search

An incredible cashback rate!
40% of the spread!

Join Now

Should We Keep an Eye on the Upside Potential for the Pound, Which Has Rebounded Against the U.S. Dollar?

Market Report

  1. homeHOME
  2. Market Report
  3. Should We Keep an Eye on the Upside Potential for the Pound, Which Has Rebounded Against the U.S. Dollar?

Should We Keep an Eye on the Upside Potential for the Pound, Which Has Rebounded Against the U.S. Dollar?

12.12.2023

Today's Highlights
  1. U.S. Consumer Price Index (CPI)
  2. Germany's ZEW Economic Sentiment Index

In the U.S. currency market yesterday, the U.S. dollar traded in a tight range against the euro ahead of today’s U.S. CPI release. The EUR/USD pair traded within a very narrow range between 1.10741 and 1.0778, continuing its lack of direction.From a technical perspective, the EUR/USD pair is trading just below the 200-period simple moving average (SMA) on the 4-hour chart, and the 200-period exponential moving average (EMA) is acting as support on the daily chart, so we will be watching price action closely during U.S. trading hours today.

European currencies saw the pound rise slightly against the U.S. dollar after the UK’s December Rightmove house prices, released yesterday, showed an improvement year-over-year, moving from a 1.3% decline the previous month to a 1.1% decline. The GBP/USD pair rebounded by about 60 pips, rising from 1.2522 to 1.2588.It has recovered from this month’s low. However, on the daily chart, the RSI remains in a downtrend after falling from above 70, so traders should remain cautious ahead of today’s economic data releases during U.S. trading hours.

Today's economic indicators include the UKEmployment Report at 16:00, the German and Eurozone ZEW Economic Sentiment Indexes at 19:00, South African Manufacturing Output and the U.S. NFIB Small Business Optimism Index at 20:00, Mexican Industrial Production at 21:00, and the IndianIndustrial Production, and India’s Consumer Price Index; at 22:30, the U.S. Consumer Price Index; at 22:55, the U.S. Redbook Large Retailer Sales; at 27:00, the U.S. 30-Year Treasury Auction; and at 28:00, the U.S. Budget Balance.We will carefully monitor the upside potential for the pound, which has rebounded against the U.S. dollar.

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 a close eye on the upside potential of the Canadian dollar, which has become the strongest currency in the wake of the U.S. dollar’s rise?

Next Article

Will the U.S. dollar experience sharp fluctuations at the FOMC meeting following the release of the U.S. CPI? Caution is advised.
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 an interest in this feature.

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 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