EUR/GBP has edged just below the 0.86 level. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes Sterling’s outlook. GBP/USD does not look stretched…
EUR/GBP: There is probably some further downside room – ING
EUR/GBP has moved down to the 0.86 level. Economists at ING analyze the pair’s outlook.
EUR/USD ends NFP Friday near where it started after rejection from 1.1000
The EUR/USD fell to a three-week low on Friday after European inflation rebounded higher in December, with the Eurozone Harmonized Index of Consumer Prices (HICP) for the year ended December climbing to 2.9% versus November’s YoY 2.4%. Markets were expecting a print of 3.0%, but higher inflation of any amount reduces the chances of the European Central Bank (ECB) cutting interest rates to reduce borrowing and lending costs.
Silver Price Analysis: XAG/USD surrenders modest intraday gains, seems vulnerable near $23.00
Silver (XAG/USD) struggles to capitalize on its modest intraday gains to the $23.20 region and retreats to the lower end of its daily range during the early part of the European session. The white metal currently trades around the $23.00 mark and for now, seems to have stalled its modest recovery from a three-week low touched on Thursday.
Australian Dollar hovers around a major level ahead of US employment data
The Australian Dollar (AUD) halts its losing streak on Thursday. The AUD/USD pair is under downward pressure due to risk-off sentiment and a general bearish session in the commodity complex. The softer Judo Bank Purchasing Managers Index (PMI) data further adds pressure on the Aussie Dollar (AUD).
Markets remain calm to start 2024 as focus shifts to key data releases
Following some choppy action in the last trading days of 2023, financial markets seem to have turned relatively calm to begin the new year. S&P Global will release revisions to December PMI data for Germany, the Euro area, the UK and the US later in the day.
Gold Price Forecast: Anticipating 2024 Rally Amid Fed Rate Cut Speculations
Gold (XAU/USD) is experiencing a period of correction, with current trading activity indicating a likely consolidation phase. Despite the recent dip in price to near $2,063.00, gold maintains a positive trajectory, buoyed by market expectations of early interest rate cuts by the Federal Reserve (Fed) in 2024.
USD/JPY pinned to the low side near 141.00 as markets close out 2023
The USD/JPY is back into the 141.00 handle as the pair struggles to accelerate momentum in either direction as markets wind up the 2023 trading year.
BTC/USD Forex Signal: Bitcoin Wavers as Santa Rally Fades
Bitcoin price remained in a consolidation mood during the Christmas weekend as traders waited for the next big news. The BTC/USD pair was trading at 43,450 on Tuesday, where it has been in the past few weeks.
Gold Price Analysis: XAU/USD pulls back from $2,070 as markets hunker down for holidays
XAU/USD briefly tested above $2,070 on Friday before paring back toward the day’s opening bids. With the Federal Reserve’s (Fed) main interest rate at a 22-year high, markets are incredibly eager for the Fed to begin cutting interest rates, and receding US inflation is pinning investor hopes of an accelerated pace of Fed rate cuts in 2024.