Stay ahead in the ever-changing forex market with our real-time updates, expert analysis, and comprehensive coverage. Explore breaking news, market insights, and actionable strategies on our forex news site. Empower your trading decisions with timely information from trusted industry experts.
© 2017 - 2024 www.faicy.lk - www.fxtamil.com.
News & Analyses
Upward Revision to Q2 GDP Aids the US Dollar’s Feeble Recovery
Gold (XAU/USD) and Silver (XAG/USD) Drift as US Dollar Pares Recent Losses
Libya Outages and Middle East Tensions Spark Supply Concerns. WTI Nears key $77.40 Resistance
FTSE 100, DAX 40 and S&P 500 are taking a breather ahead of Nvidia earnings
FTSE 100, DAX 40 and S&P 500 Bid Ahead of Powell Speech
Japanese CPI and Ueda’s Comments Prop up the Yen Ahead of Powell’s Address
Nikkei 225, Dow Jones and Nasdaq 100 Lose Upside Momentum
GBP/USD, EUR/GBP Outlooks – Sterling Weakens After Bank of England Commentary
GBP/USD and EUR/GBP Analysis and ChartsMost Read: British Pound Weekly Forecast – Lighter Data Week Could Mean Some RespiteOur brand new Q2 British Pound Forecast is available to download for free below:
Recommended by Nick Cawley
Get Your Free GBP Forecast
UK inflation will continue to fall towards target, and potentially quicker-than-originally predicted, according to the governor and deputy governor of the Bank of England. Earlier this week governor Bailey said that inflation was moving lower and ‘in the right direction’ for a cut and that the UK is ‘disinflating at what I call full employment…strong evidence now that the process is working its way through’.Late Friday, BoE deputy governor Dave Ramsden said that he has now ‘become more confident in the evidence that risks to persistence in domestic inflation are receding, helped by improved dynamics.’ Ramsden added that relative to the February official forecasts risks to inflation are pointed to the downside, ‘with a scenario where inflation stays close to the 2% target over the whole forecast period at least as likely.’ The BoE forecast for a three-year period.The latest UK rate cut probabilities have shifted forward with the first 25 basis point cut now expected at the August 1st central bank meeting.For all central bank meeting dates. See the DailyFX Central Bank CalendarFor all market-moving economic data and events, see the DailyFX Economic CalendarWith UK rate cuts now seen earlier, the British Pound is weakening across the board. Against a resilient US dollar, cable has now fallen below 1.2400 and seems set to test the 1.2313 (61.8% Fibonacci retracement) and then the 1.2303 level. Below here, big figure support at 1.2200 and 1.2100 before 1.2039 comes into focus.
Recommended by Nick Cawley
How to Trade GBP/USD
GBP/USD Daily Price ChartIG Retail data shows 71.54% of traders are net-long with the ratio of traders long to short at 2.51 to 1.The number of traders net-long is 0.56% lower than yesterday and 1.64% higher from last week, while the number of traders net-short is 2.07% higher than yesterday and 5.74% lower from last week.We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.See How Changes in IG Client Sentiment Can Help Your Trading Decisions
of clients are net long.
of clients are net short.
Change in
Longs
Shorts
OI
Daily
0%
7%
4%
Weekly
-41%
93%
-4%
Sterling’s weakness can be seen a little better against the Euro. The ECB is fully expected to cut rates by 25 basis points in June, and potentially again in July, leaving the ECB ahead of the BoE in the rate-cutting cycle. Despite this, the Euro strengthened sharply against the British Pound at the end of last week and is looking to build on those gains today. A clear break of 0.8620 would leave 0.8701 and 0.8715 as the next resistance levels.EUR/GBP Daily Price ChartWhat is your view on the British Pound – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.
element inside the element. This is probably not what you meant to do!
Load your application’s JavaScript bundle inside the element instead.
Source link
Ethereum dips below $2,300 following August NFP data, JP Morgan weighs in on ETH ETF performance
Bears extend their control, aiming for 87.00
US Dollar holds steady after mixed NFPs
Holds steady as US data leaves Fed rate cut uncertainty
XRP dips to one-month low close to $0.53, Ripple co-founder backs Kamala Harris for US presidential election
US Dollar pops after NFP footnotes are enough to dampen hopes for a 50 basis point rate cut in September
Crypto News
Ethereum dips below $2,300 following August NFP data, JP Morgan weighs in on ETH ETF performance
XRP dips to one-month low close to $0.53, Ripple co-founder backs Kamala Harris for US presidential election
Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs
Vitalik Buterin says all Layer-2 token holdings will be donated to charity, won’t sell for profit
WazirX, Penpie hackers move stolen funds via Tornado Cash
Bitcoin faces potential decline if it falls below $56,000 threshold
TON up as Telegram CEO speaks up following arrest
News & Analyses Analyses
Ethereum dips below $2,300 following August NFP data, JP Morgan weighs in on ETH ETF performance
...
Bears extend their control, aiming for 87.00
...
US Dollar holds steady after mixed NFPs
...
Holds steady as US data leaves Fed rate cut uncertainty
...
XRP dips to one-month low close to $0.53, Ripple co-founder backs Kamala Harris for US presidential election
...