Pound Sterling continues to extend gains amid the ongoing UK elections
The Pound Sterling (GBP) continues its winning streak, which began on June 27. The GBP/USD pair trades around 1.2750 during the Asian session on Thursday, which could be attributed to the softer data released from the United States (US) on Wednesday.
Markets are expected to closely monitor the UK general elections on Thursday. Britain appears poised to elect Labour Party leader Keir Starmer as its next prime minister, ousting Rishi Sunak's Conservatives after 14 often turbulent years. A forecast by polling company Survation, as reported by Reuters on Tuesday, predicts the Labour Party will win a record number of seats in the national election. Read more...
GBP/USD jumps higher on broad-market Greenback weakness
GBP/USD extended a near-term rebound on Wednesday, bolstered by a broad softening in US economic figures in the midweek market session. Thursday’s upcoming UK election will draw plenty of attention from Cable traders as US markets hunker down for the wait through Thursday’s market holiday.
US ADP Employment Change fell to 150K in June, down from the previous month’s 157K and missing the forecast increase to 160K. Looking deeper into the ADP’s report, many of the already-lower job additions were concentrated in lower-paying leisure and hospitality industries. Read more...
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GBP/USD remains stronger as a Labour majority could lead to political stability
The Pound Sterling extends its winning streak, which began on June 27. The GBP/USD pair trades around 1.2740 during the Asian session on Thursday, which could be attributed to the softer data released from the United States on Wednesday.
EUR/USD holds position around 1.0800 as softer US data escalate odds of Fed rate cuts
EUR/USD continues its winning streak, trading around 1.0790 during the Asian session on Thursday. This upside is attributed to a decline in the US Dollar due to the escalated speculations of the Federal Reserve reducing interest rates in 2024.
Gold looks north amid light trading, focus shifts to US NFP
Gold price is looking to extend the previous upsurge early Thursday, sitting at the highest level in over a week near $2,360. Sustained US Dollar weakness alongside sluggish US Treasury bond yields underpin Gold price amid the July 4 US holiday-thinned market conditions.
Binance coin poised for an 11% crash
Binance Coin breached its ascending trendline support on Wednesday and declines 3% on Thursday. On-chain analysis reveals a long-to-short ratio below one, indicating bearish sentiment and suggesting a potential price downturn for BNB in the days ahead.
Could the post-UK elections market moves resemble 1997 and 2010?
Thursday's UK elections expected to bring political change. Similar developments in both 1997 and 2010 weighed on the Pound. History points to a significant easing in Pound volatility across the board. Recent FTSE 100 performance matches the 2015 pre-election moves.