GBP/USD retreats 1.70% from its year-to-date high of 1.3043, trading at 1.2826. Technical outlook shows bearish momentum, with key support at 1.2800 and potential further losses to 1.2612-1.2622 area. Buyers need to push past 1.2893 to challenge 1.2900 and higher resistance levels.The GBP/USD begins the week on the back foot …

The Federal Reserve Bank of Dallas released Dallas Fed Manufacturing Index report. The report indicated that Dallas Fed Manufacturing Index declined from -15.1 in June to -17.5, compared to analyst forecast of -12.Production Index declined from 0.7 in June to -1.3 in July, while New Orders Index decreased from -1.3 …

Several factors dominated market activity throughout last week, including economic data, developments in the US political landscape ahead of the 2024 presidential election, escalating geopolitical tensions in the Middle East amid the ongoing war in Gaza, and updates on the monetary policies of central banks in major economies. Economic Data …

In the days leading up to the important OPEC meeting on August 1, oil prices are collapsing. The drop this week, which was caused by worries over China’s slowing consumption, puts the oil cartel in a risky position as it navigates a volatile market. At the time of writing WTI …

Canada’s corporate earnings season is set to kick off with a bang, as key players from diverse sectors prepare to unveil their financial performance. From the energy giants Topaz Energy and Gibson Energy to the consumer-focused Tilray Brands, the week of July 29th promises a wealth of data that will …

Gold prices surged 1.01% on Friday, supported by lower US Treasury yields amid growing optimism for an interest rate cut by the Fed in September after data showed US prices rose modestly in June.Spot gold was up about 1.01% to $2,389.71 per ounce, after hitting its lowest since July 9 …

As stable US core PCE inflation growth seems insufficient to affect firm Fed rate-cut expectations, the US dollar declines. It is largely expected that the Fed will hold interest rates steady the following week. The confidence of Fed policymakers on the return of inflation to a 2% path has increased. …

It is like a coin toss when the Bank of England decides on interest rates next week. The market is not as sure as most analysts that a rate cut will occur next week. There is disagreement among the members of the central bank’s policymaking committee; some support lowering interest …

The US Dollar Index held near 104, influenced by yen movements and rate cut speculation. The release of PCE data, personal income, personal spending, and the final Michigan Consumer Sentiment is expected to impact the dollar.The euro recovered recent losses, trading near 1.0870 against the dollar. The ECB’s Consumer Inflation …

The economic landscape is shifting as evidence of cooling inflation becomes increasingly apparent. The June Personal Consumption Expenditures (PCE) Price Index report, a key metric closely watched by the Federal Reserve, is anticipated to reflect continued moderation in price growth. This positive trend, driven by factors such as declining gas …