GBP/USD falls below 1.3400 as US data impresses, attention turns to PCE
GBP/USD dropped by 0.78% on Thursday, falling below all key SMAs and reaching a four-week low. US economic data lessens Dovish Fed expectations, bolstering the dollar and putting pressure on the pound. The US agenda includes core PCE, consumer sentiment, and speeches from Fed officials. On Thursday, GBP/USD closed over 0.78% lower, and it seems […]
How Bitcoin Traders Are Getting Ready for Inflation Data and What to Expect Next
Simply put Bitcoin is currently priced at $111,336, reflecting a daily drop of 1.8% and a weekly decline of 5.4% as investors await the upcoming PCE inflation data. In the forecasts, 61% of users believe BTC will dip to $105,000 before hitting a new high, with selling pressures expected between $115,000 and $119,000. The likelihood […]
GBP/USD drops to a three-week low as positive US data strengthens the Dollar.
The British Pound is down as US economic data spurs increased demand for the dollar. US GDP experienced notable growth. Unemployment claims and durable goods orders exceeded expectations. Focus now shifts to the Core PCE Inflation Report due on Friday, which will offer insights into the Fed’s upcoming strategies. On Thursday, the British Pound (GBP) […]
Pound Sterling shows restraint against US Dollar ahead of important US economic data release
The pound is trading around 1.3450 against the US dollar, facing various economic indicators like unemployment claims and durable goods orders. Officials from both the Federal Reserve and Bank of England have expressed concerns about increasing inflation risks. Boe Greene has noted a decreased risk of a trade war. Pound Sterling (GBP) is showing caution […]
When will the US Durable Goods Orders data be released and what impact could it have on EUR/USD?
US Durable Goods Order Data Overview The US Durable Goods order data is set to be released today at 12:30 GMT. The Census Bureau is anticipated to report a third consecutive decline in new orders for durable goods. However, this drop is expected to be moderate at 0.5%, a decrease from the larger 2.8% contraction […]
Australian Dollar strengthens after Monthly Consumer Price Index data
The Australian Dollar Rises After CPI Release The Australian dollar gained ground following the release of the monthly consumer price index (CPI) on Wednesday. The CPI in Australia increased by 3.0% year-on-year in August, up from a previous 2.8% in July. Federal Reserve Chairman Jerome Powell indicated that further rate cuts could be on the […]
Stargate project reveals plans for five new AI data centers in various states across the US
Stargate Project Aims to Propel US into AI Leadership The ambitious $500 billion Stargate initiative is geared towards giving the US a competitive advantage in artificial intelligence. This effort has gained momentum with the announcement of five new AI data center locations disclosed on Tuesday by companies involved in the project. OpenAI, Oracle, and Softbank […]
Trump to finalize TikTok agreement ensuring US majority stake and control over user data
Trump to Sign TikTok Deal This Week WASHINGTON – President Trump is set to finalize a TikTok agreement this week, which would give American investors majority control and ensure that U.S. companies handle user data, a senior official from the White House shared on Monday. The terms of the deal involve TikTok’s operations transitioning to […]
Gold reaches a record high, but upcoming US data may cause a decline.
A basic overview Gold has achieved a new all-time high today. This bullish trend has been gaining momentum since Friday. There isn’t a strong negative factor influencing the market, allowing it to continue moving forward on inertia. However, the Federal Reserve’s projected interest rate paths are not as aggressive as what the market reflects. This […]
US Dollar Outlook: DXY Recovery Faces Challenge from Friday’s PCE and Sentiment Data
In recent discussions, there’s been some chatter around how cryptocurrencies and other financial products can impact everyday decisions. I mean, it’s interesting, right? People are looking to dive into investments like cryptocurrencies and CFDs, but it’s crucial to understand the risks involved. The truth is, these instruments can be pretty complex, and there’s a significant […]