GBP/USD rallies to levels not seen since March following the BoE Decision. GBP/USD is nearing the 1.3200 level as the dollar once again came under pressure on Wednesday, despite better than expected PMI data out of the US. The pair continues to carry a strong correlation with the equity markets with
NZD/USD is fluctuating in a tight range on Thursday. US Dollar Index stages a modest recovery toward 93.00. Eyes on weekly Initial Jobless Claims data from the US. The NZD/USD pair is struggling to make a decisive move in either direction amid a lack of significant fundamental drivers on Thursday.
BANK OF ENGLAND (BOE) LATEST AND GBP/USD PRICE, CHART AND ANALYSIS: The Bank of England warns that UK unemployment may rise to 7.5%. UK central bank sees a recovery in household consumption. The Bank of England (BoE) left all policy measures unchanged today, in line with market expectations, and w
#XAU/USD# I had previously sent an updated about the impulse target, here I have added the parallel channel to further reinforce the top of the channel trend line . We are reaching a all time high not only in price but also in relative strength and the volume for buyers is fast runni
EURO AT RISK ON EU DIGITAL POLICY STANCE The Euro may endure the brunt of the European Union’s policy stance on digital sovereignty as the bloc risks angering China and the United States, resulting in fighting a digital war on two fronts. The latter last year expressed discontent over France’s attem
The Bitcoin Cash community is divided over the decision to change the asset’s difficulty adjustment algorithm. ETH co-founder Vitaly Buttering said that the algorithm “is fine as is.” BCH proponent Hayden Otto says that despite the disagreement, another chain split seems unlikely. The Bitcoin Cas
Oil managed to settle above the resistance at $42.50 and continued its upside move as crude inventories declined by 7.4 million barrels. U.S. Domestic Oil Production Declines To 11 Million Barrels Per Day WTI oil managed to get above the resistance at $42.50 after API Crude Oil Stock Change report i
#EUR/GBP# Morning Traders, The Euro-Pound may have already confirmed and rebounded the previous resistance zone as it draws itself to the downside. This is an opportunity worth taking! Remember to do your own due diligence before trading. For more content follow me on TradingView.
China’s Caixin/Markit services PMI was expected to remain in good health for July from 58.4 prior. The data, however, has arrived as follows: Caixin/Markit services PMI China Caixin/IHS Markit July services PMI at 54.1 (vs 58.4 in June). Forex reaction Ahead of the data, China's onshore spot yua
Copper prices seem to have stalled just shy of key chart resistance as geopolitical tensions weigh on the global-growth proxy. Fading supply-chain issues may be weighing on copper as Peruvian production increased significantly over the last 3 months. The price of copper has long been utilized as a
RBA Cautioned over Uneven and Bumpy Recovery amidst Second Wave of Outbreak. Maintained All Easing Measures
At the July meeting, RBA left the cash rate unchanged at 0.25% and maintained yield curve targeting for 3-year bonds at 0.25%. While acknowledging that economic contraction has been less severe than previously anticipated, policymakers left economic forecasts largely intact. The cautiousness was dri
Bank of Japan Governor Haruhiko Kuroda said the central bank may consider extending a March 2021 deadline for lending facilities aimed at channelling funds to companies hit by the coronavirus pandemic, the Yomiuri newspaper reported on Tuesday. Reuters reports on the matter and explains that in the
The U.S. dollar began August with a bounce after suffering its worst monthly fall in just shy of a decade, but it did little to dissuade bears who are looking for further weakness in the greenback. “We expect the currency to be undermined by an ebbing of safe-haven flows, a reduction in the U.S. rat
Gold prices eked out a slight gain, but enough to finish at a fresh record Monday, with a bounce higher in the U.S. dollar muting some of the rally that had taken bullion temporarily a psychologically significant level near $2,000. A measure of the buck inched higher to start the first trading day i