GBP/USD closes the week above 1.3600 frem 1.3405 lows in late September. BoE tightening expectations have fuelled the pound’s recovery. GBP/USD seen at 1.41 in 2022 – Westpac. The British pound has found support at 1.3610 after having hit resistance at one-week highs of 1.3660 earlier today. The pair consolidates above 1.3600 after a significant recovery from year-to-date lows
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EUR/USD retreats from daily highs around 1.1560’s amid US dollar weakness. EUR/USD: Failure to hold 1.1500 could send the pair tumbling towards 1.1348. The market sentiment is downbeat, as investors believe a Fed’s bond taper announcement is imminent. The EUR/USD rises above Thursday’s daily highs is trading at 1.1572, gaining 0.17% during the New York
GBP/USD reached its lowest level in over a year in the past month. As the Bank of England (BoE) could start raising rates this year despite rough economic conditions, economists at the National Bank of Canada expect the pound to strengthen. Sterling is expected to receive support from monetary policy “Gas shortages and difficulty finding
What you need to know on Friday, October 10: Markets were in a better mood on Thursday, amid news that US Senate majority leader Chuck Schumer announced an agreement on extending the debt ceiling by $408 billion until early December. Also, gas prices declined in Europe, taking off some of the pressure seen these days.
AUD/USD pares gains as the King dollar looks to find its feet. Recent surge in natural gas prices underpins the aussie’s comeback. The aussie awaits acceptance above 50-DMA resistance at 0.7306. Having faced rejection once again above 0.7300, AUD/USD is paring gains in the European session, despite the risk-on market profile. The latest leg down
NASDAQ:LCID finally finds a bottom, ends Wednesday in the green. Lucid’s first reviews are strong and news of its upcoming Gravity SUV leaks. After reporting record deliveries, Tesla’s short interest is at an all-time low. Update October 6: Lucid Group Inc managed to post a modest intraday advance on Wednesday, ending the day at $24.29 per
The response to the Euro area energy crisis may include aid and tax cuts, the European Union (EU) Energy Commissioner Kadri Simson said on Wednesday. Additional comments “Energy crisis hurting competitiveness risks recovery.” “Will propose a reform of the gas market by the end of the year, and will review in that context issues around
The sterling remains bid and approaches 1.3650. Expectations of a BoE rate hike are pushing the pair higher. GBP/USD: Further decline towards 1.3163/58 remains in the cards – DBS Bank. The sterling is set for its fourth positive day in a row, extending its rebound from year-to-date lows near 1.3400 last week to session highs right
Social networks Facebook, Instagram and WhatsApp have fallen globally and as never before as the social networks began to have intermittent problems since yesterday during the day, but as of today left 2.9 billion Facebook users, 2000 million WhatsApp users and the same from Instagram were unable to access the services . The most reported
Lucid Motors (LCID) stock pops and then drops. LCID stock fails at trend line resistance. Lucid Motors is due to deliver the first vehicles this month. Update: Lucid Motors (LCID) posted a 1.91% slide on Monday, ending the day at $24.14 per share. Wall Street opened with modest losses but quickly dipped into the red. The
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AUD/USD recovery from 0.7170 loses steam at 0.7270 area. The US dollar extends its pullback despite bright US data. The aussie remains offered while below 0.7390 – Commerzbank. The Australian dollar has appreciated against the USD for the second day in a row on Friday, to consolidate at 0.7270 after bouncing up from 0.7170 lows earlier
The market sentiment is upbeat weighs on US T-bond yields and the greenback. Eurozone inflation rose by 3.4%, above the ECB’s target, US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The EUR/USD is trimming losses, trading at 1.1596, barely up 0.13% during the day at the time of writing.
The risk-on market sentiment struck government bond yields and the US dollar. UK’s IHS Markit Manufacturing PMI came at 57.1, better than expected. US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM. The GBP/USD is staging a recovery, trading at 1.3547, up more than a half percent during the day
Western Texas Intermediate is ready for its six-weekly gain. Oil threatens to close above $75.00 for the first time in three months. WTI’s technical outlook looks poised for higher prices. Western Texas Intermediate (WTI) is advancing during the day, trading at $75.27, recording gains of 0.43% at the time of writing. WTI’s price action for
USD/JPY records fresh daily losses on Friday in the European session. The pair records a second straight day fall composed of more than 100-pips. Momentum oscillators hold onto the overbought zone and hint more downside for the pair. USD/JPY extend the previous session’s declines on the last trading day of the week. The pair opened
EUR/USD is potential carving out a new range between 1.1495 and 1.1602. Bears are looking to the highs of March 2020 as the next downside target. EUR/USD has been a real head turner this month, sliding from 1.1909 the high for September to a low of 1.1562 on this final day for the month. On the upside,
USD/CAD witnessed some selling on Thursday and eroded a part of the overnight gains. The onset of USD profit-taking seemed to be the only factor exerting downward pressure. Hawkish Fed expectations should help limit any meaningful slide for the USD and the pair. The USD/CAD pair remained depressed through the early European session and was