GBP/USD climbs to one-week highs at 1.3780 as USD holds onto losses
US dollar tumbles after Fed Chair Powell speech at Jackson Hole symposium. Cable soars on Friday, trims half of last week’s losses. The GBP/USD pair rose sharply on Friday and extended weekly gains. It is about to end the week hovering around 1.3765, up almost 150 pips from a week ago. Read more...
GBP/USD Weekly Forecast: US Nonfarm Payrolls to determine if “Death Cross” pattern is triggered
GBP/USD has benefited from optimism about covid and Fed tapering. US Nonfarm Payrolls and covid headlines promise a busy back-to-school week. Late August\s daily chart is showing bears are in the lead. To taper or not to taper? For a full week, that has been the question, and optimism for more Fed support fueled a recovery. However, they can have only been kicked toward the all-important US jobs report, assuming that UK covid cases remain under control. Read more...
GBP/USD Forecast: Powell to the rescue? Pound technicals and fundamentals point lower
When a currency cannot hold up when all others are in suspense – its weakness is exposed. GBP/USD has been on the back foot, struggling to hold onto 1.37 while investors are holding their breaths toward a critical event. Federal Reserve Chair Jerome Powell is set to provide signals about tapering the bank's bond-buying scheme in the virtual Jackson Hole speech. Read more...
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EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
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Week ahead – US GDP and BoJ decision on top of next week’s agenda
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