GBP/USD Price Forecast: Climbs to three-day peak, approaches 1.3000
The Pound Sterling recovered some ground and traded at around three-day highs of 1.2998 yet remained unable to crack the 1.3000 figure at the time of writing. Market mood has improved slightly, a headwind for Greenback, which, despite that, is headed to sustain weekly gains of more than 0.50%. Read More...
Pound Sterling gains further on BoE Mann's hawkish remarks
The Pound Sterling (GBP) rises further near the psychological resistance of 1.3000 against the US Dollar (USD) in Friday’s New York session. The GBP/USD pair gains as the US Dollar extends its correction after the release of the United States (US) Durable Goods Orders data for September. The US Dollar Index (DXY), which gauges Greenback's value against six major currencies, tests territory below 104.00. New orders for core goods contracted at a steady pace of 0.8% in September, however, the pace of decline was slower than expectations of 1.0%, pointing to a steady market for durable goods. Read More...
GBP/USD rebounds despite UK PMI miss
GBP/USD recovered some much-needed ground on Thursday, climbing 0.4% as Cable bidders grapple with keeping price action north of the 1.2900 handle. UK Purchasing Managers Index (PMI) figures broadly missed the mark early Thursday, but both the Services and Manufacturing PMI components held north of contraction territory below 50.0. Read More...
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AUD/USD: Further losses look likely
AUD/USD managed to regain the smile and leave behind four consecutive daily retracements on Monday, gathering some traction soon after hitting lows not seen since April 2020 near 0.6130.
EUR/USD scrambles to recover ground after fresh test of two-year lows
EUR/USD continued to explore the bearish side of the charts on Monday, declining into the 1.0200 handle for the first time since late 2022, etching in a fresh 26-month low before staging half-hearted recovery later in the day.
Gold holds above $2,660 with a soft tone
Prices of Gold trade on the defensive and reverse four consecutive daily pullbacks in response to extra improvement in the US Dollar as well as investors' reassessement of just one (or none at all) interest rate cut by the Fed for the current year, particularly following Friday's Nonfarm Payrolls prints.
Crypto Today: BTC price plunges 4%, Litecoin X account hacked; traders position for US inflation report
The cryptocurrency sector plunged by 5% on Monday, with over $148 billion wiped off the aggregate market capitalization. Bitcoin price dropped below $90,600 for the first time in 24 days, as traders anticipate the upcoming US CPI report.
Bitcoin falls below $92,000 as exchanges show overheating conditions
Bitcoin (BTC) continues its ongoing correction, falling below $92,000 on Monday after declining almost 4% last week. CryptoQuant data shows that BTC is overheating in exchanges and suggests further decline ahead.
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