GBP/USD plummets down to 1.3420 post-US CPI figures, amid increasing Brexit tensions
The British pound reverses this week’s gains and some more, plummeting 160 pips during the day, down almost 1%, trading at 1.3426 at the time of writing. Since the beginning of the week, the GBP/USD pair trimmed last Friday’s losses, bouncing from 1.3400 to this week’s high (November 9) at 1.3606, amid the lack of a catalyst, mainly driven by US dollar weakness. Also, lower US bond yields dragged the greenback lower, ahead of the critical US CPI release. Read more...
GBP/USD: Five scenarios for trading UK Q3 growth figures + technical levels
Will the Bank of England raise rates in December? That is a critical question for the pound, and Gross Domestic Product figures for the third quarter could provide a signal. Economists expect an increase of 1.5% after a rapid expansion of 5.5% in the second quarter. Uncertainty is elevated. Read more...
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GBP/USD Forecast: Investors eye Brexit headlines as next catalyst
GBP/USD remains at the mercy of the dollar's market valuation as heightened concerns over the UK triggering Article 16 don't allow the British pound to find demand. Following Monday's decisive rebound, GBP/USD failed to reclaim 1.3600 with the greenback holding its ground against its major rivals amid the negative shift witnessed in market sentiment. Reflecting the dollar's resilience, the US Dollar Index trades in the positive territory above 94.00 in the early European session on Wednesday. Read more...
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Editors’ Picks
EUR/USD remains offered below 1.1300
EUR/USD remains under pressure on Thursday, maintaining its trade below the key 1.1300 support. The pair's pullback coincides with a rebound in the US Dollar, buoyed by stronger-than-expected businnes activity gauges in the US.
GBP/USD keeps its bullish stance above 1.3400
Encouraging prints from flash UK PMIs seem to be lending a hand to the British Pound on Thursday, motivating GBP/USD to stick to daily gains and extend its advance for yet another day beyond 1.3400 the figure.
Gold appears sidelined around $3,300
Gold now seems to have embarked on a daly consolidative phase around the $3,300 mark per troy ounce amid the firm performance of the Greenback. However, a cautious market mood is helping to limit the downside for the precious metal.
Bitcoin celebrates annual Pizza Day with a new all-time high
Bitcoin (BTC) enthusiasts are celebrating Bitcoin Pizza Day with a banger. BTC made a new all-time high on Wednesday and has entered price discovery mode. The OG cryptocurrency is trading above $110,000 for the first time ever.
FOMO vs fundamentals: Retail buys the dip, institutional investors stay cautious
Retail optimism is rising, but institutions are still treading carefully amid lingering macro and earnings risks. Policy and fiscal uncertainty remain elevated, with trade tensions, U.S. debt concerns, and a cautious Fed dominating the backdrop.
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