GBP/USD Price Analysis: Bearish harami confirmed as Pound slumps below 1.2700
The Pound Sterling dropped sharply below the 1.2700 figure as risk aversion took its toll on most G7 currencies, except for safe-haven peers like the Greenback. Political turmoil in Europe sent the Euro collapsing against the Swiss Franc, while the GBP/USD falls 0.62% and traded at 1.2683 at the time of writing. Read More...
Pound Sterling plunges against US Dollar on Fed’s hawkish outlook
The Pound Sterling (GBP) weakens further to near 1.2660 against the US Dollar (USD) in Friday’s American session as the latter rallies. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, extends its upside to 105.75. The USD Index rises for a second consecutive day, as the hawkish stance of the Federal Reserve (Fed) on the interest rate outlook has outweighed the impact of the soft United States (US) Consumer Price Index (CPI) and Producer Price Index (PPI) reports for May. Read More...
GBP/USD Price Analysis: Needs to find acceptance above 1.2800 for bulls to seize control
The GBP/USD pair trades with a negative bias for the second straight day on Friday, albeit manages to hold its neck above the previous day's swing low. Spot prices currently hover around the mid-1.2700s and seem poised to register modest weekly gains amid subdued US Dollar (USD) price action. Read More...
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EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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