GBP/USD drops to one-week lows under 1.3875 amid a rally of USD
US dollar extends gains during the American session as US yields soar. Cable fails to hold to weekly gains, drops below 1.3900. The GBP/USD extended the decline to 1.3860, the lowest level in a week, on the back of a stronger US dollar across the board. The greenback started a rally after the release of the US official employment report that continues. NFP numbers came in above expectations and triggered a sell-off in Treasuries. Read more...
GBP/USD Weekly Forecast: Why Sterling is set to break higher after weathering negative factors
GBP/USD has rocked and rolled in response to the BOE and Nonfarm Payrolls. UK GDP, US inflation and covid headlines are set to shake cable in the upcoming week. Early August´s daily chart is painting a mixed picture. The FX Poll is showing a bullish trend on all timeframes. Resisting gravity and set to skyrocket? GBP/USD has weathered hawkish tunes from the Fed, strong US jobs and BOE caution. Can it move higher now? The next moves hinge on critical US inflation figures, Britain's covid advantage and UK growth data. Read more...
GBP/USD Forecast: Bailey bails sterling out, Nonfarm Payrolls may test critical support
GBP/USD has weathered dollar strength after the BOE took a hawkish step. US Nonfarm Payrolls are left, right and center for markets. Friday's four-hour chart is showing bulls are in control, and where critical support awaits. Tip-toeing toward tightening – the Bank of England has indicated it is ready to "modestly" change its monetary policy, and that has eventually proved to be positive for the pound. A bigger test is due now. Read more...
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EUR/USD bounces off lows, approaches 1.1550
EUR/USD continues to recover ground lost and now extends the rebound to the 1.1550 zone on Friday. Meanwhile, the US Dollar maintain its bullish bias intact in response to a significant flight to safety amid increasing geopolitical concerns, while positive consumer sentiment data also contribute to the daily uptick.
Gold keeps the trade above $3,400 on safe-haven demand
Gold prices maintain its upward trajectory on Friday, reaching its peak level since late April above the $3,400 mark per troy ounce. Furthermore, the precious metal draws increased safe-haven interest amid escalating tensions in the Middle East, triggered by Israel's military action against Iran.
GBP/USD trims losses, retargets 1.3600
After an earlier dip toward the 1.3520 area, GBP/USD has regained some composure, trading within sight of the key 1.3600 barrier as the week draws to a close. The pair remains under pressure on Friday, weighed down by renewed US Dollar strength amid rising risk aversion and a stronger-than-expected consumer confidence report.
Crypto Today: Bitcoin, Ethereum, XRP clamber for support amid escalating volatility on Israel-Iran tensions
The cryptocurrency market has been hit by a sudden wave of extreme volatility, triggering widespread declines as global markets react to tensions between Israel and Iran. Bitcoin is hovering at around $104,668 at the time of writing on Friday, following a reflex recovery from support tested at $102,513.
Week ahead – Markets brace for central bank barrage amid heightened uncertainty
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