GBP/USD drops further to 1.3890, but secures weekly gains
Dollar gains momentum late on Friday and trims weekly losses. Cable heads for biggest weekly gain since May. Next week's key events: NFP and Bank of England meeting. The GBP/USD failed to hold to gains on Friday and tumbled to 1.3890, reaching the lowest levels since Wednesday. Despite the decline, cable is about to post the biggest weekly gain since early May, boosted by a weaker US dollar across the board. Read more...
GBP/USD Weekly Forecast: Will the Bank of England step out?
Improving COVID and strengthening economy encourage sterling. BoE meeting next week brings rate hike speculation. The contrast between Federal Reserve and BOE policies benefits the pound. The rapidly improving coronavirus situation in the UK, a strengthening economy and rising inflation helped propel the sterling to its best close against the US dollar in a month. The GBP/USD rose 1.2% on the week, is up 2.1% since its low of 1.3628 eight sessions ago and reversed on Friday just shy of the 61.8% Fibonacci retracement of the May 31 to July 20 4.1% decline. Read more...
GBP/USD Analysis: Bulls remain in control, move beyond 1.4000 mark awaited
The GBP/USD pair reversed an intraday dip to the 1.3935 region and turned positive for the fifth consecutive session on Friday. The uptick pushed the pair back closer to the highest level since June 24 touched in the previous session and was sponsored by a combination of factors. The British pound has been one of the top-performing major currencies this week and was supported by falling COVID-19 cases in the UK. Read more...
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EUR/USD holds above 1.0400 in quiet trading
EUR/USD trades in positive territory above 1.0400 in the American session on Friday. The absence of fundamental drivers and thin trading conditions on the holiday-shortened week make it difficult for the pair to gather directional momentum.
GBP/USD recovers above 1.2550 following earlier decline
GBP/USD regains its traction and trades above 1.2550 after declining toward 1.2500 earlier in the day. Nevertheless, the cautious market mood limits the pair's upside as trading volumes remain low following the Christmas break.
Gold declines below $2,620, erases weekly gains
Gold edges lower in the second half of the day and trades below $2,620, looking to end the week marginally lower. Although the cautious market mood helps XAU/USD hold its ground, growing expectations for a less-dovish Fed policy outlook caps the pair's upside.
Bitcoin misses Santa rally even as on-chain metrics show signs of price recovery
Bitcoin (BTC) price hovers around $97,000 on Friday, erasing most of the gains from earlier this week, as the largest cryptocurrency missed the so-called Santa Claus rally, the increase in prices prior to and immediately following Christmas Day.
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