Currency News

Forex Market: GBP/USD retreats for a third straight day on dismal UK retail sales data, elevated US-China tensions

GBP/USD continued to slide on Friday, as the Sterling was pressured by the latest string of somber macro data coming from the United Kingdom, while demand for traditional safe haven currencies such as the US Dollar increased due to escalating tensions between Beijing and Washington. Earlier on Friday, UK retail sales were reported to have […] Read more

Forex Market: EUR/GBP off eight-week highs ahead of ECB Policy Accounts release, UK’s April retail sales drop the most on record

EUR/GBP came off recent eight-week highs and traded within a relatively tight range during the late phase of the Asian session on Friday, as the rally driven by optimism over Europe moving closer to a fiscal union, seemed to have lost traction. However, the pair trimmed certain part of earlier losses after a Friday report […] Read more

Forex Market: GBP/USD recoups earlier losses on upbeat UK data, while negative interest rate uncertainty continues to persist

GBP/USD pared earlier losses during the late phase of the European trading session on Thursday, as better-than-expected UK manufacturing and services numbers by IHS Markit introduced some optimism following a string of dismal macro data released earlier. Preliminary data showed that UK’s Manufacturing Purchasing Managers’ Index rebounded more than expected in May to a reading […] Read more

Forex Market: EUR/GBP hits a fresh 8-week high ahead of UK manufacturing and services data, weak inflation still weighs on Pound

EUR/GBP touched a fresh eight-week high during the early phase of the European session on Thursday, since weak UK inflation data fueled negative interest rate prospects, mounting pressure on the Sterling. “The negative view we previously held for the kiwi on the back of a dovish Reserve Bank can now be extended to the pound […] Read more

Forex Market: GBP/USD remains rangebound as weak UK inflation data heightens negative interest rate probability

GBP/USD held steady during late European trade on Wednesday, recouping part of earlier losses, but startling UK inflation data may still weigh on the Sterling, as it supports the prospect of negative interest rates being introduced by Bank of England to prop up the pandemic-ravished economy. Earlier Wednesday, the Office for National Statistics reported that […] Read more

Forex Market: EUR/GBP set to retest May 18th seven-week high as UK consumer inflation slows more than expected in April

EUR/GBP was on its way up for a retest of the seven-week high from May 18th during early European trade on Wednesday, after UK’s Office for National Statistics said annual consumer price inflation in the country had decelerated to its lowest level since August 2016. The general Consumer Price Index increased 0.8% in April from […] Read more

Forex Market: GBP/USD trades near multi-day highs but upside seen limited as negative interest rate speculation persists

After advancing to a fresh multi-day high in early European trade on Tuesday on the back of improved risk appetite, GBP/USD gave back certain portion of gains later in the session, as downside risks such as the possibility of negative interest rates continued to pressure the Sterling. In a London School of Economics webinar late […] Read more

Forex Market: EUR/GBP off seven-week highs, UK’s April jobless claims reach their highest level since 1996

EUR/GBP came off recent seven-week highs during early European trade on Tuesday, following the latest string of employment data released from the United Kingdom. The Office for National Statistics said that the number of people who filed for unemployment benefits rose by 856,500 to 2.097 million in April due to the coronavirus pandemic, or the […] Read more

Forex Market: EUR/GBP trades near recent seven-week highs on negative interest rate prospects, UK employment data eyed

EUR/GBP remained in proximity to Friday’s seven-week high of 0.8959 during early European trade on Monday, as the prospect of negative interest rates still weighed on the Sterling. Such a move was not ruled out by Bank of England’s chief economist Andy Haldane. As of 7:06 GMT on Monday EUR/GBP was gaining 0.05% to trade […] Read more

Major Currency Pairs: Pivot Levels for Friday (July 21st 2017)

USD/CHF R1 – 0.9524 R2 – 0.9536 R3 (Range Resistance – Sell) – 0.9548 R4 (Long Breakout) – 0.9584 R5 (Breakout Target 1) – 0.9625 R6 (Breakout Target 2) – 0.9642 S1 – 0.9500 S2 – 0.9488 S3 (Range Support – Buy) – 0.9476 S4 (Short Breakout) – 0.9441 S5 (Breakout Target 1) – 0.9399 […] Read more