Summary
The fall of cable is not solely the outcome of the hawkish Fed. The back and forth on the Brexit Bill as well as some worrying signs about consumption. Is the weak pound taking its toll? If so, we are seeing a vicious cycle. After explaining the reasons for the fall, we move to discussing the next big events and the charts.
Watch full analysis: Europe Market Open: Dollar dominates - but are markets getting ahead of themselves?
Video brought to you by FxPro
Latest Live Videos
Editors’ Picks
EUR/USD hovers above 1.1800 as USD stabilizes
EUR/USD treads water above 1.1800 in the European session on Thursday. The US Dollar stabilizes, following the recent decline fuelled by concerns about the economic fallout from US President Trump's erratic trade policies, capping the pair's upside. All eyes now remain on Lagarde's speech and US-Iran nuclear talks.
USD/JPY recovers above 156.00 despite cautious markets
USD/JPY is cutting losses to regain 156.00 in the European session on Thursday. The pair recovers alongside the US Dollar, but the further upswing appears limited amid hawkish BoJ commentary, looming intervention fears and risk-off mood, which continue to support the Japanese Yen. US-Iran nuclear talks take center stage.
Gold clings to gains amid sustained safe-haven flows ahead of US-Iran talks
Gold sticks to its modest intraday gains through the first half of the European session on Thursday, with bulls still awaiting a sustained move and acceptance above the $5,200 mark before placing fresh bets.
Stellar: Relief bounce fades as bearish undertone persists
Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.
Nvidia delivers another monster earnings report, and forecasts big things to come
It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.
Here is what you need to know on Thursday, February 26
Financial markets adopt a cautious stance early Thursday as focus shifts to US-Iran nuclear talks in Geneva. The European economic calendar will feature business and consumer sentiment data for February. Later in the day, the US Department of Labor will publish the weekly Initial Jobless Claims data, and the Federal Reserve Bank of Kansas City will release the regional Manufacturing Activity Index for February.