GBP/USD Price Forecast: Tumbles to two-month low below 1.3000 on soft UK CPI
The Pound Sterling dived following a softer-than-expected UK inflation report, which dragged the GBP/USD exchange rate to a two-month low of 1.2981. Although it has recovered some ground, the pair is losing 0.49% and trades at 1.3008 at the time of writing. Read More...
Pound Sterling tumbles as dovish BoE bets swell after soft UK Inflation
The Pound Sterling (GBP) faces an intense sell-off as the United Kingdom (UK) Office for National Statistics (ONS) has published a soft Consumer Price Index (CPI) report for September. The CPI report showed that the annual headline inflation softened to 1.7%. Price pressures were expected to decelerate but at a slower pace to 1.9% from 2.2% in August. Month-on-month headline inflation remained flat. Read More...
GBP/USD Price Forecast: Remains confined in a range below 1.3100 ahead of UK CPI
The GBP/USD pair extends its sideways consolidative price move on Wednesday and remains confined in a familiar range held over the past week or so. Spot prices currently trade around the 1.3070-1.3075 region, nearly unchanged for the day, as traders opt to wait on the sidelines ahead of the UK consumer inflation figures. Read More...
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AUD/USD: Next on tap comes the 200-day SMA
There was no respite for the selling pressure in AUD/USD, with the pair this time breaking below the key 0.6700 support level and opening the door to a potential visit to the key 200-day SMA at 0.6626.
EUR/USD: The ECB could accelerate the decline
EUR/USD retreated for the sixth consecutive day on Wednesday, breaching the critical 200-day SMA and hitting new two-month lows around 1.0860 ahead of the key interest rate decision by the ECB on Thursday.
Gold fresh record highs at sight
Gold price scales higher for the second straight day on Wednesday – also marking the fourth day of a positive move in the previous five – and climbs toward the all-time-high it set at $2,685 in late September.
Australian unemployment rate expected to stabilize for third consecutive month in September
The Australian Unemployment Rate is foreseen stable at 4.2% in September. Employment Change is expected at 25K, focus will be on the details. AUD/USD is technically bearish, so any data-inspired spike may attract sellers.
British inflation dips to 1.7% in September
And speaking of inflation and Europe, inflation in Britain not only fell below 2% in September but came in significantly lower than expected (1.7%y-o-y vs 1.9% expected).
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