Pound Sterling steadies in calm start to UK/US Inflation
The Pound Sterling (GBP) gains against its major peers, except the Australian Dollar (AUD) and the New Zealand Dollar (NZD), in Monday’s New York session. The British currency strengthens, with investors focusing on the United Kingdom (UK) Employment data for the three months ending June and the Consumer Price Index (CPI) data for July, which will be published on Tuesday and Wednesday, respectively. Read More...
GBP/USD Price Forecast: Stalls around 1.2780, risks skewed to the downside
The Pound Sterling consolidates around the 1.2758 area on Monday, extending its gains for three straight days. However, it faces strong resistance at the 50-day moving average (DMA) at 1.2784, which quickly rejected the GBP/USD, which trades virtually unchanged, up 0.02%. Read More...
GBP/USD Price Forecast: Remains above 1.2750 with testing nine-day EMA
GBP/USD pauses its two-day advance, trading around 1.2760 during the Asian session on Monday. The daily chart analysis shows the pair is consolidating within a descending channel, indicating a bearish bias. Read More...
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EUR/USD struggles to hold above 1.0400 as mood sours
EUR/USD stays on the back foot and trades slightly below 1.0400 following the earlier recovery attempt. In the absence of high-tier data releases, the negative shift seen in risk mood helps the US Dollar gather strength and forces the pair to stretch lower.
GBP/USD declines toward 1.2500 on renewed USD strength
GBP/USD loses its traction and declines to the 1.2500 area in the second half of the day on Monday. The US Dollar (USD) benefits from safe-haven flows and weighs on the pair as investors await US Consumer Confidence data for December.
Gold drops below $2,620 as US bond yields edge higher
After starting the week in a quiet manner, Gold comes under bearish pressure and retreats below $2,620. The benchmark 10-year US Treasury bond yield stays in positive territory above 4.5%, making it difficult for XAU/USD gain traction.
Bitcoin fails to recover as Metaplanet buys the dip
Bitcoin hovers around $95,000 on Monday after losing the progress made during Friday’s relief rally. The largest cryptocurrency hit a new all-time high at $108,353 on Tuesday but this was followed by a steep correction after the US Fed signaled fewer interest-rate cuts than previously anticipated for 2025.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
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