Daily Update – 18th July 2019
The GBP/USD pair has bounced from a fresh over two-year low of 1.2381 achieved early in the London session, now trading in the 1.2450 region as the dollar fell out of the market’s favor during the American afternoon. The Sterling stumbled on the back of dismal UK data, as inflation remained flat monthly basis in June In the Brexit front, UK PM May said that she is worried about the state of local politics, as the inability to compromise drove it to the wrong path. The EUR/USD pair has recovered from a fresh weekly low of 1.1199, to hit an intraday high of 1.1233 in US trading hours, as data from the world’s largest economy came in much worse than expected. This Thursday, the kingdom will release June Retail Sales, the EU won’t release macroeconomic data while the US will publish weekly unemployment data and the Philadelphia Fed Manufacturing Survey for July.Yesterday's Focus
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