GBP/USD Fed Chair Jerome Powell
GBP/USD Fed Chair Jerome Powell Fed Chair Jerome Powell acknowledged that the pace of quarter-point interest-rate increases is not set in stone, and a faster tightening of rates may be warranted if economic data indicates it is necessary. Powell’s follow-up testimony tomorrow will be his last scheduled public remarks on interest-rate policy before the Fed’s […]
GBP/USD Could Recover If Bulls Clear This Hurdle
GBP/USD Could Recover If Bulls Clear This Hurdle GBP/USD retested key 1.1920 support zone. A major bearish trend line is forming with resistance near 1.2060. EUR/USD is attempting a recovery wave above the 1.0600 resistance zone. Gold price is struggling to stay above the $1,800 support. The British Pound started a fresh decline from well […]
GBP/USD Drifting: The British Pound Is Drifting
GBP/USD Drifting: The British Pound Is Drifting The British Pound is drifting for a third day straight. In the European session, GBP/USD is trading at 1.2161, down 0.09%. We could see stronger volatility from the pound before the weekend, with the release of the US inflation report and UK GDP on Friday, both of which […]
Bank of England’s Monetary Policy Committee Preview
Bank of England’s Monetary Policy Committee Preview The Bank of England’s Monetary Policy Committee will meet tomorrow to decide on interest rates. The MPC meeting will be sandwiched between FOMC rate decision that will have taken place today, and the ECB rate decision that would follow an hour and a bit later. The GBP/USD, EUR/GBP […]
Upcoming Market Updates: JPY, AUD, CHF, EUR, GBP, USD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: JPY, AUD, CHF, EUR, GBP, USD JPY: Prelim Industrial Production m/m, it measures Change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. JPY: Retail Sales y/y, it measures Change in the total value of sales at the retail level. AUD: MI Inflation Gauge m/m, it […]
EUR/USD trades below 0.9535 as US dollar recovers
EUR/USD trades below 0.9535 as US dollar recovers EUR/USD updated another 20 years low last month, lowest at 0.9535. This was followed by a correction, and the pair came close to the equality level on Tuesday, October 04, rising to 0.9999. However, the happiness of the bulls was short, followed by another reversal to the […]
EUR/USD approaches 0.9600 lows as recovery loses
EUR/USD approaches 0.9600 lows as recovery loses There was a sharp movement in euro which may be missed. The single currency dropped to a fresh low on the year against the greenback, reaching a low of 0.9551 before bouncing back to hit 0.9700, from where it has since drifted back lower. The EUR/USD has now […]
GBP down during Asian Trade
GBP down during Asian Trade The pound was aggressively lower during Asian trade. CME stopped trading of GBP futures. GBP/USD touched a record low. Combination of the UK’s mini budget and flight to the dollar weigh on sterling. The GBP was already facing heavy selling pressure on Friday when the UK’s new chancellor unveiled his […]
What will happen to GBP/USD if the UK surprises with higher CPI?
What will happen to GBP/USD if the UK surprises with higher CPI? US released its August CPI report. The headline was 8.3% YoY and expectation of 8.1% YoY and a July reading of 8.5% YoY. Headline inflation is decreasing. However, the Core CPI print for August was 6.3% YoY vs an expectation of 6.1% […]
Liz Truss Defeats Rishi Sunak To Become New UK PM
Liz Truss Defeats Rishi Sunak To Become New UK PM Liz Truss will become the new UK prime minister on Tuesday after defeating Rishi Sunak in the Tory leadership contest today. The result was closer thank many people had expected, with Truss taking 57% of votes cast. The markets hardly reacted to the news, not […]