Wed, May 22, 2024

GBP/USD

GBP/USD: British pound sterling coins. Bank of England (BoE)

GBP/USD Rallies to 1.2710 as Investors Eye Key Data

Quick Look: GBP/USD rallied to 1.2710 in the early Asian session, reflecting anticipation rather than economic developments. Modest gains of 0.04%; cleared resistance levels indicate buyer momentum, yet downside risks remain. Resistance at $1.26 and $1.25; analysts see potential short-term rallies but overall downward pressure to $1.20. The GBP/USD pair trades positively around the 1.2710 …

GBP/USD Rallies to 1.2710 as Investors Eye Key Data Read More »

GBP/USD: British pound sterling coins. Bank of England (BoE)

GBP/USD Climbs 3.25%, Nears Critical Resistance at 1.2731

Quick Look: Surge: GBP rose 3.25% from its yearly low, nearing critical resistance. Key Resistance: 1.2731 (yearly open), 1.2773-1.2781 (Feb 2019 low), 1.2857 (yearly high-day close). Support Levels: 1.2575 (March low), 1.2535-1.2540 (200-day MA), 1.2423 (Dec 2022 high-day close). Events: Upcoming UK CPI and retail sales are pivotal for market sentiment. The British Pound has …

GBP/USD Climbs 3.25%, Nears Critical Resistance at 1.2731 Read More »

GBP/USD: British pound sterling coins. Bank of England (BoE)

BoE Holds Interest Rate at 5.25%, Awaiting Economic Shifts

Quick Look: BoE has decided to keep the interest rate unchanged at 5.25%. 7 out of 9 members supported the decision. GBP/USD saw fluctuations, trading between 1.2600 and 1.2500, with a slightly bearish market sentiment. The BoE signals caution in future rate cuts, dependent on inflation trends and economic data. In its latest policy meeting, …

BoE Holds Interest Rate at 5.25%, Awaiting Economic Shifts Read More »

GBP/USD: British pound sterling coins. Bank of England (BoE)

GBP/USD Down 3.7%, Tests Key Support at 1.2430

Quick Look:  GBP struggles at 1.2430 against USD, down 3.7% from March highs. CPI, retail data influence GBP/USD amid Fed and BoE rate speculations. Fed maintains firm stance on rates, BoE signals potential easing. GBP/USD faces critical support at 1.2337; traders adjust strategies amidst uncertainty. The British pound is currently on the back foot against …

GBP/USD Down 3.7%, Tests Key Support at 1.2430 Read More »

USD - Reflections and lessons learned

Currency Update: USD Weakens, EUR and GBP Rally

Quick Look: USD Index drops to 104.00, weakened by subpar economic indicators, hinting at investor unease. Euro and Pound gain on optimism, breaking key technical levels. WTI crude >$86/bbl, Gold nears $2,300/oz, Silver >$27/oz. Influences market sentiments with varied forecasts for major currencies. The USD Index (DXY), a barometer for the U.S. dollar’s strength against …

Currency Update: USD Weakens, EUR and GBP Rally Read More »

Wibest – the aud: Austalian dollar bills.

AUD Market Analysis: Key Trends & Numbers

Quick Look: AUD/USD is close to crucial support, hinting at possible further declines or a bullish reversal. EUR/USD approaches a support zone, with its future direction depending on its resilience. GBP/USD’s fluctuations around its SMA indicate uncertainty in its next movement direction. EUR/AUD maintains a neutral to cautiously bullish outlook, influenced by iron ore prices …

AUD Market Analysis: Key Trends & Numbers Read More »

GBP/USD: British pound sterling coins. Bank of England (BoE)

GBP/USD Dives Below 1.27: BoE’s Dovish Shift Shakes Markets

Quick Look: GBP/USD fell over 100 pips, dropping below 1.2700 after the Bank of England’s dovish signals. Bank of England (BoE) maintains interest rates above 5% with a cautious outlook amid global uncertainties. UK inflation falls, offering BoE policy flexibility, while US durable goods orders show improvement. In the intricate world of forex trading, the …

GBP/USD Dives Below 1.27: BoE’s Dovish Shift Shakes Markets Read More »

The Greenback: A pile of Canadian dollar bills.

Canadian Dollar Edges Up to 1.3545; WTI Crude Drops to $82.10

Quick Look: US Dollar to Canadian Dollar sees a slight increase, closing at 1.3545 with current consolidation around 1.3540. WTI Crude Oil experiences a decline from $84.48 to the latest price of $82.10 per barrel. Anticipation builds around major policy meetings, including the Federal Open Market Committee and the Bank of Japan.  The trading session involving …

Canadian Dollar Edges Up to 1.3545; WTI Crude Drops to $82.10 Read More »

Wibest – GBP/USD: British pound sterling coins over US dollar bills.

GBP/USD Slips 0.39% Amid Mixed Global Economic Cues

Quick Look GBP/USD current trading session sees a decline of 0.39%, standing at 1.2807. The pound had previously achieved six consecutive wins, with a 1.56% rise last week. Upcoming UK employment data and the BoE rate decision are in focus. US employment figures surpass expectations, but wage growth slows down. BoE’s interest rate cut expectations …

GBP/USD Slips 0.39% Amid Mixed Global Economic Cues Read More »

GBP/USD: British pound sterling coins. Bank of England (BoE)

GBP/USD Bearish Shift: Key Indicators & Trends

Quick Look GBP/USD Experiences a Bearish Shift, with a closing around 1.2650. Downward Trend Expected to Continue, pending key events like the UK budget announcement and the US job numbers release. Key Events to Watch: UK Budget Announcement, Federal Reserve Chairman’s Testimony, and US Job Numbers. Economic Indicators Show Mixed Signals: Strong Services Sector PMI …

GBP/USD Bearish Shift: Key Indicators & Trends Read More »

GBP/USD: British pound sterling coins. Bank of England (BoE)

GBP/USD Recovers to 1.2635 Amid Global Market Shifts

Quick Look GBP/USD trades around 1.2630-1.2635, recovering from a recent low. Key resistance and support levels were identified, with eyes on 1.2708 and 1.2499, respectively. US economic indicators show mixed signals; inflation is at a three-year low. Federal Reserve and Bank of England maintain a cautious stance on rate cuts. Market sentiment sways towards risk-on, …

GBP/USD Recovers to 1.2635 Amid Global Market Shifts Read More »

With the cryptocurrency market's rise, Saxo's crypto offerings have increased in demand.

USD Hits 104, NASDAQ Peaks, GBP Gains 0.6%

Quick Look The US Dollar Index hovers around 104.00 amidst key financial events. Notable currency movements include USD/JPY, reaching 150.50, and GBP/USD, gaining 0.6% last week. NASDAQ 100, S&P 500, and Dow Jones 30 hit new all-time highs, reflecting bullish stock market sentiment. Canadian CPI shows a decrease, while US inflation data presents a slight …

USD Hits 104, NASDAQ Peaks, GBP Gains 0.6% Read More »

EUR/USD - Ahead Of The US CPI Release, The Dollar Rises On High Yields

US Dollar Dips Below 104, PMIs & Fed’s View in Focus

Quick Look The US Dollar dips below 104.00 as risk sentiment improves, influenced by optimistic market events. Upcoming PMIs across major economies set to impact market dynamics. Federal Reserve’s January meeting minutes caution against premature policy easing. Currency movements see EUR/USD and GBP/USD gains, with notable shifts in commodity currencies. Market eyes on Nvidia’s earnings …

US Dollar Dips Below 104, PMIs & Fed’s View in Focus Read More »

With the cryptocurrency market's rise, Saxo's crypto offerings have increased in demand.

Forex Review: EUR/USD, GBP/USD, USD/CAD

Quick Look EUR/USD gains traction, trading above the 55-day EMA with an upside bias. USD/CAD exhibits neutral intraday bias, with range trading in focus. GBP/USD remains neutral, with the potential for a breakout or breakdown. Key economic indicators and the Federal Reserve’s policy meeting influence market dynamics. USD performance varies, showing weakness against the New …

Forex Review: EUR/USD, GBP/USD, USD/CAD Read More »

Dollar surged forward

Global Currency Shifts: Dollar Inflation & Yen’s 6% Dive

Quick Look U.S. inflation remains persistent, complicating the Federal Reserve’s easing cycle timeline. The yen struggles around 150 per dollar, facing a significant yearly decline amidst speculation. The dollar index exhibits resilience, climbing 3% this year amid changing rate cut expectations. Economic indicators highlight ongoing inflationary pressures, with mixed signals from retail sales and jobless …

Global Currency Shifts: Dollar Inflation & Yen’s 6% Dive Read More »