GBP/USD struggles to hold up against dollar strength amid Powell's testimony, mixed US data
GBP/USD has been falling some 40 pips from the highs as the dollar gains ground. Mostly worse-than-expected US data and uncertainty stemming from Powell weigh on sentiment. UK covid figures are eagerly awaited after Wednesday's leap. Back to the drawing board – GBP/USD has dropped to around 1.3850, nearly unchanged on the day. The safe-haven US dollar has been gaining ground as part of a broader risk-off mood stemming from several factors. Read more...
GBP/USD Forecast: BOE’s Saunders hints on tapering
The GBP/USD pair peaked at 1.3898 during London trading hours, as the pound got a boost from comments from Michael Saunders, policymaker from the Bank of England. He said that during the upcoming months, they would discuss whether to curtail the current assets purchase program and/or take further policy action next year. He clarified that if the “bank rate does rise in the next year or so, it is likely that any rise would be relatively limited.” The pair changed course afterwards as the dollar gathered strength on the back of a souring market’s mood. Stocks edged lower in Europe, accelerating their slumps ahead of London’s close. Wall Street also suffered but ended the day mixed. Read more...
GBP/USD Forecast: Inflation boost? Not so fast, sterling may suffer while BOE looks the other way
GBP/USD has been torn between higher inflation and central bank dismissal – on both sides of the pond. The UK's surge in covid cases could weigh on the pound. Thursday's four-hour chart is painting a mixed picture. No rush – that has been the message from central banks on both sides of the Atlantic, which has been providing negative for cable. Four days before "Freedom Day," sterling has another reason to struggle as covid cases surge. Read more...
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EUR/USD struggles to find direction and moves up and down in a narrow channel at around 1.0800 in the American session on Wednesday. The data from the US showed that employment in the private sector rose less than expected in November and helped the pair limit its losses.
GBP/USD battles 1.2600 after US ADP data
GBP/USD is having a difficult time stabilizing above 1.2600 after closing the first two trading days of the week in negative territory. Despite the weaker-than-expected ADP Employment Change data, the US Dollar stays relatively resilient amid cautious market stance.
Gold rebounds to $2,030 as US yields stretch lower
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Bitcoin-based meme coin ORDI price action wobbles after 1,100% rally
The Bitcoin-based BRC-20 meme coin, which had people confused as being an actual valuable token, is now slowly creeping up to that status. ORDI price rise over the past couple of days has been astonishing, and with BTC driving the price and crossing $44,000, ORDI is also gaining rapidly. But not for long.
The Dollar is struggling to trend
For the last three trading sessions, the dollar index has been crossing up and down the 200-day moving average every day. All in all, the flirting with this level has been going on for more than three weeks, during which neither bulls nor bears were able to form a stable trend.