GBP/USD Weekly Forecast: BOE may save sterling after massive Fed-induced 300-pip blow GBP/USD has tumbled down in response to a Fed decision, UK reopening delay. The BOE’s decision and a bulk of US figures are set to move the currency pair. Mid-June’s daily chart is showing bears are taking over. The FX Poll is pointing
Month: June 2021
The Australian dollar was the laggard this week It was a big week in the FX market as the Fed flipped the script and turned hawkish. That caused an unwind in reflation trades and the commodity currencies were in the crosshairs. It speaks volumes that Australian added 115K jobs compared to 30K expected and it
Big fall today and down for the week The major European indices are ending the week on a sour note with big declines on the day. For the week the indices are also lower. Looking at the provisional closes: German DAX -1.9% France’s CAC -1.5% UK’s FTSE 100 -2.0% Spain’s Ibex -1.9% Italy’s FTSE MIB -1.8% For the week, the indices are
LONDON: Oil prices fell for a second straight session on Friday as the US dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off multi-year highs. Brent crude futures were down 60 cents, or 0.8%, at $73.68
Sterling is among the worst performing currency for today, together with commodity currencies. Poor retail sales data from the UK is weighing on the Pound. Additionally, the resurgence in coronavirus infections, now due to the delta variant, in the UK is concerning. Daily new cases jumped above 11k, after average around 2k just a month
St. Louis Federal Reserve President James Bullard told CNBC on Friday that he sees an initial interest rate increase happening in late-2022 as inflation picks up faster than previous forecasts had anticipated. That estimate is even quicker than the outlook the broader Federal Open Market Committee released Wednesday that caused a hit to financial markets.
The US economy is expected to grow by 3.7% and 4.4% in the second and the third quarter of 2021, respectively, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday. “News from this week’s data releases decreased the nowcast for 2021:Q2 by 0.5 percentage point and decreased the nowcast for 2021:Q3
Crypto.com Capital has made a strategic investment into a multichain NFT marketplace aiming to be the eBay for NFTs, dubbed “Hodooi.com.” The platform is a new startup from Travala Founder Matt Luczynski and will officially launch on Binance Smart Chain (BSC) in Q3 2021, and integrate with Ethereum in the same quarter. The Crypto.org Chain
Latest data released by ONS – 18 June 2021 Prior +9.2% Retail sales +24.6% vs +29.3% y/y expected Prior +42.4% Retail sales ex autos, fuel -2.1% vs +1.4% m/m expected Prior +9.0% Retail sales ex autos, fuel +21.7% vs +27.1% y/y expected Prior +37.7% The monthly figures are a little underwhelming but there are still
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The Australian dollar has had a dreadful 24 hours since yesterday’s blow-out good employment report. The chart is looking precarious, those plotting weekly bars/candles will be focused on where it finishes Friday in US time. Here is the daily chart, I’ll leave you to check out the weekly (ForexLive free charting is here if you
MELBOURNE: Oil prices fell for a second consecutive day on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but were nevertheless on track to finish the week flat – only slightly off multi-year highs. Brent crude futures were down 52 cents, or 0.7%, at $72.56 a
Dollar surges overnight after much hawkish than expected Fed interest rate projections. The case of near term bullish reversal continues to build up and there is prospect of further rally before weekend. Markets are relatively mixed elsewhere though. Australian Dollar is lifted by strong job data while New Zealand Dollar is supported by strong GDP.
People look at a home for sale during an open house on April 16, 2019 in San Francisco, California. Justin Sullivan | Getty Images The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a
In this article GM Brand new Chevrolet cars are displayed on the sales lot at Stewart Chevrolet on May 14, 2021 in Colma, California. Justin Sullivan | Getty Images General Motors expects the ongoing semiconductor chip shortage and rising inflation to increase its expenses during the second half of the year by up to $3
The Bank of Japan (BOJ) kept its monetary policy settings unchanged following the conclusion of its two-day monetary policy review meeting on Friday. The central bank kept the benchmark policy rate on hold at -10bps while maintaining its pledge to buy J-REITS at an annual pace of up to JPY180 bln. The BOJ, as widely expected, extended a deadline
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