May 29, 2020 11:45 am
GBP/USD maintained ground above the 1.2300 mark during late European trade on Friday, mostly on weaker US Dollar, while risks such as Brexit uncertainty, rising debt, sluggish recovery and negative interest rates continued to weigh on Sterling, restraining the upside. “The medium-term outlook remains negative for sterling as the no-deal Brexit anxieties will likely curb […]
Read moreMay 29, 2020 9:18 am
Having retreated to a two-week low on Wednesday on economic recovery optimism, Gold prices edged up for a second straight day on Friday, as worsening relations between Beijing and Washington seemed to have taken hold of market sentiment, supporting demand for safe haven assets. The precious metal is also poised to register its second straight […]
Read moreMay 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 […]
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