GBP/USD halts decline ahead of Fed and BoE’s decisions, traders eye UK CPI
The British Pound (GBP) halts last week’s fall against the buck (USD) and prints minuscule gains vs. the latter despite rising US Treasury bond yields, as the UK and US central banks are expected to reaffirm its restrictive stance. Therefore, the GBP/USD is trading at 1.2395 after hitting a daily low of 1.2369, though it is still below the 1.2400 figure. Read More...
Pound Sterling recovery falters ahead of inflation data
The Pound Sterling (GBP) attempts recovery despite investors remaining uncertain over the UK’s economic outlook. Expectations abound of one more interest rate increase from the Bank of England (BoE), a decision that will be announced on Thursday. The BoE is not in a position to pause the policy-tightening spell as inflationary pressure is stubborn and wage growth momentum is strong. Read More...
GBP/USD: Extra weakness remains on the cards – UOB
In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD could still slip back to the 1.2300 region in the next few weeks. Read More...
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EUR/USD loses traction, retreats below 1.0600
EUR/USD lost its recovery momentum and declined below 1.0600 in the American session on Friday, erasing a portion of its daily gains in the process. Nevertheless, the risk-positive market atmosphere after PCE inflation data helps the pair limit its losses.
GBP/USD turns negative on the day below 1.2200
GBP/USD reversed its direction and slumped below 1.2200 in the American session on Friday after rising above 1.2270 earlier in the day. Position readjustments and profit-taking on the last trading day of the quarter seems to be weighing on Pound Sterling.
Gold reverses direction, drops below $1,860
Following a steady rebound toward $1,880 on Friday, Gold price made a sharp U-turn and turned negative on the day near $1,860. Although the 10-year US T-bond yield is down more than 1%, XAU/USD struggles to find demand on the last day of Q3.
Polkadot Price Forecast: DOT reversal seems inevitable after 92% correction from all-time high
Polkadot price, in nearly two years, has shed 92.91% from its all-time high of $55.09. The massive downswing in DOT has pushed it down to levels that were last seen in October 2020. Hence, the chances of this altcoin forming a bottom and rallying are high.
Earnings beat triggers Nike to spike 9%
Nike (NKE) stock has surged over 9% in Friday’s premarket, climbing above $98 per share, following late Thursday’s fiscal first-quarter earnings release. Nike beat pessimistic earnings expectations by more than 23% and hiked its dividend by 9%.