institute for Supply Management reported that its PMI for the US non-manufacturing sector posted weaker-than-expected increase to 55.3 in August, following the prior month's figure of 53.9.
The Institute for Supply Management reported that its PMI for the US non-manufacturing sector posted weaker-than-expected increase to 55.3 in August, following the prior month's figure of 53.9.
During the whole previous trading day the currency pair was expectedly moving along the moving averages in minor ascending channel.
The GBP/USD exchange rate rose quite a bit in the wake of slightly weaker Britain's Services PMI data.
The Commerce Department stated that orders for US-made goods tumbled 3.3% in July, as the demand for transportation equipment slumped in the same period.
On Tuesday, the exchange rate had finally bypassed the weekly R1, using the 55-hour SMA as a springboard.
During the last five days the currency exchange rate was trying to break through the bottom edge of a senior ascending channel.
Yesterday the exchange rate unsuccessfully tried to break through the weekly R1 at 1,339.42
Unfortunately for the Euro, the currency pair continues to fluctuate near the bottom edge of a senior ascending channel.
The Labour Department revealed that the US marked an increase of 156K new jobs over the course of August, which was below expectations, but strong enough to keep the country's economy growing at a steady pace.
The GBP/USD exchange rate fell in a wake of disappointing Britain's construction PMI report to continue trading in a wide-range dynamics.
In result of the escaling North Korean crisis investors start to transfer their money into a more safer assets, such as gold.
The Labour Department revealed that the US marked an increase of 156K new jobs over the course of August, which was below expectations, but strong enough to keep the country's economy growing at a steady pace.
The Sterling appreciated against the US Dollar, as the UK manufacturing sector reported a stronger-than-expected growth in August. GBP/USD rose to the 1.2930 mark to sustain the appreciation up until the US economic reports.
On Friday, the currency pair unexpectedly continued the fall after release of disappointing data about the US labour market.
During the previous trading day the bullion gained 1.3% in value against the buck.