Share: GBP/USD drops to 1.2638 on the modest rebound in USD, softer UK inflation data. The annual rate of Existing Home Sales climbed to 3.82M in November, better than the 3.77M expected. November’s UK CPI figure climbed 3.9% MoM vs. 4.6% prior, … [Continue reading]
EUR/USD Forecast: Risks starting to tilt to the downside
Share: The US Dollar Index modestly rises but continues to face pressure. Upside potential in EUR/USD remains limited while below 1.1000. Data scheduled in the US on Thursday includes Jobless Claims, Philly Fed, and Q3 GDP. The EUR/USD dropped … [Continue reading]
United States EIA Crude Oil Stocks Change registered at 2.909M above expectations (-2.233M) in December 15
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
EUR/GBP to gradually climb toward 0.90 next year – SocGen
Share: Over the last year, EUR/GBP has averaged 0.87, trading roughly in a 0.85-0.90 range. Economists at Société Générale analyze the pair’s outlook. EUR/GBP on the rise – buy gilts Our forecast for 2024 looks for a gradual climb to 0.90, as the … [Continue reading]
USD/INR gathers strength despite softer USD, US GDP data eyed
Share: Indian Rupee edges lower despite the softer USD. The Reserve Bank of India (RBI) pushed back against the IMF, saying the intervention in the currency market was excessive. Q3 US GDP growth, Core Personal Consumption Expenditures Price … [Continue reading]
NZD/USD loses gains above the mid-0.6200s, eyes on US housing data
Share: NZD/USD loses ground around 0.6261 in the Asian session on Wednesday. RBNZ Governor Adrian Orr said that they were surprised by GDP data last week, indicating the economy shrank. Investors anticipate the Fed to keep rates steady at its … [Continue reading]
EUR/GBP bulls show resilience and trim daily losses
Share: EUR/GBP shows mild losses at 0.8630, after bottoming at a low of 0.8600. The daily chart delivers mixed signals with a bearish RSI and bullish MACD. Recently, the four-hour chart indicators gained ground, and bulls are in command. On … [Continue reading]
Mexican Peso skyrockets and prints a three-month high against the US Dollar
Share: Mexican Peso advances against the US Dollar, USD/MXN threatens 17.00 support area. Mexico’s economic docket ahead includes Retail Sales on Wednesday, followed by Thursday’s inflation data. US housing data was solid but failed to move the … [Continue reading]
EUR/GBP falls sharply to near 0.8600 ahead of UK CPI data
Share: EUR/GBP drops swiftly to near 0.8600 ahead of UK Inflation data. BoE Broadbent warned that higher wage growth could keep interest rates higher for a longer period. ECB Villeroy signalled that the rate-tightening regime has come to an end. … [Continue reading]
Pound Sterling remains on the back foot ahead of UK Inflation data
Share: Pound Sterling remains offered as investors turn cautious ahead of UK inflation data. The UK inflation is seen falling further due to BoE’s tight interest rate policy. BoE Broadbent turns spotlight on wage growth related inflation. The … [Continue reading]