GBP/USD Forecast: Sterling set to benefit from UK reopening and global cooldown
GBP/USD has been trying to find its feet after falling last week. Concerns about global growth could keep the dollar depressed. Optimism about the UK's reopening may push sterling higher. Tuesday's four-hour chart is painting a mixed picture. The latest round of easing has begun on Monday, and it also includes more leisure activities. Is it already priced into the pound? Read more...
GBP/USD Forecast: UK reopenings underpin the pound
The GBP/USD pair surged in the final trading session on Monday to 1.4146, holding nearby ahead of the Asian opening. The pair quickly reverted dips below the 1.4100 threshold, as optimism on reopenings underpinned the pound. According to the latest data available, shoppers in Britain were up 0.5% in the week ended May 15, as the country prepared for indoor hospitality. Read more...
GBP/USD analysis: Remains near 1.4100
The GBP/USD currency exchange rate managed to pierce the resistance zone of the 1.4105/1.4110 zone. However, the pair immediately found resistance in the 1.4120 level. In the meantime, on Monday, the currency rate was ignoring the 1.4100 mark, the 100-hour simple moving average and the weekly simple pivot point at 1.4091. Read more...
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EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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