The Cable rose on Friday morning on the back of the Irish\nconsumer confidence index and February Nationwide Housing Prices on a\nyear-on-year basis. The GBP \/ USD is following a bullish trend in early trading\nhours from 1.3054 to 1.3083.<\/p>\n\n\n\n
By midday, however, the pair was down. It fell sharply from the\nresistance level at 1.3083 directly down to the level of 1.3013. This slide\noccurred due to growing concerns over the chaos of Brexit extension. However,\nthe GDP figures released in the UK saved the pair from further decline. Later\nin the day, the main event of the UK parliamentary vote on the exit agreement\nended, with the deal being rejected again for the third time. After this event,\nthe pair fell to its lowest level until then at 1.2978.<\/p>\n\n\n\n
The dollar index<\/strong><\/p>\n\n\n\n Although US fourth-quarter GDP data came in lower than expected,\nthe US dollar index rose 0.1% to close at 96.773 on Thursday morning. Later in\nthe day, the dollar again rose on weakness in the currencies that were weighing\ndown against the index. The GBP \/ USD has fallen sharply on mounting concerns\nabout uncertainty about extending Britain’s exit from the EU. Later, the dollar\nindex gave up its morning gains after the release of personal consumer spending\ndata for January, as the figures were lower than economists’ estimates. The\nChicago Board of Directors Index for March closed 58.7 points higher than the\nmarket forecast of 61.0 points. Michigan’s consumer confidence index and new\nhome sales for February helped the US dollar index from dropping further.<\/p>\n\n\n\n NZD \/ USD<\/strong><\/p>\n\n\n\n On the second day after the pair’s significant decline, the NZD \/\nUSD pair retreated from previous losses. The pair rose slowly to new targets\namid weak US consumer spending data. After starting the day at 0.6782, the\ncurrency pair reached new levels near 0.6819 levels. The pair also headed to\nbreak the last day’s high at 0.6828. However, the NZD \/ USD was unable to gain\nas the US consumer confidence and home sales index posted higher than market\nexpectations.<\/p>\n\n\n\n USD \/ CAD<\/strong><\/p>\n\n\n\n The pair’s main highlight for today is the sharp drop that took\nplace in the middle of the day, making the pair retreat from 1.3422 to 1.3351.\nThe USD \/ CAD pair dropped after the release of Canadian GDP figures for\nJanuary. The gross domestic product (GDP) was 0.3% compared to the consensus estimate\nof 0.0%. The pair made a range bound move during early trading sessions amid\nlower crude oil prices. US President Donald Trump’s press releases are expected\nto have downward pressure on crude oil prices. However, the WTI crude oil\nfutures contract continues to reach new record highs at $60.71 a barrel.<\/p>\n\n\n\n USD \/ JPY<\/strong><\/p>\n\n\n\n Japanese housing figures were up 4.2% from 0.5%. The safe-haven\npair fell from 110.79 yen to 110.55 yen per dollar after the positive reports.\nDuring the day, USD \/ JPY broke into a range-bound trade with the resistance\nlevel at 110.93 and the support level at 110.55.<\/p>\n","protected":false},"excerpt":{"rendered":" The Cable rose on Friday morning on the back of the Irish consumer confidence index and February Nationwide Housing Prices on a year-on-year basis. The GBP \/ USD is following a bullish trend in early […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[28,27,52,50,77,51,25,26,29,33,102,81,101],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1136"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1136"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1136\/revisions"}],"predecessor-version":[{"id":1138,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1136\/revisions\/1138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1137"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}