Author: FX
GBP/USD firm as Fed easing bets outweigh soft US PMI signalsThe Pound Sterling turns positive in the day as traders increase their bets that the Federal Reserve could cut rates at the December meeting. The GBP/USD trades at 1.3082 up 0.08%. Read More…Pound Sterling slumps after poor UK Retail Sales, flash PMI dataThe Pound Sterling (GBP) falls sharply against its major currency peers on Friday, following the release of poor United Kingdom (UK) Retail Sales data for October, and preliminary S&P Global Purchasing Managers’ Index (PMI) data for November. Read More…GBP/USD Price Forecast: Holds gains near 1.3100, but bearish momentum persists below 100-day EMAThe…
The Euro (EUR) remains under pressure against the US Dollar (USD) on Friday, even as the Greenback trades broadly flat, with traders weighing fresh US economic data and rising bets on a potential Federal Reserve (Fed) interest rate cut in December. At the time of writing, EUR/USD is trading around 1.1500, on track for its first weekly decline after two consecutive weeks of gains. Meanwhile, the US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, is trading near 100.26, holding firm around its highest level in more than five months.S&P Global’s preliminary US Purchasing…
The Pound Sterling turns positive in the day as traders increase their bets that the Federal Reserve could cut rates at the December meeting. The GBP/USD trades at 1.3082 up 0.08%.Sterling turns positive as improved US sentiment and dovish Fed voices lift December rate-cut expectationsThe US economic docket revealed that business activity in the US remained solid according to S&P Global. The Manufacturing PMI dipped from 52.5 to 51.9, slightly below the 52 estimates Conversely, the Services PMI improved from 54.6 to 54.8, above forecasts of 54.5. Comments of the survey showed that business confidence has improved, and that hopes…
US S&P Global Composite PMI rose to 54.8 in November’s flash estimate from 54.6 in October, showing that the business activity in the US’ private sector continued to expand at an accelerating pace.S&P Global Manufacturing PMI declined to 51.9 from 52.5 in this period, while the Services PMI improved to 55.0 from 54.8.Assessing the survey’s findings, “the flash PMI data point to a relatively buoyant US economy in November, signalling annualised GDP growth of about 2.5% so far in the fourth quarter,” said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, and added:”Although jobs continued to be created…
Silver (XAG/USD) trims a part of its earlier losses on Friday after marking a fresh weekly low at $48.64. At the time of writing, the metal is trading around $49.69, recovering modestly but still down nearly 1.50% on the day, and remains on track for a weekly decline. From a technical perspective, Silver is flashing early signs of fatigue after forming a double-top pattern on the daily chart, with peaks around the $54.50-$55.00 region. The pattern is beginning to exert mild bearish pressure, although the neckline remains intact, keeping sellers cautious for now.Despite the pullback, the broader uptrend structure remains…
USD/CHF trades around 0.8070 on Friday, up 0.10% on the day at the time of writing, as the US Dollar (USD) finds moderate support from mixed but generally resilient US data releases. While the pair advances, markets continue to price a higher likelihood of policy easing from the Federal Reserve (Fed) in the coming months.The S&P Global Composite Purchasing Managers Index (PMI) rose slightly to 54.8 in November from 54.6, signalling continued growth in private-sector activity. The Services PMI improved to 55, while the Manufacturing PMI slid to 51.9, suggesting softer but still positive momentum in the goods sector. The…
The Canadian Dollar (CAD) holds steady against the US Dollar (USD) on Friday, with USD/CAD hovering near 1.4100 as the Greenback stages a rebound after briefly losing momentum on dovish comments from New York Federal Reserve (Fed) President John Williams.Fed Williams said he still sees room for a near-term rate cut, acknowledging that progress on inflation has stalled even though he expects price growth to return to the 2% target by 2027. He noted that economic activity has cooled and the labour market continues to ease gradually, with downside risks to employment becoming more pronounced. Williams added that recent tariff…
What might happen soon to the crypto short sellersBitcoin has been under heavy pressure, and the latest performance metrics show a market that has clearly entered a corrective phase. The short term and medium term numbers tell the story. Over the last week BTC is down 16.75%. Over the last month it is down 25.25%. The three month figure is similar at 26.39%. Even the six month change sits around 25.35%, which is rare when Bitcoin is coming from a strong trend. Year to date performance is still negative at 12.88%, and the one year move is down more than…
Gold (XAU/USD) trades on the back foot on Friday, weighed down by fading hopes of a December interest rate cut from the Federal Reserve (Fed). At the time of writing, XAU/USD is trading around $4,035, down nearly 1.0% on the day, as the metal continues to oscillate within the range established earlier this week.Markets had already been dialing back expectations for a December rate cut, with most Fed officials striking a noticeably cautious tone in recent weeks. Policymakers have repeatedly warned that inflation remains sticky and that the labour market, while cooling, is still resilient enough to justify a more…
Bread Financial (BFH) announced the pricing of its underwritten public offering of depositary shares, each representing a 1/40th interest in a share of its Series A non-cumulative perpetual preferred stock, with a liquidation preference of $25 per depositary share. The Source link