The GBP\/USD pair experienced a 0.12% loss due to high US Treasury bond yields and global trade apprehensions. US Existing Home Sales dropped 2.2% in July, with limited inventory and high mortgage rates cited as causes.
The Richmond Fed’s Manufacturing Index met expectations with -7, while the Services Index surprised with a positive 4.
The GBP\/USD pair retreated after testing the 50-day Moving Average, registering losses of 0.12% at the time of writing. Global trade tensions rise due to China’s economic uncertainties, and US stocks experience a decline due to fragile market sentiment. US bond yields are mixed, with the short-end of the curve continuing to bull-steepen.
The US Dollar Index continues to rise, with the dollar advancing 0.26% at 103.588. Richmond Fed President Thomas Barkin emphasized that the yield shift is a reaction to robust economic data. The US economic docket will feature Fed speakers, S&P Global PMIs, Durable Good Orders, and New Home Sales.<\/p>\n","protected":false},"excerpt":{"rendered":"
The GBP\/USD pair experienced a 0.12% loss due to high US Treasury bond yields and global trade apprehensions. US Existing Home Sales dropped 2.2% in July, with limited inventory and high mortgage rates cited as causes. The Richmond Fed’s Manufacturing Index met expectations with -7, while the Services Index surprised with a positive 4. The …<\/p>\n","protected":false},"author":13,"featured_media":54454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7034,8477,9462,8324],"class_list":["post-88287","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gbp-usd","tag-risk-aversion","tag-tomas-barkin","tag-us-dollar-index"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=88287"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88287\/revisions"}],"predecessor-version":[{"id":88294,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88287\/revisions\/88294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54454"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=88287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=88287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=88287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}