May 29, 2020 6:40 am
EUR/GBP remained in proximity to fresh one-week highs during early European trade on Friday, after a report by the Federal Statistical Office showed German retail sales had dropped at a slower-than-expected rate in April. Retail sales decreased at a monthly rate of 5.3% in April, while the median analyst estimate had pointed to a 12.0% […]
Read moreMay 28, 2020 12:00 pm
GBP/USD edged lower for a second straight day on Thursday, while trading not far from yesterday’s closing level (1.2260), after reports emerged that Brexit negotiations were at a fundamental impasse. Additionally, the Pound was still pushed down by speculation over negative interest rates. A report by the Times newspaper earlier on Thursday stated that UK […]
Read moreMay 28, 2020 9:32 am
Gold prices rebounded from two-week lows overnight and the yellow metal extended gains during European trade on Thursday, as brewing tensions between Beijing and Washington supported demand for haven assets. Gold also drew support by the recently unveiled stimulus packages worth $1.1 trillion in Japan and EUR 750 billion in the European Union respectively, aimed […]
Read moreMay 28, 2020 6:55 am
EUR/GBP remained in a tight range close to yesterday’s one-week high (0.8994) during early European trade on Thursday, as the single currency was still supported after the announcement of a massive EU economic recovery package. “The Commission is today proposing a new recovery instrument, called Next Generation EU, within a revamped long-term EU budget. In […]
Read moreMay 27, 2020 12:31 pm
GBP/USD retreated from two-week highs overnight and remained in the red during late European trade on Wednesday, as the US Dollar strengthened and market players refocused on probability of negative interest rates in the United Kingdom. In a statement during a CBI webinar on Tuesday, Bank of England Chief Economist Andy Haldane played down the […]
Read moreMay 27, 2020 9:47 am
Gold prices remained close to a two-week low during European trade on Wednesday as demand for safe haven assets seemed to have faded on some optimism over economic activity recovery. Still, gold losses may be limited as rising US-China tensions remain a source of concern. “What we saw over the preceding 24 hours was a […]
Read moreMay 27, 2020 6:51 am
EUR/GBP slid for a third straight day on Wednesday, trading in proximity to intraday lows during the early phase of the European session, as market players awaited the European Commission’s detailed proposal for an economic recovery fund later in the day. Last week Germany and France proposed a EUR 500 billion Recovery Fund, which may […]
Read moreMay 26, 2020 11:34 am
GBP/USD extended gains and touched a fresh two-week high during the late phase of the European session, as the US Dollar lost ground amid rising investor optimism regarding economic recovery and after UK Prime Minister Boris Johnson announced plans of a wide-scale reopening of department stores and shopping centres in June. During a Monday news […]
Read moreMay 26, 2020 9:46 am
Gold prices drifted lower during Tuesday’s European trade, after the precious metal had drawn support in the previous sessions by tensions between Beijing and Washington over proposed new security laws on Hong Kong. While China’s foreign ministry office in Hong Kong and the city’s security chief spoke in defense of the proposed legislation and proclaimed […]
Read moreMay 26, 2020 7:06 am
EUR/GBP remained relatively stable near intraday lows during early European trade, as market sentiment was affected by both rising optimism over a global recovery from the coronavirus pandemic and by concerns over escalating US-China tensions. With restrictive measures on businesses and movement being gradually lifted, investor optimism over a swift return to growth seemed to […]
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