GBP remains soft. Economists at Scotiabank analyze Sterling’s outlook.Losses may remain contained above the 1.20 level.Sterling is consolidating but price action retains a soft undertone and minor gains in the Pound since Friday’s low may simply reflect a consolidation ahead of another push lower. Sterling also looks heavily oversold on the longer run charts, however, so losses may remain contained above the 1.20 level.
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EUR/USD holds steady above 1.0500 despite cautious mood
EUR/USD holds steady above 1.0500 despite cautious mood
EUR/USD continues to trade in positive territory above 1.0500 on Monday. The US Dollar struggles to stay resilient against its peers to start the week but cautious market mood amid escalating geopolitical tensions doesn’t allow the pair to gather bullish momentum.
EUR/USD News
GBP/USD rises toward 1.2200 on modest USD weakness
GBP/USD rises toward 1.2200 on modest USD weakness
GBP/USD regained its traction after falling below 1.2150 in the European morning on Monday and advanced toward 1.2200. The broad-based US Dollar weakness helps the pair edge higher but investors remain on edge while keeping an eye on tensions in the Middle East.
GBP/USD News
Gold rebounds from daily lows, trades above $1,920
Gold rebounds from daily lows, trades above $1,920
Gold started the new week on the back foot and declined below $1,910 after gaining more than 3% on Friday. As the benchmark 10-year US Treasury bond yield turned south and dropped below 4.7%, however, XAU/USD staged a rebound and rose above $1,920.
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