Category Archives: Forex News

GBP/USD: The Dollar weakens after poor US labour data

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FXstreet.com (Barcelona) – The Dollar weakness has extended in early U.S, session, with the British Pound rising above 1.450 Dollars for the first time in three weeks, as the ActionForex technical Team explains: “GBP/USD’s rise from 1.4350 extends further to as high as 1.5129 and at this point, intraday bias remains on the upside as long as 1.4805 minor support holds.”

Next resistance and support levels, according to the ActionForex technical Team, stand as follows: “Current rally is expected to be limited below 1.5722 resistance and bring resumption of medium term down trend. Below 1.4805 will flip intraday bias back to the downside for retesting 1.4350 low.”

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UK BRC shop prices index drops sharply in December

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FXstreet.com (Barcelona) – Shop prices have posted a sharp deceleration in the UK in December from the previous month, reflecting important discount on High Street as well as the VAT reduction, according to data released by the British Retail Consortium.

Year on year, shop prices index have increased a mere 0.5% in December, down from the 2.7% year on year rise posted in November. Food prices, however, have increased 6.2% year on year offsetting the 2.4% yearly decrease in non-food prices.

Month on month, shop prices have declined 2.0%, with food prices 0.7% lower than the month before, and non-food prices 2.7% below the level posted last month.

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