The U.S. releases key employment data later on Friday, which could shake up GBP/USD. Analysts are expecting strong numbers, which could boost the U.S. dollar. Nonfarm payrolls are projected to increase sharply to 181 thousand, compared to 128 thousand in the previous release. As well, wage growth is expected to rise from 0.2% to 0.3%. The UoM Consumer Sentiment index is also expected to climb to 97.0, up from 95.7 pts.
Technical Analysis
GBP/USD has moved some distance above 1.3100 and has moved close to resistance at 1.3200. This major line has held since late March, so it would be a significant development for the pair if this line is breached.
Pacific Currencies – Summary
USD/CNY
USD/CNY started the week with gains and climbed above climbed the 7.0700 line, its highest level since October 23. However, the yuan has managed to recover these losses, as the pair has retracted. The pair is currently at 7.0331, down 0.16% on the day.
AUD/USD
AUD/USD has reversed directions on Friday, and is trading at 0.6843, down 0.11% on the day. The pair has gained 1.2% this week, and is on track for its highest 1-week gain since late October.
NZD/USD
NZD/USD is currently trading at 0.6565, up 0.29% on the day. It has been a banner week for the pair, which is up 2.2% on the week. The New Zealand dollar is at its highest level since early August.