GBPUSD, H1
The dollar traded moderately softer so far today. EURUSD clocked a two-session high of 1.2373 from the 1.2330-35 area while the narrow USD trade-weighted index (DXY) ebbed by 0.25%. AUDUSD also traded firmer, and USDCAD lower. Cable traded above 1.4300 for the first time since January, as Sterling outperformed its peers. Elsewhere, the Russian rouble came back under the cosh following the weekend declaration from the U.S. that will be announcing new sanctions this week on Russia as a consequence of its backing the Syrian regime and following the alleged chemical attack on civilians.
GBPUSD triggered 3 entries this morning; 08:00 {1} (-19 pips), 11:00 {2}(+14 pips) and 12:00 {3} (+15 pips) for a net gain of +10 pips. Sterling remains well bid on the higher, longer term time frames against the AUD, CHF, EUR, NZD and USD.
There's more! Access all our latest analyses and other great content by subscribing to the HotForex Youtube channel. You can also talk to our experts live by registering for one of our free webinars!
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.