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GBP/USD remains on the back foot, trading in negative territory below 1.2550 as weak data from the UK puts pressure on Pound Sterling. The Gross Domestic Product (GDP) contracted by 0.3% on a monthly basis, signaling economic challenges. Additionally, wage… Read More »Pound Sterling Weighed Down by Contracting GDP and Declining Wage Inflation: Ahead FOMC, PPI
Date Events and Reports Monday 10-year Bond Auction in the United States Tuesday RBA Governor Bullock Speech Britain’s Claimant Count Change Average Earnings Index 3m/y Wednesday Key Inflation Metrics in the US Britain’s GDP m/m Report Thursday New Zealand’s GDP… Read More »Market Outlook for the Week: Key Events and Reports
Tuesday’s reading on job openings in October revealed a decline in labor market demand. Job openings slid to 8.73 million last month, down from 9.35 million in September and 10.47 million in the previous year. The number of hires and… Read More »US Stocks Closed Mixed, Bond Yields Tumble on Heels of Slowing Labor Market Demand
In recent days, Bitcoin has experienced a significant surge in price, surpassing $41,000 and reaching its highest level since April 2022. This upward trend has been fueled by various factors, including anticipation of the approval of a spot bitcoin exchange-traded… Read More »Bitcoin’s Price Surge and Market Developments
EUR/USD is struggling below 1.1000, as the US Dollar clings to recovery gains in Asian trading hours on Thursday. Wednesday’s softer-than-expected German and Spain inflation data weighed on the Euro. Investors await the Eurozone inflation data on Thursday for fresh… Read More »EUR/USD remains capped below 1.1000, EU/ US inflation data eyed
Global stocks showed resilience on Tuesday, as investors maintained confidence that the Federal Reserve would not raise interest rates further. This sentiment kept the dollar at three-month lows and supported gold prices above $2,000 per ounce. Key Economic Data to… Read More »Stocks Hold Steady as Dollar Wavers Ahead of US Data
Binance, a leading cryptocurrency exchange, is poised to completely withdraw from the U.S. market while complying with substantial fines and initiating a five-year oversight program. This development comes in the wake of its settlement with the Financial Crimes Enforcement Network… Read More »Binance to Exit US in Deal: Bitcoin Peaks Above $37,000, a Look at the Recent Upswing
The US stock and bond markets will be closed in observance of Thanksgiving Day, which might make it challenging for EUR/USD to find a clear direction leading up to the weekend. EUR/USD Gains Amid Positive Eurozone Data EUR/USD is maintaining… Read More »EUR/USD and GBP/USD Performance Amid Positive PMI Data
As we start the new trading week on Monday, 20th November 2023, it’s crucial to understand that global events significantly impact the forex market. From geopolitical incidents to economic policy shifts, these events can quickly and dramatically influence currency values.… Read More »Central Bank Leaders Take the Spotlight: Anticipating a Week of Key Speeches and Their Potential Effects on Forex Markets
In the European trading session on Wednesday, GBP/USD underwent a moderate bearish pressure, leading to its decline below 1.2500. A marked softening in the annual CPI inflation from 6.7% in September to 4.6% in October resulted in Pound Sterling losing… Read More »The GBP/USD Decline After Soft UK Inflation Data: EUR/USD In Overbought Territory
