GBP/USD rebounds strongly amid Fed rate cut speculations, rises above 1.2700
The GBP/USD snapped two days of losses and rallies during the mid-North American session on Tuesday, gaining more than 0.70% after bouncing off daily lows of 1.2632. The major is exchanging hands at 1.2737, boosted by speculations the US Federal Reserve (Fed) would lower borrowing costs before the Bank of England (BoE). Read More...
Pound Sterling advances amid improved market mood, UK Inflation in focus
The Pound Sterling (GBP) extends recovery ahead of the United Kingdom Consumer Price Index (CPI) for November, scheduled for release on December 20. Investors see the UK’s headline and core inflation declining further in November as higher interest rates have dampened household spending on core goods. Prices of goods at factory gates are seen contracting due to poor demand from the slowing domestic and international economy. Read More...
GBP/USD snaps the two-day losing streak around the mid-1.2600s
The GBP/USD pair snaps its two-day losing streak during the early Asian session on Tuesday. The rebound of the pair is bolstered by the weaker US Dollar (USD) and the lower US Treasury bond yields. Investors await the UK inflation data, due on Wednesday. The annual CPI and Core CPI figures are estimated to show an increase of 4.4% YoY and 5.5% YoY in November, respectively. The major pair currently trades near 1.2653, up 0.05% on the day. Read More...
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AUD/USD: Extra upside now looks at 0.6550
AUD/USD managed to leave behind Tuesday’s strong decline and printed a decent recovery on Tuesday, retesting the 0.6500 zone amid the broad-based retracement in the US Dollar.
EUR/USD need to clear 1.0600 to allow for further advances
The strong sell off in the Greenback encouraged EUR/USD to set aside the previous day’s pullback and refocus on a potential visit to the key barrier at 1.0600 the figure ahead of key data releases in the euro area later in the week.
Gold eases from daily highs as bears seize control
Gold remains on the positive foot near $2,640 per troy ounce, as US inflation data matched initial estimates in October, while US yields display a negative performance across the curve.
Ethereum Price Forecast: ETH surges 9% with increased capital inflows, bulls set sights on $4,522
Ethereum (ETH) rallied 9% on Wednesday following increased capital inflows into ETH ETFs and a major uptick in its open interest and futures premium. If the bullish momentum sustains, ETH could overcome its yearly high resistance of $4,093 and rally to $4,522.
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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