GBP/USD Price Forecast: Rebounds above 1.2700 on risk-on mood
The Pound Sterling bounced off daily/weekly lows and rose above the 1.2700 figure on Wednesday as risk appetite improved after a Bank of Japan (BoJ) official commented the BoJ wouldn’t raise rates amid market instability. Therefore, the GBP/USD trades at 1.2720 after touching a low of 1.2680. Read More...
GBP/USD moves above 1.2700 due to rising odds of a Fed rate cut in September
GBP/USD retraces its recent losses, trading around 1.2710 during the Asian session on Wednesday. This upside could be attributed to the tepid US Dollar (USD) following the rising expectations of a more aggressive rate cut starting in September after the weaker US employment data in July raised the fear of a looming US recession. Read More...
GBP/USD withers into a fresh five-week low
GBP/USD backslid nearly a full percent on Tuesday as the Pound Sterling continues to deflate against the broader FX market. The US Dollar found a soft patch as markets pivot back into a risk-on stance fueled by ongoing hopes for a September rate cut from the Federal Reserve (Fed), but a rapidly-depreciating GBP sent Cable into fresh five-week lows just south of 1.2700. Read More...
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AUD/USD maintains its constructive outlook and looks at 0.6600
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EUR/USD meets firm contention near 1.0900
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Gold stabilized just ahead of $2,400
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Calmer atmosphere prevails in stock markets
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Stock markets continue to calm after Monday’s madness, while a slump in US oil inventories shows there is nothing with American oil demand following Friday’s shock job numbers, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.