The Sterling Pound gained around 0.1 percent yesterday on the back of favorable economic data from the country.
However, strength in the DX capped sharp gains in the Sterling Pound. Further, weak market sentiments in later part of the trade exerted downside pressure on the Sterling Pound. The currency touched an intra-day high of 1.6918 and closed at 1.6891 on Thursday.
UK’s Nationwide House Price Index (HPI) increased by 1.2 percent in April from 0.5 percent in March. Manufacturing Purchasing Managers' Index (PMI) gained by 1.5 points to 57.3-mark in April as against a rise of 55.8-level in March. Net Lending to Individuals was at 2.9 billion Pounds in March with respect to 2.1 billion Pounds a month ago.
In today’s trade, the Sterling Pound is likely to trade on a negative note on the back of strength in the DX. Further, mixed market sentiments will exert downside pressure in the currency. Additionally, estimates of fall in construction data from the country will act as a negative factor.
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However, strength in the DX capped sharp gains in the Sterling Pound. Further, weak market sentiments in later part of the trade exerted downside pressure on the Sterling Pound. The currency touched an intra-day high of 1.6918 and closed at 1.6891 on Thursday.
UK’s Nationwide House Price Index (HPI) increased by 1.2 percent in April from 0.5 percent in March. Manufacturing Purchasing Managers' Index (PMI) gained by 1.5 points to 57.3-mark in April as against a rise of 55.8-level in March. Net Lending to Individuals was at 2.9 billion Pounds in March with respect to 2.1 billion Pounds a month ago.
In today’s trade, the Sterling Pound is likely to trade on a negative note on the back of strength in the DX. Further, mixed market sentiments will exert downside pressure in the currency. Additionally, estimates of fall in construction data from the country will act as a negative factor.
www.punjiniveshonline.com
www.punjiniveshonline.com
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