UK GDP, Trade, Production Day [Video]

Dukascopy Bank Team Dukascopy Bank SA

Start of the trading week is relatively light in terms of publications, but it should be interesting for Sterling traders, so stay with us. It’s busy with UK July data publications at 8:30 in the morning, including the high importance monthly GDP.

Economy expanded at just one tenth of a percent in June after gaining point 3% in May and point 2% in April. Trade stats will also be available at this time. Visible trade deficit narrowed down in June from May’s level of 12.52 billion Pounds. Index of Production release wraps up the 8:30 data run. Both manufacturing and industrial productions were up by point 4% month on month in June.

US Consumer Credit for July is up next at 7 PM. Consumer debt increased by 10.2 billion US Dollars in June after jumping by a massive 24.3 billion in May. Australian NAB Business Survey for August wraps up this agenda at 1:30 in the morning. Business confidence ticked up 1 point to plus 7 index points, which is an around average level. I’m Jack Everitt and this wraps up the Economic Calendar for Monday.

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.