EUR/GBP steadies around 0.8350 as investors await the release of multiple economic indicators. The UK’s Unemployment Rate may remain stable while Average Earnings are expected to elevate. The ECB may prefer an interest rate hike despite flat German HICP. The EUR/GBP pair is auctioning in a narrow range of 0.8349-0.8353 on Tuesday ahead of the
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GBP/USD outlook: Bears probe again through key 1.30 support Cable remains in a negative mode in early Monday and probed again through key 1.30 support (psychological/Mar 15 low), following last Friday’s short-lived dip to 1.2982 (the lowest since Nov 2020). Rising US dollar keeps the pound in defensive, while weaker than expected UK Feb GDP
Russian Ambassador to the US Anatoly Antonov earlier told Newsweek the West is provoking Russia. “We warn that such actions are dangerous,” the envoy said. “They can lead the US and the Russian Federation onto the path of direct military confrontation.” Meanwhile, the White House national security adviser Jake Sullivan said Sunday that Ukrainian forces are pushing back
GBP/USD Weekly Forecast: Downside risks remain intact ahead of a big week GBP/USD booked the second straight week of losses, as bears refused to give in amid hawkish Fed-driven sentiment and risk-aversion. Cable touched its lowest level since November below 1.3000, as King dollar reigned supreme, partly buoyed by the US bond market rout. With
The USD/JPY ended the week on the right foot, gaining 1.42%. High US Treasury yields underpinned the USD/JPY pair. USD/JPY Price Forecast: The pair is upward biased, but it might correct courtesy of RSI showing overbought conditions. The USD/JPY is set to finish the week above the 124.00 mark for the first time in the
The USD/RUB is set to end the week with losses, of 6.18%, despite Friday’s jump. The Russia-Ukraine hostilities and peace talks continue but at a slower pace. USD/RUB Price Forecast: Bulls charged at the break of the 200-DMA and pushed the pair up 500 pips. The USD/RUB fell and reached a fresh monthly low at
The USD/CHF seesawed in the 0.9327-73 range as the pair failed to conquer 0.9400. An upbeat market mood was no excuse for the safe-haven Swiss franc to gain vs. the greenback. USD/CHF Price Forecast: A series of successive higher highs/lows in the 4-hour chart keep the uptrend intact. The greenback gives back most of its
NYSE:AMC fell by 3.24% during Thursday’s trading session. AMC continues to decline after its mini short squeeze last week. Sonic the Hedgehog 2 is the blockbuster hitting theaters this weekend. NYSE:AMC investors are in the opposite of seventh heaven right now as the meme stock fell for a seventh consecutive session on Thursday. Shares of
EUR/USD is eyeing more downside as DXY strengths on discussions of restoration to neutral rates. The shared currency has failed to capitalize on hawkish ECB minutes and decent Retail Sales. Members of the UN Human Rights Council voted in favor of ceasing Russia as an associate. The EUR/USD pair has displayed a six-day losing streak
SBFM stock soared 148% on Tuesday on positive cancer mRNA news. Sunshine BioPharma shares then added another 12% on Wednesday to close at $6.29. The pharma company stock was up again in Thursday’s premarket to $5.49. Sunshine BioPharma has been one of the standout performers of the week with a staggering gain on Tuesday. SBFM stock
The DXY is marching towards 100.00 as the hawkish stance of the FOMC minutes has improved safe-haven appeal. Balance sheet reduction is likely to remain at an elevated pace. US administration has imposed full blocking sanctions on Russia’s giant banks. The US dollar index (DXY) is heading towards the psychological figure of 100.00 on tailwinds
Gores Guggenheim stock falls nearly 5% after strong gains on Monday. GGPI stock had rallied 11% on news of a partnership between Polestar and Hertz. GGPI is due to take Polestar public via the SPAC deal in the first half of 2022. Gores Guggenheim (GGPI) failed to charge higher on Tuesday after the stock did just
The DXY has established above 99.00 and is eyeing 100.00 amid hawkish Fed officials. Fed Governor Lael Brainard has cleared that the Fed will start reducing the balance sheet size soon. An outperformance of US Services PMI has infused fresh blood into the DXY. The US dollar index (DXY) has finally turned imbalance after consolidating
GBP/JPY attracted some dip-buying on Tuesday and turned positive for the third straight day. A combination of factors undermined the JPY and remained supportive of the intraday uptick. Modest USD weakness, upbeat UK PMI benefitted the GBP and provided an additional boost. The GBP/JPY cross held on to its modest intraday gains through the first
GBP/USD bulls firming into the close, retaking 1.3100 GBP/USD is flat on the day and has traded between a low of 1.3086 and a high of 1.3136, sustaining US dollar strength better than its rival, the euro, for now. The US dollar is robust at the start of the week, with the DXY higher on
NYSE:DIDI gained 12.80% during Friday’s trading session. The Chinese government agrees to work with US Auditors for ADRs. Chinese ADR stocks skyrocket to close the week. NYSE:DIDI saw the tides turn on Friday as the beleaguered ride-hailing company saw its best performance in weeks. Shares of DIDI jumped by 12.80% and closed the trading week
NZD/USD pressured in the open on a firmer US dollar. Fed expectations underpin the greenback following Friday’s NFP. NZD/USD is holding near support at 0.6910 in the open, trading down some 0.10% after sliding from 0.6921 at the start of the session. The greenback is firm following Friday’s mixed Nonfarm Payrolls that points to a hawkish Federal
Gold slumps for the third day of the week amid an upbeat market mood and rising US yields. The 2s-10s yield curve inverted for the second time in the week as investors expect the US economy will slow down. Mixed US economic data was mainly ignored by XAU/USD traders. XAU/USD Price Forecast: In consolidation within