GBP/USD aims for a bullish breakout [Video]
GBPUSD was stubbornly pushing for a close above the 1.2280 bar during Tuesday’s early European trading hours despite six consecutive failed attempts.
From a technical perspective, the short-term bias remains skewed to the upside as the RSI and the MACD are clearly fluctuating within the bullish area. Yet, the former is maintaining a sideways trajectory, suggesting that some caution is warranted. Read more...
GBP/USD outlook: High inflation and growing expectations for further rate hikes keep pound supported
Cable edged lower in European trading on Tuesday, after attempts at pivotal barrier at 1.2343 (Mar 23 high) stalled just under the target but keeps overall firm bullish stance.
The latest inflation data and comments from BOE Governor Bailey fuel expectations for further rate hikes, which underpins the pound.
Governor Bailey highlighted that fighting inflation remains the key job for BOE policymakers and recent rising worries about the health of global banking system should not obstruct their primary task. Read more...
GBP/USD: Balancing between its yearly high, and its support level
Looking at GBPUSD’s chart, we can see that the FX pair is traded at around the rate of $1.2318 with an upward direction towards the year’s high which is located at around $1.24. Today, we could expect it to test the resistance level at around $1.2340 and if it is able to pass it, then we should expect it to rise towards the level of $1.24. If it is not able to pass it, then it should retreat towards its support level at around $1.2270. 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 extends slide to fresh two-month low
After shedding some ground throughout the first half of the day, the US Dollar is back in fashion. XAU/USD trades at its lowest in two months in the $2,580 region and is technically poised to extend its slump.
Australia unemployment rate expected to remain steady for third straight month in October
The Australian Unemployment Rate is foreseen stable at 4.1% in October. Employment Change is expected at 25K, much lower than the 51.6K posted in September. AUD/USD is under pressure and may soon pierce the 0.6500 mark.
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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