Sterling is only being held up by rate expectations
The more the market worries about the growth outlook in the UK, the more the prospect of further rate hikes beyond this week will a) fade away and b) scare investors.
Sterling, even more perhaps than the Euro, is only being held up by rate expectations. This week’s data calendar might not be too bad for the Pound if Retail Sales and the Services PMI both bounce and core CPI remains at 6.9%. But at best, that will delay what seems an inevitable move by GBP/USD back below 1.20.
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EUR/USD clings to small daily gains above 1.0700
EUR/USD clings to small daily gains above 1.0700
EUR/USD trades in positive territory, slightly above 1.0700 on Tuesday. The modest improvement seen in risk mood makes it difficult for the US Dollar to find demand and helps the pair stretch higher before the Fed’s two-day policy meeting starts later in the day.
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GBP/USD gains traction, rises above 1.2400
GBP/USD gains traction, rises above 1.2400
GBP/USD gained traction and turned positive on the day above 1.2400 following a choppy European session. Ahead of the Fed and the Bank of England’s highly-anticipated policy announcements, the upbeat market mood helps the pair hold its ground.
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Gold price consolidates gains above $1,930
Gold price consolidates gains above $1,930
Gold price fluctuates in a relatively tight channel above $1,930 on Tuesday after closing the first day of the week in positive territory. The 10-year US Treasury bond yield holds steady at around 4.3%, not allowing XAU/USD to make a decisive move in either direction.
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XRP price fights risk of decline, sustains above $0.50 despite NYDFS action
XRP price fights risk of decline, sustains above $0.50 despite NYDFS action
XRP price sustained above critical support at $0.50, fueling a recovery in the altcoin. The recent bearish catalysts in the market threatened the asset’s recovery.
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