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GBP/USD ticks higher to 1.3025 area on softer USD, BoE rate-cut bets cap gains
GBP/USD recovers further from a two-month low, albeit the upside potential seems limited. The USD bulls opt to take some profits off the table, which, in turn, lends support to the pair. An unexpected fall in the UK inflation reaffirms bets for more BoE rate cuts and caps the GBP.
Gold captures $2,700 for first time ever, what’s next?
Gold price is sitting at the highest level on record above $2,700 early Friday, with the latest uptick led by China’s stimulus optimism and a broad-based US Dollar pullback. The focus now shifts to the Middle East geopolitical updates and Fedspeak for further trading impetus.
EUR/USD appreciates to near 1.0850 despite less-dovish sentiment surrounding the Fed
The EUR/USD pair breaks its four-day losing streak, trading around 1.0840 during the Asian session on Friday. However, the US Dollar received support and reached a two-month high of 103.87 on Thursday, supported by a solid US Retail Sales report, which fueled expectations that the Federal Reserve may implement nominal rate cuts.
Dogecoin whale activity takes a hit, will DOGE price plummet?
Dogecoin notes a drop in the count and volume of whale transactions in the last two days. On-chain data from IntoTheBlock shows that whales have likely slowed down their activity.
Retail Sales post broad advance in September
Despite worries about the financial health of the consumer and potential weakening in the labor market, U.S. retailers had a solid month in September. Control group sales rose more than twice the expected amount, pointing to stronger Q3 consumer spending.
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