GBP/USD steady as Fed cut rates, traders await Powell’s guidance
The GBP/USD barely moved after the Federal Reserve (Fed) cut rates by 25 basis points (bps) to the 4.50%—4.75% range. At the time of writing, the pair is at 1.2963, up 0.64%, as traders brace for Fed Chairman Jerome Powell's press conference. Read More...
Pound Sterling rises after BoE cuts interest rates by 25 bps, Fed policy awaited
The Pound Sterling (GBP) gains against its major peers on Thursday as the Bank of England (BoE) reduces its interest rates by 25 basis points (bps) to 4.75%. Out of the nine-member-led Monetary Policy Committee (MPC), eight members voted for a rate cut, while external policy member Catherine Mann favored keeping interest rates steady. Economists had anticipated that two MPC members would support leaving interest rates at their current levels. Read More...
GBP/USD moves away from multi-month low, retakes 1.2900 ahead of BoE/Fed
The GBP/USD pair attracts some buyers during the Asian session on Thursday and moves away from its lowest level since mid-August, around the 1.2835-1.2830 region touched the previous day. Spot prices now look to build on the momentum beyond the 1.2900 mark as the market attention shifts to key central bank event risks. Read More...
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AUD/USD remains on track to snap five weeks of losing streak
AUD/USD consolidates the previous day's strong move up to over a two-week high and remains on track to register gains for the first time in six weeks. The unwinding of the Trump trade, the Fed's failure to indicate that it was likely to pause rate cuts, the RBA's hawkish stance and hopes for more stimulus from China act as a tailwind for the Aussie.
USD/JPY holds steady above 153.00; intervention fears might cap gains
USD/JPY edges higher on Friday and reverses a part of the previous day's corrective slide from its highest level since July 30. The upbeat market mood and the BoJ rate-hike uncertainty undermine the safe-haven JPY. That said, speculations that Japanese authorities might intervene in the markets could cap the pair.
Gold price consolidates above $2,700 amid mixed cues
Gold price hovers above $2,700 during the Asian session on Friday and looks to build on the overnight solid recovery from the vicinity of the 50-day SMA support, or over a three-week low. In the absence of strong hawkish signals from the Fed, the unwinding of the so-called Trump trade and retreating US bond yields keep the USD bulls on the defensive.
XRP needs to overcome trendline resistance to stage rally, investors step up buying pressure
XRP exchange reserves across the Binance and Upbit crypto exchanges have begun trending downward after rising by nearly 62 million XRP between November 3 and 5.
Outlook for the markets under Trump 2.0
On November 5, the United States held presidential elections. Republican and former president Donald Trump won the elections surprisingly clearly. The Electoral College, which in fact elects the president, will meet on December 17, while the inauguration is scheduled for January 20, 2025.
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