The Pound Sterling (GBP) has fallen by -0.2% against the US Dollar (GBP/USD) today, following a forecast-beating result for the US Change in Non-Farm Payrolls figure for November. Instead of printing at 200k, the figure instead came in at 211k; this sent expectations for a Fed interest rate hike up to almost 80% among some economists.
UK House Price Data due on Sunday ahead of Fed Speech on Monday Next Week
The Pound Sterling (GBP) will next be affected by the outcome of the Halifax House Prices for November, which are due out at some point on Sunday. For the US, the first major release will come on Monday with a speech from Fed official James Bullard, who is due to make a delivery on monetary policy in the state of Indiana.
Earlier…
The Pound Sterling to US Dollar (GBP/USD) exchange rate has fallen by a small amount today, although both currencies have had strong showings against peers elsewhere.
GBP/USD Exchange Rate News: UK Car Statistics may Provide False Hope According to Economist
The Pound Sterling (GBP) has declined marginally against the US Dollar (GBP/USD) today, but has otherwise made a number of respectable gains. These have included 0.5% against the Euro (GBP/EUR) and the Danish Krone (GBP/DKK), 0.6% against the Romanian Leu (GBP/RON) and 0.7% against the Swiss Franc (GBP/CHF). The most notable losses have been by -0.3% against the Qatari Rial (GBP/QAR) and -0.5% against the Israeli New Shekel (GBP/ILS). The Pound’s gains today are superior to those seen at the start of the week.
Today’s only UK data has been the New Car Registrations result for the year in November, which has risen by 3.8%. However, according to Pantheon Macroeconomics Chief UK Economist Samuel Tombs: ‘Car sales have recovered from their October dip, but the underlying trend is probably flat…this slowdown will drag on the headline consumption numbers’.
US Dollar’s (USD) Value Restored Following Euro’s (EUR) Downtrend Today
The US Dollar (USD) has risen against most of its rivals today, primarily on account of the strong Euro (EUR) of yesterday crashing in appeal today. The US Dollar was positively affected yesterday by a speech from Fed Chair Janet Yellen; the tone was moderately hawkish ahead of a pair of vital US economic publications due today.
The US Dollar has risen by a small amount against the Pound Sterling (USD/GBP) today but made greater gains of 0.5% against the Euro (USD/EUR), 0.6% against the South African Rand (USD/ZAR) and 0.7% against the Swiss Franc (USD/CHF).
GBP/USD Exchange Rate Forecast: High-Profile US Data due Imminently, No UK Data Out Until Next Week
The US Dollar (USD) will have centre stage today when it comes to economic releases, as the UK has no remaining economic publications scheduled for release until Sunday.
All of the upcoming US releases are likely to have a noticeable effect on the GBP/USD exchange rate, but the November Change in Non-Farm Payrolls and Unemployment Rate figures are expected to cause the most movement today. At the time of writing, forecasts were for no change in the Unemployment Rate which currently stands at 5%, but a healthy result of 200k had been forecast for the other high-impact result.
The other US economic release of note includes the October Trade Balance, which was forecast to show a minor deficit reduction at the time of writing.
Current GBP, USD Exchange Rates
The Pound Sterling to US Dollar (GBP/USD) exchange rate was trending in the region of 1.5114 and the US Dollar to Pound Sterling (USD/GBP) exchange rate was trending in the region of 0.6617 today.
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