GBP/USD initially spiked up before retreating on the UK data-dump. UK Q2 GDP contracted 0.1%, monthly statistics remained fairly mixed for June. US dollar weakness initially helped cable bulls but Fed’s resistance to welcome inflation probed upside momentum. First impressions of the US Michigan Consumer Sentiment Index for August will be eyed to confirm inflation-linked… Read More »
Steel price prints mild gains on the way to fourth weekly uptrend. China real-estate market’s conditions, restart of steel manufacturing units challenge bulls. Fedspeak, US-China tussles and firmer yields are an extra burden on the metal prices. Increased prices of iron ore, recently easy inflation data add to the bullish catalysts. Steel price grinds higher… Read More »
GBP/USD keeps pullback from one-week high, holds lower grounds near daily lows. US dollar retreats as Fedspeak fails to praise inflation miss, China-linked news favor safe-haven demand. UK ministers will meet major energy firms amid talks of tightening a 25% levy on the North Sea oil and gas operators. US Jobless Claims, PPI will also… Read More »
EUR/JPY picks up bids to reverse the week-start pullback, grinds higher around daily top. Yields consolidate previous day’s losses amid a sluggish session. Japan Machine Tool Orders, fewer challenges for BOJ appear to favor the pair buyers. EUR/JPY remains firmer, following a softer start to the week, despite the latest pullback from the intraday high… Read More »
GBP/JPY remains depressed amid mixed clues, inactive markets. Yields seek fresh clues to consolidate Friday’s rally ahead of US inflation. UK politics, Brexit woes exert downside pressure amid dormant session. Hopes that Japan’s cabinet reshuffle won’t affect BOJ monetary policy test bears. GBP/JPY remains mildly offered around 163.00 heading into Tuesday’s London open. Even so,… Read More »
EUR/USD remains sidelined after trimming the week-start gains. Italian politics, German gas crisis and US-China tussles over Taiwan seem to challenge bulls. Firmer EU Sentiment data, downbeat yields restrict downside momentum. Second-tier employment-related US data will join risk catalysts to direct short-term moves. EUR/USD seesaws around 1.0200, after retreating from 1.0221, as traders seek fresh… Read More »
EUR/JPY prints five-day uptrend while extending the bounce off the lowest levels since mid-May. Softer US dollar, hopes of sustained easy money policies from the Bank of Japan (BOJ) favor pair buyers. Moody’s downgrade Italy’s credit outlook, yields pare post-NFP gains amid a sluggish session. Downbeat Japan data, weekend numbers from China appeared to have… Read More »
Italian politics are a focus for the start of the week in the run-up to the September 25 election and the news that an Italian centrist party has fallen out with the Democrats could be a weight for an already beaten down euro. Days after agreeing to join forces in a bid to prevent a right-wing… Read More »
