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GBP/USD Forecast: Pound Starts the Year by Getting Hammered
The British pound initially tried to rally during the trading session on Monday, and even broke a bit higher during the day as it peaked above the 1.37 handle. However, we have seen this market break down significantly since then, as Boris Johnson is set to announce more lockdowns in the United King
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NZD/USD clings to gains near session tops, comfortably above 0.7200 mark
NZD/USD caught some fresh bids on Tuesday amid renewed USD selling bias. The underlying bullish tone continued undermining the safe-haven greenback. COVID-19 jitters could temper enthusiasm and cap the upside for the major. The NZD/USD pair edged higher through the Asian session and moved back above
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EUR/USD pulls back towards 1.2250 after topping out just above 1.2300
EUR/USD has been on the back foot in recent trade amid a deterioration in the market’s broader appetite for risk. EUR/USD has slipped back towards 1.2250 from previously above 1.2300. Markets are showing nerves ahead of risk events this week; the Georgia Senate election, US ISM PMI and NFP numbers a
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EUR/GBP pushes higher well above 0.9000
EUR/GBP clinches fresh tops in the 0.9030/35 band. The selling bias around the pound gives oxygen to the move. UK Manufacturing PMI surprised to the upside at 57.5 in December. The downbeat note surrounding the quid favours the daily recovery in EUR/GBP beyond the key 0.90 the figure on Monday. EUR/
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USDCNH Dives to Fresh Lows; Bears Could Catch a Breather in Short Term
USDCNH stretched its seven-month old sell-off to the new year, diving to a fresh 2 ½ -year low of 6.438 on Monday. Although the bearish market structure, which develops below the Ichimoku Cloud and the simple moving averages (SMAs), keeps sentiment negative, with the falling momentum indicators also
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EUR/USD Remains Below 1.2310
During Monday morning hours, the EUR/USD currency pair pierced the weekly R1 at 1.2291. It is likely that the exchange rate could face the resistance level at 1.2310 and reverse south in the short term. In this case the rate could decline to the support formed by the weekly PP and the 200-hour SMA i
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GBPUSD Tops At 1.3700 In The First Trading Day Of 2021
GBPUSD stretched its rally to a fresh 32-month high of 1.3700 in the first trading day of 2021, but it continues to face limitations around the topline of the upward-sloping channel, which it failed to successfully overcome last week. Technically, the short-term bias remains on the positive side in
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FTSE 100 surge driven by gold miners and entain
A takeover bid for Entain has helped drive the Ladbrokes owner sharply higher. Indeed, UK stocks are generally faring particularly well despite the UK finally being cut adrift of the EU. Dollar weakness is helping lift commodity prices, while traders have one eye on the Georgia runoffs which will de
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Week Ahead – Focus on Georgia Senate races and COVID holiday surge
US The week ahead is all about COVID, the Georgia Senate runoff races, and possibly a negative nonfarm payroll reading. The US is already setting daily COVID-19 records ahead of the holiday surge and concerns are high the new COVID-19 strain believed to be more contagious is spreading across the cou
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China Manufacturing Sector Slows In December - Caixin
The manufacturing sector in China continued to expand in December, albeit at a slower pace, the attest survey from Caixin revealed on Monday with a manufacturing PMI score of 53.0. That missed expectations for a score of 54.8 and was down from 54.9 in November - although it remains above the boom-or
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Indian Shares Likely To Open Higher
Indian shares are likely to start Calendar year 2021 on a firm note, tracking cues from Wall Street, where stocks moved higher overnight. Optimism about economic recovery, the rollout of coronavirus vaccines and expectations of further stimulus measures are likely to lift the market to fresh record
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Tesco and Pizza Hut 'shamed' for not paying the UK minimum wage
London (CNN Business)Britain's largest supermarket chain Tesco underpaid almost 80,000 of its workers, the UK government has revealed, as it "named and shamed" dozens of companies for not paying the minimum wage. A total of 139 companies failed to pay £6.7 million ($9.1 million) to thousands of work
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UPDATE 1-Hedge fund Alden Global seeks to buy Tribune Publishing - WSJ
(Adds details from WSJ report in paragraph 3, context in paragraph 6, 7) Dec 31 (Reuters) - U.S. hedge fund Alden Global Capital is planning to buy newspaper chain Tribune Publishing Co, the Wall Street Journal reported on.wsj.com/2L2JAYV on Wednesday, citing people familiar with the matter. Alden G
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Wall Street Close: Stocks grind higher in thin pre-year end trade
The S&P 500, Nasdaq Composite and Dow Jones Industrial Average all closed higher on Wednesday. Markets were quiet and conviction was lacking as the end of the year approaches. US fiscal stimulus politics remains in focus. The S&P 500 closed 0.18% higher, the Dow Jones Industrial Average 0.26
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Sri Lankan shares close higher on industrial, consumer staples boost
Dec 30 (Reuters) - Sri Lankan shares notched their third straight session of gains on Wednesday, closing at a more than three-year high, helped by a rise in industrial and consumer staples stocks. * The benchmark stock index ended up 0.64% at 6,748.01, its highest closing level since July 2017. * Tr
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Pull-up Update
