Economic news on gbpusd

Here are some recent economic news and updates related to the GBP/USD currency pair:

Recent News:

  1. UK GDP Growth Slows Down: The UK's gross domestic product (GDP) grew by 0.1% in the three months to January, slower than the 0.3% growth in the previous quarter. This has raised concerns about the UK's economic growth prospects. (Source: BBC News)
  2. BoE Keeps Interest Rates Unchanged: The Bank of England (BoE) kept its interest rates unchanged at 0.5% in its latest monetary policy meeting, citing concerns about the impact of Brexit on the economy. (Source: Reuters)
  3. UK Inflation Rate Remains Low: The UK's consumer price index (CPI) inflation rate remained steady at 1.8% in February, below the BoE's target rate of 2%. (Source: Office for National Statistics)
  4. GBP/USD Hits 1.30: The GBP/USD currency pair hit a high of 1.30 in recent trading, driven by a weaker US dollar and expectations of a rate cut by the Federal Reserve. (Source: Bloomberg)

Upcoming Events:

  1. UK Budget Announcement: The UK Chancellor of the Exchequer is set to announce the country's budget on March 11, which could have implications for the economy and the GBP/USD currency pair.
  2. US Non-Farm Payrolls: The US Labor Department is set to release its non-farm payrolls report on March 6, which could impact the US dollar and the GBP/USD currency pair.
  3. BoE Inflation Report: The BoE is set to release its inflation report on March 18, which could provide insights into the bank's inflation expectations and monetary policy outlook.

Technical Analysis:

The GBP/USD currency pair has been trading in a range of 1.25 to 1.30 in recent weeks. The pair has been supported by a weaker US dollar and expectations of a rate cut by the Federal Reserve. However, the pair is also facing resistance at the 1.30 level, which could limit its upside potential.

Fundamental Analysis:

The GBP/USD currency pair is influenced by a range of factors, including the UK's economic growth prospects, interest rates, and inflation expectations. The pair is also sensitive to global events, such as the US-China trade tensions and the impact of Brexit on the UK economy.

Trading Recommendations:

Based on the recent economic news and technical analysis, here are some trading recommendations:

Please note that these are just trading recommendations and not investment advice. It's always important to do your own research and consider your own risk tolerance before making any trading decisions.