September 29, 2024 at 11:56PM A note from Rabobank argues that Sterling might continue to outperform the euro in coming months Cites due to the Bank of England’s cautious approach to cutting interest rates. Rabo adds that October could prove a rocky month for both currencies U.K. budget on October…
September 27, 2024 at 02:32PM The US PCE data was lower than expectations and it helped to push the USD lower. For the EURUSD, the price has moved above a swing area between 1.1181 and 1.11897. The next targets are at 1.1200 and the high for the week at 1.12130.…
September 27, 2024 at 10:32AM Fundamental Overview The USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the…
September 26, 2024 at 10:44PM Goldman Sachs have ramped up their forecasts for GBP: their end of 2024 GBP/USD forecast is 1.34 (from 1.27) GS target 0.82 for EUR/GBP Analysts at the bank have a supportive list for sterling: Resilient risk: “Markets have priced out US recession risk, benefiting risky…
September 26, 2024 at 04:35PM In the Kickstart video from earlier this morning, I highlighted the 1.3348 as the key barometer on the downside for the GBPUSD today. Move below it would be more bearish. Stay above it would be more bullish. This is the reference to that level: Looking…
September 25, 2024 at 07:40PM Earlier today, the price of the GBPUSD moved to the highest level going back to January 2022. In the process, the price moved into a swing area between 1.3411 and 1.3511 on the weekly chart (see red numbered circles on the weekly chart).. Seller on…
September 25, 2024 at 11:33AM Fundamental Overview Yesterday, the US Consumer Confidence report surprised to the downside with one of the largest drops since 2021. The labour market data in the report softened a lot and it generally leads the unemployment rate. The market responded by raising the probabilities for…
September 24, 2024 at 02:00PM It is important to understand what is driving market from a technical perspective. Technical levels give traders bias defining levels, risk defining levels and targets. Kickstart video I take a look at three of the major currency pairs – the EURUSD, USDJPY and GBPUSD –…
September 23, 2024 at 06:24PM Earlier today in the kickstart video, I spoke about the GBPUSD price action and the next target. As a review, I said the following: At the time, the price was trading at 1.3324. So what happened? The price did move above the 1.3338 and the…
September 22, 2024 at 11:34PM Ladt week the Bank of England left rates unchanged: ForexLive European FX news wrap: BOE hold rates Nomura says GBP could rise even further now: “There appears to be little appetite on the Monetary Policy Committee to rush into rate cuts,” rate-cut expectations appear excessive…
