GBP/USD holds recovery gains above 1.2900 ahead of BoE policy decision
GBP/USD builds its recovery momentum above 1.2900 in European trading on Thursday, moving away from its lowest level since mid-August. Traders adjust their positions ahead of the key BoE and Fed monetary policy announcements.
Will the Bank of England opt for a 25 bps rate cut?
The BoE has held rates steady at 5.00% in the previous gathering, but shifting investor sentiment now suggests a possible 25-basis-point cut this week. Our experts will analyze the market reaction to the event at 11:30 GMT. Join us here!
EUR/USD stays firm near 1.0750 amid US Dollar pullback
EUR/USD holds higher ground near 1.0750 in the European session on Thursday. The pair finds support from a broad US Dollar retreat, as traders unwind their Trunp win-inspired USD longs ahead of all-important Fed policy announcements.
Gold price faces challenges due to decline in safe-haven flows, awaits Fed rate decision
Gold price (XAU/USD) faced challenges as the dollar-denominated precious metals struggled due to a stronger US Dollar (USD) following the victory of former President Donald Trump in the US election.
BoE set for a second interest rate cut this year on Thursday
Market consensus points to further easing by the Bank of England's (BoE) upcoming interest rate decision on Thursday. The BoE has held rates steady at 5.00% in the previous gathering, but shifting investor sentiment now suggests a possible 25-basis-point cut this week.
DEEPER DIVE
Global takeaways of the US election
We view a second Trump administration—and more specifically his proposed tariff policies—as a catalyst for further deglobalization and global economic fragmentation. Tariffs could also act as an inflection point for China to approach stimulus efforts differently.
What Donald Trump’s victory means for China
Chinese assets sold off after the Trump 2.0 outcome, but policymakers should be more prepared this time around. China’s stimulus plans and currency management responses are likely to be the most watched factors in the months ahead.
Business investment: Software outpaces bricks and mortar
In France, in Q3 2024, for the first time (statistical series dating back to 1949), non-financial companies invested more (in billions of euros, at constant prices) in "information and communication" than in construction.
CRYPTOCURRENCIES
XRP eyes $0.6640 as Ripple CEO tips Trump to fire Gensler on first day in office
Ripple's XRP is up over 5% on Wednesday and could extend its rally to $0.6640 as the Securities & Exchange Commission may not file its appeal brief against the company due to Donald Trump's presidential election victory.
What's next for Bitcoin and Crypto industry following Trump's victory in US Presidential election
The 2024 US presidential election ended with pro-crypto advocates leading the House of Representatives, the Senate, and Donald Trump as the president-elect. The results stirred massive celebration across the crypto industry, with Bitcoin and the crypto market rallying following Trump's win.
Crypto Today: All Bitcoin holders in profit, TRON partners with Chainlink, DOGE miners in $145M buying spree
Bitcoin price reached a new all-time high of $75,120 on November 6 as markets reacted to Donald Trump’s victory in the 2024 US presidential election. The global cryptocurrency sector valuation grew by $190 billion within the daily time frame as bullish momentum spilled over into the altcoin market.
STOCKS
JPMorgan, Goldman Sachs stocks soar as Trump win signals financial deregulation, higher interest rates Premium
JPMorgan (JPM) and Goldman Sachs (GS) both saw their stars rise in Wednesday’s premarket after Donald J. Trump won a convincing election to a second consecutive term in office on Tuesday.
Equities report: US elections results reshape potentials for US stock markets
Major US stock market indexes got renewed support fed from the path of the US elections and Trump’s win on Wednesday. Despite the support for US stock markets being clear the extend of the rise of major US stock markets may have been clipped.
WEEKLY FORECAST
EUR/USD: It’s all about economic growth Premium
The United States, Germany and the Eurozone will release preliminary Q3 GDP estimates. The US will also publish employment data ahead of the Nonfarm Payrolls report on Friday. EUR/USD could retest the year low at 1.0600 in the upcoming days.
GBP/USD: Pound Sterling falls for fourth straight week amid persistent Dollar strength Premium
The Pound Sterling (GBP) remained at its lowest level in over two months versus the US Dollar (USD), leaving the GBP/USD vulnerable below the 1.3000 threshold.
US elections: The race to the White House tightens
Trump narrows the gap The time for Americans to vote for a new president is drawing ever closer, but who will win on November 5 is looking a lot less certain now than it did when Vice President Kamala Harris entered the race.
Gold: XAU/USD corrects lower after setting new record-high Premium
Gold corrected lower after touching a new all-time high at $2,758. The technical outlook suggests that the bullish bias remains intact in the near term. Next week’s economic calendar will feature key US data releases that could impact Gold’s valuation.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Week ahead – US election draws all eyes, Fed, RBA and BoE meet
Traders lock gaze on Tuesday’s US election.Trump and Harris battle neck and neck in final stretch. Fed to decide whether to cut interest rates. RBA and BoE decisions are also on next week’s agenda.