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Jan 05 - 07:55 AM

GBP/USD - Drops Towards 1.2650 Before US Jobs Report

By Rob Howard  —  Jan 05 - 06:00 AM
  • Cable falls to 1.2653 as dollar rises before US jobs report at 1330 GMT

  • 1.2653 is two-day low. Dec NFP forecast at 170k; jobless rate f/c at 3.8%

  • GBP/USD might extend south towards 1.2600 support level on big NFP beat

  • Bids ahead of 1.2600 based cable losses on Wednesday, Tuesday and Dec 21

  • In contrast, NFP miss could inflate GBP/USD towards 1.2728 (Thursday high)

  • UK Dec construction PMI 46.8 vs 46.0 f/c. Will UK election be on Nov 14?

Source:
Refinitiv IFR Research/Market Commentary

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