Economists at Credit Suisse discuss British Pound (GBP) outlook.GBP/USD to target 1.3000 and EUR/GBP 0.8450 near term.We think GBP will continue to benefit from supportive yield differentials and are not subscribers to the view that it should be sold due to either negative real rates in the United Kingdom or because the economy could eventually suffer a major slump. We continue to target GBP/USD 1.3000 and EUR/GBP 0.8450 near term.
EUR/USD clings to small daily gains above 1.1000 ahead of US CPI
EUR/USD continues to trade in positive territory slightly above 1.1000 as investors refrain from taking large positions. June Consumer Price Index data from the US will be watched closely due to its potential influence on the Federal Reserve’s rate outlook.
EUR/USD News
GBP/USD retreats below 1.2950 as focus shifts to US inflation report
GBP/USD retreats below 1.2950 as focus shifts to US inflation report
GBP/USD touched its highest level in 15 months at 1.2970 in the Asian session on Wednesday. With market participants moving to the sidelines ahead of the all-important US inflation report, the pair retreated below 1.2950, erasing its daily gains in the process.
GBP/USD News
Gold holds above $1,930, awaits US CPI data
Gold holds above $1,930, awaits US CPI data
Gold price trades modestly higher on the day above $1,930 after having closed in positive territory on Tuesday. The benchmark 10-year US Treasury bond yield continues to edge lower toward 3.9% ahead of US CPI data, helping XAU/USD hold its ground.
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