GBP/USD climbs on falling US yields, upbeat market mood
The GBP/USD recovered some ground against the US dollar on Tuesday during the mid-North American session amid a risk-on impulse and falling US Treasury bond yields. Investors seem confident that most global central banks will ease monetary policy, even though Fed Chair Jerome Powell pushed back against easing in March. At the time of writing, the pair exchanges hands at 1.2594. Read More...
Pound Sterling remains on edge as hopes of rate cuts from BoE escalate
The Pound Sterling (GBP) struggles to hold the recovery move in the European session on Tuesday as the near-term outlook for risk-sensitive assets is bearish. The appeal of safe-haven assets is broadly upbeat as investors see the Federal Reserve (Fed) not rushing to cut interest rates. Receding risks of a recession in the United States due to strong labor and retail demand are allowing plenty of time for Fed policymakers to decide on rate cuts. Read More...
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GBP/USD holds below 1.2550 amid firmer US Dollar
The GBP/USD pair drops to the multi-week low of 1.2518 and rebounds to 1.2535 during the early Asian session on Tuesday. The expectations of an early Federal Reserve (Fed) interest rate cut fade, and this lifts the US Dollar (USD) across the board. Meanwhile, the US Dollar Index (DXY) holds above 104.40 after retracing from a yearly high of 104.60. 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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