GBP/USD dips as markets eye BoE’s rate decision as a strong USD sets the tone
GBP/USD reverses its course late in the European session amidst a low-volume trading day in the FX space, with US markets closed due to a holiday. A risk-off impulse weighs on the Pound Sterling (GBP), which is set to outperform the greenback, as the Bank of England (BoE) is expected to deliver a rate hike on Thursday. The GBP/USD is trading at 1.2793, down a modest 0.19%. Read More...
Pound Sterling retreats ahead of key inflation data
The Pound Sterling (GBP) is correcting lower on Monday and trading at around 1.2800 after showing a big bullish performance last week, rallying to levels not seen since April 2022, near 1.2850. Investors are keeping an eye on the United Kingdom’s key inflation data, to be released on Wednesday at 6 GMT. The GBP/USD pair is showing a severe contraction in volatility to start the week, ahead of the release of key price indicators, which will provide guidance about the interest rate policy from the Bank of England (BoE). Read More...
GBP/USD: Focus now shifts to 1.2900 – UOB
In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, extra gains could lift GBP/USD to the 1.2900 region in the next few weeks. Read More...
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EUR/USD continues to grind out further losses
EUR/USD continued to drift into the basement on Wednesday, clipping into a 54-week low and settling within touch range of 1.0550. Fiber continues to shed weight on the charts as broader FX markets pivot full-bore into holding the Greenback.
GBP/USD sheds weight for a fourth straight day on Wednesday
GBP/USD eased further into the low end on Wednesday, trimming further south of the 200-day Exponential Moving Average in a one-sided bearish decline as the pair closes in the red for a fourth consecutive trading day.
Gold price remains vulnerable near its lowest level since September 19
Gold price enters a bearish consolidation following a four-day decline to a nearly two-month low amid oversold conditions on hourly charts. Any meaningful recovery, however, seems elusive amid the recent USD bullish run to a fresh YTD low, bolstered by expectations for US President-elect Donald Trump's expansionary policies and elevated US bond yields.
Dogecoin Price Forecast: Miners offload $240M as DOGE approaches risk zone
Since Donald Trump’s victory on November 5, Dogecoin has emerged as the best performing asset among the top 10 ranked cryptocurrencies. On November 12, DOGE reached a new milestone price propelled by Trump’s statement confirming Elon Musk’s involvement in the incoming administration.
Trump vs CPI
US CPI for October was exactly in line with expectations. The headline rate of CPI rose to 2.6% YoY from 2.4% YoY in September. The core rate remained steady at 3.3%. The detail of the report shows that the shelter index rose by 0.4% on the month, which accounted for 50% of the increase in all items on a monthly basis.
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