GBP/USD Price Outlook: Key resistance level appears around 1.3600, traders look ahead to US PPI announcement
GBP/USD is expected to rise to around 1.3540 during the early European session on Wednesday. The optimistic outlook for the pair is evident beyond the 100-day EMA, reinforced by bullish RSI indicators. Immediate resistance levels seem to be in the 1.3585-1.3600 range, while the first support to monitor is at 1.3496. The GBP/USD pair is […]
Pound Sterling gains against US Dollar, reducing some losses tied to PPI.
The pound saw a slight increase against the US dollar after reaching a peak near 1.3600, primarily impacted by high PPI data from the US. Inflation among US producers is rising at the fastest rate in three years due to tariffs, which is bolstering the US dollar. Investors are keenly awaiting data on US retail […]
GBP/USD ends its winning run following strong US PPI inflation data
GBP/USD decreased on Thursday, influenced by a rise in demand for the US dollar. US PPI inflation spiked in July, leading to a flight towards dollar safety. The market has adjusted its expectations for multiple Federal Reserve rate cuts by the year’s end. On Thursday, GBP/USD pulled back due to increasing US inflation data, which […]
US Dollar Index declines toward 98.00 before US PPI release
The US Dollar Index is expected to decline during Friday’s Asian session. The Producer Price Index (PPI) in the US rose more than anticipated in July. Market participants are looking forward to the July retail sales data being released on Friday. The US Dollar Index (DXY), which measures the dollar’s performance against a group of […]
EUR/USD falls sharply as high US PPI dampens expectations for large Fed rate cuts
Market Overview: EUR/USD Drops Post US Inflation Data After a notable rise in US producer price indices (PPIs) for July, EUR/USD decreased by 0.57%, landing at 1.1638. Inflation is impacted by tariff adjustments, while unemployment claims show a slight decline, pointing to a sturdy labor market. The market is beginning to discount a Federal Reserve […]
EUR/USD falls back as US dollar strengthens following July PPI inflation increase
The EUR/USD dropped to 1.1650, a decrease of 0.45% for the day, breaking a two-day upward trend. The US Dollar Index (DXY) has bounced back past the key level of 98.00 after reaching a two-week low. US PPI data reflects a significant rise in July, with both headline and core figures exceeding forecasts. On Thursday, […]
Worries about inflation resurface as July PPI rises beyond expectations
Wholesale Inflation Surges in July Wholesale inflation unexpectedly increased in July, raising concerns about inflationary pressures in the economy. The Bureau of Labor Statistics revealed a 0.9% rise in the Producer Price Index (PPI) from June, marking a 3.3% increase compared to last year. This surge surpassed economists’ expectations, who predicted a modest 0.2% monthly […]
GBP/USD remains stable above 1.3550 as traders anticipate UK GDP and US PPI data.
GBP/USD remains steady near 1.3575 during Thursday’s Asian session. The UK’s unemployment rate has climbed to 4.7%, the highest in four years, amid economic downturn. Attention will be on the UK Q2 GDP report and the US PPI data for July later on Thursday. During the Asian trading hours on Thursday, the GBP/USD pair is […]
EUR/USD remains stable near 1.1700 before Q2 Eurozone GDP and US PPI data
EUR/USD remains steady as it awaits the release of total eurozone production figures for the second quarter. CME’s FedWatch tool indicates a nearly 94% probability of a 25 basis point rate cut in September. U.S. Treasury Secretary Scott Bescent believes that the Fed could implement a 50 basis point rate reduction in September. The EUR/USD […]
EUR/USD rises as Trump challenges Fed’s independence, weak PPI impacts USD
The euro is expected to recover from its three-week low, likely rising above 1.1600. Trump suggests he might dismiss Federal Reserve Chairman Powell, later criticizing him for delaying fee adjustments. The US Producer Price Index (PPI) fell short of projections, reinforcing a dovish sentiment, yet this also supports the euro’s rise. The EUR/USD pair maintained […]