TRADING
TIPS :
The pound
edged up to six-month highs against the U.S. dollar in quiet trade on
Thursday, as demand for the greenback remained broadly under pressure
after the previous session's U.S. retail sales data.The dollar
remained under pressure after the U.S. Commerce Department said on
Wednesday that retail sales were unchanged, compared to expectations
for a 0.2% increase. Core retail sales, which exclude automobile
sales, rose just 0.1%, undershooting forecasts for a 0.5% gain. The
data underlined expectations that the Federal Reserve will delay
hiking rates until later in the year, after recent figures showed
that the U.S. economy expanded just 0.2% in the first quarter. The
pound recovered after the Bank of England on Wednesday trimmed its
forecast for growth this year to 2.4%, down from 2.9% three months
ago. The central bank added that it expects inflation, which
currently stands at a record-low zero, to return to its 2% target in
two years' time, little changed from its last report.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5815 TARGET 1.5835 1.5865 SL 1.5785
SELL
GBPUSD BELOW 1.5725 TARGET 1.5705 1.5675 SL 1.5755
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1425 TARGET 1.1445 1.1475 SL 1.1395
SELL
EURUSD BELOW 1.1335 TARGET 1.1315 1.1285 SL 1.1365
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