March 22, 2013
Friday (22nd) European market trading, the British pound against the U.S. dollar broke the 1.52 mark, refreshing a three-week high to 1.5212, and testing the 1.5200 resistance. Analysts said GBPUSD was under correction rebound, and the ending of downtrend cannot be fully determined.
European market on Thursday (21st), UK February retail sales data were exceptionally strong, with the monthly growth rate of 2.1% and annual rate of growth of 2.6%. The pound against the dollar broke through the 1.52 mark, reaching high 1.5210. U.S. trading hours, the pound against the dollar finished high, closing at 1.5173. Cyprus deposit tax problem is putting pressure on the euro, and is one of the reasons that support pounds.
British Bureau of Statistics data showed that the UK February public sector net borrowing decreased by 55% year-on-year to 4.356 billion pounds, lower than expected net borrowing of £ 8.25 billion. The January saw net repayment of 10.3 billion pounds. British public finances improved significantly in February, boosting the pound sterling higher.
Thursday, although the Bank of England's interest-rate record still reflects that the central bank may increase the size of the debt purchase, but this factor has been reflected in the previous meeting. The data did not generate selling pressure on Pound.
The Confederation of British Industry (CBI) announced that the total industrial orders difference in March is negative 15, and February retail sales rose by 2.1% compared with the previous month. The data are better than expected, providing support for the pound.
March 21, New York market close, Chicago International Monetary Market (IMM) 6-month pound was at 1.5164, the previous day's closing price was 1.5108. Volume was 202,830, an increase of 89340 compared to the previous trading day. Outstanding contracts on March 20 were 213,798, an increase of 1368 compared with the previous trading day.
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