search

An incredible cashback rate!
40% of the spread!

Join Now

Should We Keep a Close Eye on the Direction of the Pound-Dollar Exchange Rate, Which Keeps Hitting New Lows This Year?

Market Report

  1. homeHOME
  2. Market Report
  3. Should We Keep a Close Eye on the Direction of the Pound-Dollar Exchange Rate, Which Keeps Hitting New Lows This Year?

Should We Keep a Close Eye on the Direction of the Pound-Dollar Exchange Rate, Which Keeps Hitting New Lows This Year?

02.09.2022

Today's Highlights
  1. U.S. Employment Report
  2. Eurozone Producer Price Index

U.S. currencies rose yesterday after the U.S. ISM Manufacturing Index for August, released yesterday, came in at 52.8—matching the previous reading and defying market expectations. The GBP/USD pair fell by about 120 pips from 1.1620 to 1.1498.GBP/USD has continued to hit new lows this year and is now just a hair’s breadth away from the March 2020 low of 1.1433; therefore, traders should also watch for price movements ahead of news regarding the UK’s new party leader, which is expected early next week.

Among European currencies, the pound held its ground against the Oceania currencies, which have been showing little price movement, and the GBP/AUD pair traded in a range between 1.6910 and 1.7032.Amid a third consecutive day of falling crude oil prices and weakness in Oceania currencies, the slightly weaker pound managed to gain a slight edge. While the GBP/AUD pair is forming a range-bound market on the 4-hour chart, it has been raising its lows, so we will be watching for upward momentum heading into European trading hours.

Today, during Asian trading hours, Germany’s trade balance will be released at 15:00, followed by Switzerland’s second-quarter non-agricultural employment figures at 15:30 and France’s fiscal balance at 15:45. During European trading hours, Norway’s unemployment rate will be released at 17:00, followed by the Eurozone’sProducer Price Index at 17:00, and Brazil’s Industrial Production at 21:00 during European trading hours; and Canada’s Q2 Labor Productivity Index and U.S. Employment Report at 21:30, followed by the U.S. Manufacturing Orders Index at 23:00 during U.S. trading hours. We will be closely monitoring the direction of the GBP/USD pair, which continues to hit new lows this year.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Should We Keep an Eye on the Euro’s Price Movements at the Start of the Month as It Rises?

Next Article

All eyes are on whether the falling pound will bounce back
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings