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Old 01-12-2020, 18:15
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

GBP/USD. November 01, 2020 The pound is confidently approaching the level of 1.3300

The British currency continues to show a decline from the 1.3400 highs area. The current quote for the pair is 1.3315.

Investors are still awaiting progress in the Brexit negotiations. Earlier, the head of the European Commission, Ursula von der Leyen, noted that the fate of the trade agreement will be decided this week, while the EU is ready to exit without a deal with Great Britain.

Yesterday, the dynamics of the pound was also affected by economic reports: the volume of consumer lending in October fell by 0.6 billion pounds, but the total number of approved applications increased from 91.454 to 97.5 thousand.

Today we should pay attention to the November house price index from Nationwide and the PMI of the manufacturing sector in the UK. Business activity in the country remained at 55.6 points, while analysts predicted the figure at 55.2. In the US, the manufacturing PMI will also be published and Jerome Powell will speak.
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