GBP/USD climbs to one-week highs at 1.3780 as USD holds onto losses
US dollar tumbles after Fed Chair Powell speech at Jackson Hole symposium. Cable soars on Friday, trims half of last week’s losses. The GBP/USD pair rose sharply on Friday and extended weekly gains. It is about to end the week hovering around 1.3765, up almost 150 pips from a week ago. Read more...
GBP/USD Weekly Forecast: US Nonfarm Payrolls to determine if “Death Cross” pattern is triggered
GBP/USD has benefited from optimism about covid and Fed tapering. US Nonfarm Payrolls and covid headlines promise a busy back-to-school week. Late August\s daily chart is showing bears are in the lead. To taper or not to taper? For a full week, that has been the question, and optimism for more Fed support fueled a recovery. However, they can have only been kicked toward the all-important US jobs report, assuming that UK covid cases remain under control. Read more...
GBP/USD Forecast: Powell to the rescue? Pound technicals and fundamentals point lower
When a currency cannot hold up when all others are in suspense – its weakness is exposed. GBP/USD has been on the back foot, struggling to hold onto 1.37 while investors are holding their breaths toward a critical event. Federal Reserve Chair Jerome Powell is set to provide signals about tapering the bank's bond-buying scheme in the virtual Jackson Hole speech. Read more...
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AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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