BOE Rate Decision Preview: Bailey to follow Powell’s footsteps with a dovish hike
GBP/USD is holding at a critical juncture heading into the Bank of England’s (BOE) ‘Super Thursday’ announcements. The central bank is widely expected to hike the key rate by 50 bps to 1.75% at 11:00 GMT while Governor Andrew Bailey’s press conference will follow at 11:30 GMT. Read more...
GBP/USD Forecast: 1.2200 may prove to be a tough resistance to crack
GBP/USD has been fluctuating in a tight channel below 1.2200 since the beginning of the day on Wednesday. Investors could refrain from betting on renewed pound strength while waiting for the Bank of England (BOE) to announce its policy decisions on Thursday. Read more...
GBP/USD faces barricades around 1.2150 as odds of a less-hawkish BOE policy advance
GBP/USD is struggling to surpass the immediate hurdle of 1.2150 after a pullback move. An expectation of a 50 bps rate hike by the BOE is not sufficient to offset the soaring inflation rate. The upbeat US ISM Services PMI data has improved the risk appetite of investors. Read more...
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EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.