EUR/GBP could continue to nudge up towards 0.89.

Sterling has taken rather a back seat so far this year. Economists at ING believe that the EUR/GBP pair could extend its move higher toward 0.89.

UK data will be key this week

“95 bps of tightening is now priced in by August this year. It is not clear that this week’s data will add to those softer expectations – wages and inflation could remain high – but we do see those BoE tightening expectations coming under pressure over coming months.

“EUR/GBP could continue to nudge up towards 0.89, which is our target for the end of this first quarter.”

EUR/USD reverses toward 1.0800 as US Dollar recovers

EUR/USD is falling back toward 1.0800, retracing sharply from a nine-month high of 1.0874 in early Europe. Markets are turning cautious, helping the US Dollar stage a comeback amid thin market conditions. 


Gold price retreats toward $1,900 amid overbought conditions

Gold price is taking a breather after hitting the highest level seen since April 2022 at $1,929. Investors contemplate the next move amid a holiday in the United States. Gold price sees a pullback amid overbought technical conditions and the US Dollar rebound. 

Gold News 

GBP/USD corrects below 1.2200 amid USD rebound

GBP/USD is extending its correction below 1.2200 in the early European trading hours on Monday. The US Dollar is finding fresh demand, despite bets for smaller Fed rate hikes, as risk sentiment turns sour. Recession fears weigh on Cable ahead of BoE Bailey’s testimony.

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