Pound (GBP) Update: Sterling Reinforces Range Trading Tendencies
The pound seems to favour choppy, sideways price action. This has been evident for EUR/GBP for some time but now appears in GBP/USD after trendline breakdown
The pound seems to favour choppy, sideways price action. This has been evident for EUR/GBP for some time but now appears in GBP/USD after trendline breakdown
Rand weakness pushes USD/ZAR towards key resistance zone ahead of key SA and US economic data this week.
Commodities look poised to benefit should the Fed rate hike cycle be at an end. DXY and Market Sentiment likely to drive Gold, Silver prices this week as we have limited US data on the docket.
FTSE 100, DAX 40, CAC 40 face a quiet day ahead as the US is shut for Labor Day
The euro looks to reestablish itself against the US dollar but weak German export data could see EUR/USD heading towards 1.07 once again.
The US Dollar broadly underperformed as gold prices soared. Ahead, the Australian and Canadian Dollars are eyeing the RBA and BoC, respectively. Will crude oil prices extend a winning streak and what else is in store for markets in the week ahead?
Wall Street gained for the second straight day, as US Treasury yields took a breather after touching their recent highs.
The retreat in US Treasury yields amid a scaling back in US Federal Reserve rate hike expectations this year appears to have put a lid on USD/JPY.
The US jobs data released last Friday displayed signs of softening in the US labour market, while Wall Street continues to catch a breather from its recent rally.
The Australian Dollar has been battling to lift off the mid-August low but the recent rally might be constructive for it as it seeks to move back into a range trading environment.