25, March 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

GBP/USD rose by almost one cent. A certain number of the UK's leading and strong releases decided to support pound. The retail sales have shown the best profit for three years. As a result, we have a public sector net borrowing, which came out better than forecasted specialists.

All news and data obtained from the UK last week was positive. There were published a number of powerful releases, led by retail sales, which rose by 2.1%. GBP now can not repeat the excesses of February and the beginning of the sector is government borrowing was in short supply that is 4.4 billion.

However, this figure is comforting, compared with 8.4 billion that was predicted earlier. News has not been very positive from the UK manufacturing sector and CBI industrial orders are still in the negative sector. The indicator now stands at 15, just above this assessment 16 points.

The British pound has decided to rise against the dollar, which suddenly surprised economists. All of the positive data on retail sales and public sector borrowing, which was below the forecast - came as a surprise.

According to analysts, this "perfect condition" will not last too long as the British banks are going to take further easing of the monetary system and policies that will not lead to further growth.

The pair is likely to strengthen its position in the region 1.53-1.54 in our short term forecast. It is expected that the pair will face difficulties in the process of further growth.


The mortgage loans in February is published at 13:30 MSK, forecast 33.6 million against 32.3 thousand
Governor Mervyn King is to make a report at 21:15 MSK.