BOSSA.CZ (BOSSA.CZ)
Markets  |  March 15, 2013 14:21:00

Afternoon data in the U.S. and speech BoE Governor Influenced GBP / USD


iPoint.cz The head of the Central Bank of Great Britain (BOE) Mervyn King surprised the market when expressed relative to the weakening pound against the U.S. dollar (GBP / USD). According to King, the pound has fallen deep enough. Boss BOE believes that the pound is now against the U.S. dollar appreciated well. This verbal intervention helped GBP / USD to a significant strengthening. The question remains to what extent is this real verbal stimulation, because the British economy in recent years shows no green numbers and speculates BOE to increase asset purchases to support the growth of the domestic economy.

Mervyn King and at the end of his mandate at the head of BOE changing its policy because it is not as long as I relished weak pound and believed that it will help exporters to return the economy to growth. King also called for adherence to responsible fiscal policy and his courageous speech today is probably a reflection of note that in June leaves the management of the bank.

Industrial production in the U.S. in February exceeded expectations, rising by 0.7 percent, suggesting that the U.S. economy is gaining síle.Výsledek indicates that production could be over the worst of times. Economists were expecting growth of only 0.4 percent. Utilization rate of production machines in February increased to 79.6 percent. This is the best result since March 2008, when production reached to 80.1 percent.

Index of consumer sentiment University of Michigan and Thomson Reuters in March, according to preliminary datadropped to 71.8 points, the lowest level since December 2011 and below all estimates of 77.6 points at the end of February. U.S. consumer confidence declines due to dissatisfaction with the American government and its austerity measures and increased taxes.

Currency pair GBP / USD broke the long-term downward trend line and approached Fibonacci resistance level of 23.6. Here the market of truth awaits. Overcoming possible he could open the way for further strengthening. In terms of interpretation of oscillators, but the market would be able to return to previous lows.

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Odpolední data v USA a proslov guvernéra BoE ovlivňily GBP/USD

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