Author: FX
GBP PRICE, CHARTS AND ANALYSIS:Free Forecast on the GBP Below, Download Now Recommended by Zain Vawda Get Your Free GBP Forecast Read More: EUR/GBP, GBP/USD Remain Rangebound as GBP Faces a Defining WeekGBP struggled this morning as UK retail sales disappointed in the face of a rainy and wet month of July. GBPUSD sliding some 40-pips toward the 1.2700 handle following the release while EURGBP finally catching a bid following 5 successive days of losses.Currency Strength Chart: Strongest – JPY, Weakest – GBP.Source: FinancialJuiceUK RETAIL SALESIn a week that has largely served to cement a 25bps hike from the Bank…
Share: USD/RUB continues to trade lower after Tuesday’s CBR rate hike. USD/RUB fall could inculcate a sense of caution in the market. Technical indicators reinforce the bearish bias. The USD/RUB pair falls to around 93.10 during the early hours of the European session on Friday, retracting the gains registered on Thursday. The pair is facing downward pressure, which could be attributed to the emergency rate hikes implemented by the Central Bank of the Russian Federation (CBR) on Tuesday. The USD/RUB pair experiences losses despite improved US economic data, which could inculcate a sense of caution in the market. The optimism of Russian…
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, Nasdaq 100 Analysis and ChartsFTSE 100 drops further as UK retail sales fall by more than expectedThe rout in the FTSE 100 is ongoing as UK retail sales dropped by 1.2% month-on-month in July, worse than an expected 0.5% drop and after a downwardly revised 0.6% rise in June. The UK blue-chip index is fast approaching its 7,228 July trough. Between it and the 7,204 March low the index is expected to at least find interim support.Minor resistance can be found at the 24 March low at 7,331 and…
da-kuk London -0.78% UK retail sales drop 1.2% M/M in July Germany -0.82% France -0.97% The pan-European Stoxx 600 (STOXX) edged 0.81% lower, with retail stocks falling to lead losses on the back of weak U.K. retail sales figures as all sectors and major bourses slid into the red. Stocks set to follow counterparts in Asia-Pacific, where markets fell as investors assessed Japan’s July inflation and as Chinese real estate giant Evergrande filed bankruptcy. Coming up in the session: Euro area inflation rate expected shortly. In the bond market, the U.S. 10-year Treasury yield was down 8 basis points to…
USD/JPY News and AnalysisJapanese inflation prints inline, but stickier prices remain elevatedUSD/JPY momentum stalls on developing safe-haven switchJapanese data is scarce but markets look ahead to Jackson Hole eventThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free JPY Forecast Japanese Inflation Prints Inline, But Stickier Prices Remain ElevatedOn Friday, Japanese inflation data helped to continue a two-day decline in USD/JPY as the ‘core-core’ measure rose while the headline measure of inflation saw no year-on-year change.Elevated inflation data continues…
5/5 © Reuters. Investigators work near a damaged roof following a reported Ukrainian drone shot down in Moscow, Russia, August 18, 2023. REUTERS/Shamil Zhumatov 2/5 MOSCOW (Reuters) -A Ukrainian drone smashed into a building in central Moscow on Friday after Russian air defences shot it down, disrupting air traffic at all the civilian airports of the Russian capital, Russian officials said. A Reuters witness who was in the area described hearing “a powerful explosion”. Reuters images showed workers and emergency workers inspecting a damaged roof of a non-residential building which the drone hit. The Russian defence ministry and Moscow Mayor…
This pound pair looks ready to bounce off its long-term range support again! How high can it go this time? On the daily chart below, you can see that GBP/CHF is trading between support at the 1.1100 major psychological mark and resistance at 1.1500. GBP/CHF Daily Forex Chart by TV The pair seems to have formed a short-term double bottom reversal pattern after testing the range support, suggesting that a rally could follow from here. In that case, GBP/CHF could set its sights back on the very top of the range or at least until the area of interest at…
10-year yields in the US clipped the 4.30% mark yesterday but are pushing back lower by nearly 6 bps to 4.249% currently. The former is a key line in the sand for the bond market at the moment and so far, the bulls are making a bit of a stand. But against the narrative that have driven yields up by 30 bps in since last week alone, are they able to meaningfully turn the tide? That remains to be seen.But if bond bears were ever looking to reconsider their position, there would be no better place.I’d keep a close watch…
Share: USD/INR prints three-day losing streak, holds lower grounds near intraday bottom of late. Upbeat Oil price, China woes test Indian Rupee buyers. Yields retreat amid market’s consolidation ahead of Jackson Hole symposium speeches. USD/INR remains pressured around 83.00, down for the third consecutive day heading into Friday’s European session, as market players prepare for the next week’s top-tier events amid a light calendar at home. Also favoring the Indian Rupee (INR) buyers is the downbeat US Dollar as it traces the Treasury bond yields after refreshing the Year-To-Date (YTD) top. However, the pessimism surrounding China and the…
Market Recap Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Market sentiments continue to reel in from the hawkish takeaway in the recent FOMC minutes, with the reckoning for rates to be kept high for longer pushing US Treasury yields to retest their recent highs. The US two-year yields continue to hover just below the 5% mark, while the 10-year yields briefly touches its October 2022 peak overnight. Any successful upmove in the 10-year yields above its October 2022 peak will point to a new 15-year…