Weekly market wrap: GBP/USD, USD/JPY, USD/CAD, USD/CHF [Video]

Luca Santos ACY Securities

Join us as we delve into the intricate world of the global economy with Luca Santos, Technical Market Analyst at ACY Securities. In this week's episode, Luca dissects the events and developments that have shaped the financial landscape, with a particular focus on central banks' crucial interest rate decisions.

In a world where markets are constantly on the move, Luca takes a comprehensive look at major currencies such as the Japanese Yen (JPY), the British Pound (GBP), the United States Dollar (USD), and the Swiss Franc (CHF). These currency pairs have been under the spotlight as central institutions like the Bank of England, Swiss National Bank, Bank of Japan, and the Federal Reserve announce their monetary policies.

Stay informed and ahead of the game with Luca Santos as he provides you with expert market analysis on a daily basis. Don't miss out on this valuable insight into the global economy and the forces that drive it. Subscribe now to ACY Securities and never miss an episode!

Author

Luca Santos

ACY Securities

Luca is a seasoned Forex trader with a wealth of experience in the financial markets. Luca has a deep understanding of the economic data that drives the currency markets, and he uses this knowledge to inform his trading decisions.

EUR/USD faces next resistance near 1.1930

EUR/USD has surrendered its earlier intraday advance on Thursday and is now hovering uncomfortably around the 1.1860 region amid modest gains in the US Dolla. Moving forward, markets are exoected to closely follow Friday’s release of US CPI data.

GBP/USD inching closer to 1.36

The Pound Sterling edged higher to 1.3640 on Thursday, recovering from an earlier pullback after stronger-than-expected US jobs data initially weighed on the pair. The Bank of England held rates at 3.75% at its February 4 meeting in a narrow 5-4 vote split, with four members preferring a 25 basis point cut to 3.50%.

Gold falls to near $4,900 as selling pressure intensifies

Gold price faces some selling pressure around $4,910 during the early Asian session on Friday. The yellow metal tumbles over 3.50% on the day, with algorithmic traders appearing to amplify the precious metal’s sudden drop. Traders will closely monitor the release of the US Consumer Price Index inflation report for January, which will be released later on Friday.

Ethereum investors face huge unrealized losses following price slump

US spot Ethereum exchange-traded funds flipped negative again on Wednesday after recording net outflows of $129.1 million, reversing mild inflows seen at the beginning of the week, per SoSoValue data. Fidelity's FETH was responsible for more than half of withdrawals, posting outflows of $67 million.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.