GBP/USD extends backslide for Friday, aimed for 1.21
The GBP/USD slipped further on Friday, seeing a mild intraday rebound into 1.2222 before slumping back into fresh lows for the week and tapping 1.2122. With broader markets favoring the US Dollar (USD) on risk aversion sparked by Federal Reserve (Fed) rate fears, the Pound Sterling (GBP) is struggling to find a bid heading into Friday's market close. Read More...
Pound Sterling falls back as Middle East conflicts escalate
The Pound Sterling (GBP) dropped from a two-week high as the United Kingdom’s economic outlook weakened after factory output contracted for the second consecutive month. The GBP/USD pair surrendered the majority of recent gains as data from the US showed inflation remains persistent, denting the risk appetite of market participants. UK’s manufacturing and overall Industrial Production dropped in August as firms cut spending on labor and inventory due to a poor demand outlook. Read More...
GBP/USD hovers around 1.2200 post recent losses on upbeat US data
GBP/USD retraces the recent losses that were registered on Thursday, trading higher around the 1.2200 psychological level. However, the pair faced challenges due to the optimistic economic data from the United States (US). Read More...
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EUR/USD stabilizes near 1.0500, looks to post weekly losses
EUR/USD extended its daily decline toward 1.0500 in the second half of the American session, pressured by the souring market mood. Despite the bullish action seen earlier in the week, the pair remains on track to register weekly losses.
GBP/USD falls below 1.2150 as USD rebounds
Following an earlier recovery attempt, GBP/USD turned south and declined below 1.2100 in the second half of the day on Friday. The negative shift seen in risk mood amid rising geopolitical tensions helps the US Dollar outperform its rivals and hurts the pair.
Gold advances to fresh multi-week highs above $1,920
Gold extended its daily rally and climbed above $1,920 for the first time in over two weeks on Friday. Escalating geopolitical tensions ahead of the weekend weigh on T-bond yields and provide a boost to XAU/USD, which remains on track to gain nearly 5% this week.
Bitcoin could be an alternative to US-listed companies but not in the short term
Bitcoin has dipped below $27,000, adding to the subdued cryptocurrency market sentiment. While short-term price concerns persist, analysts predict a rebound based on historical figures.
Nvidia Stock Forecast: NVDA slips as Biden administration attempts to close AI chip loophole
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