GBP/USD Weekly Forecast: Breaking out of range? Duo of central bank decisions to trigger action
Do current inflation trends warrant tightening policy anytime soon? The past week's latest figures have caused jitters, leaving investors confused. Central banks take the stage in the upcoming week, with the Fed's taper timing and the BOE's rate hike prospects critical for GBP/USD. Read more...
GBP/USD reaches a weekly low beneath 1.3750 on disappointing UK Retail Sales
GBP/USD is sliding in the American session to new weekly lows, trading at 1.3754, down 0.26% at the time of writing. As we approach the London Fix and head into the weekend, we could expect some downward pressure on the back of the dampened market sentiment. Read more...
GBP/USD Forecast: More sterling gains? Three higher lows and improving market mood point up
On Thursday, the dollar attracted safe-haven flows that came as US stocks suffered another down day – for no fundamental reason. US Retail Sales figures showed an increase of 0.8% in August, far better than a drop that was expected. On the other hand, inflation is off the highs, as shown by Consumer Price Index figures and by more recent surveys. 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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