Share: EUR/GBP oscillates around the 0.8604–24 region in a narrow trading band. The German Harmonized Index of Consumer Prices (HICP) came in at 6.5%, as expected. The Bank of England (BoE) policymaker said interest rates were … [Continue reading]
GBP/USD Price Analysis: Cable justifies downbeat UK retail spending to reverse from 50-SMA to 1.2750
Share: GBP/USD prints the first daily loss in three, holds lower grounds of late. UK BRC Retail Sales suggest the lowest public spending in 11 months. 50-SMA precedes 1.2825-30 resistance confluence to test Pound Sterling buyers. Upbeat oscillators … [Continue reading]
AUD/USD edges higher towards 0.6600 ahead of China/US trade numbers amid mixed markets
Share: AUD/USD remains defensive after bouncing off two-month low, following a three-day uptrend. Mixed sentiment, light calendar allow Aussie pair to grind higher. Risk catalysts remain mostly unimpressive, seek fresh clues to entertain momentum … [Continue reading]
BoE’s Pill: Latest data points to more persistent inflation
Share: Bank of England (BoE) Chief Economist Huw Pill said on Monday that there are risks on both sides of UK inflation. According to him, inflation is likely to return to the target during the first half of 2025. He expects inflation to fall to 5% … [Continue reading]
Fed’s Bowman: Additional rate hikes will likely be needed to lower inflation to target
Share: In remarks prepared for delivery to a "Fed Listens" event in Atlanta, Federal Reserve (Fed) Governor Michelle Bowman said that additional rate increases will likely be needed to lower inflation back to target, per Reuters. Bowman … [Continue reading]
Gold price retraces as mixed labor data report lose appeal ahead of inflation data
Share: Gold price drops sharply amid strength in the US Dollar as focus shifts to US CPI. Fed’s Bostic supports the continuation of the rate-tightening cycle amid resilience in consumer spending. JP Morgan looks confident that the US economy will … [Continue reading]
GBP/USD trades with a mild negative bias, below mid-1.2700 amid reviving USD demand
Share: GBP/USD attracts some sellers on Monday and is pressured by modest USD strength. Bets for more interest rate hikes by the Fed help revive demand for the Greenback. The BoE’s less hawkish forward guidance also contributes to the mildly … [Continue reading]
USD/CHF recovers some lost ground above 0.8740 area ahead of the Swiss Unemployment data
Share: USD/CHF gains traction around 0.8742, up 0.19% for the day. The July employment and wage inflation report on Friday showed mixed results. President Joe Biden is likely to announce an executive order restricting US investments in China. … [Continue reading]
Crypto bills in the US are likely to face hostility from the Senate and White House, according to experts
Share: Director of government relations for the US Blockchain Association believes that the market structure bill is probably a two-year thing. Analysts at CoinDesk believe that the bill could face a potentially hostile Senate and White … [Continue reading]
Chainlink price likely to rally as CCIP testnet activity gathers steam
Share: Chainlink network’s CCIP testnet has been subjected to interesting activity like digital coin transactions of the Australian, New Zealand and Singapore Dollar. Multiple transactions on the CCIP testnet have bridged stablecoins between … [Continue reading]