GBP/JPY Price Forecast: Flatlines around 218.50 with long-term highs at hand
GBP/JPY Price Forecast: Flatlines around 218.50 with long-term highs at hand
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GBP/JPY Price Forecast: Flatlines around 218.50 with long-term highs at hand
Forex
The Pound to New Zealand Dollar (GBP/NZD) exchange rate fell to a three-week low last week as strong domestic data and rising Reserve Bank of New Zealand rate hike expectations helped the ‘Kiwi' outperform Sterling. At the time of writing, GBP/NZD was trading at NZ$2.3052, down around 0.8% on the week.
Investors will be watching today's Cabinet announcement and Burnham's first major speech for clues on the new government's fiscal priorities.
Silver briefly slipped below the key $55 level on Friday but quickly regained its footing as the new week began, despite Brent crude gapping above $90 following another escalation in the US-Iran conflict. The lack of additional selling is notable.
Silver price today: Silver rises, according to FXStreet data
USD/JPY Price Forecast: Forms Symmetrical Triangle near multi-decade highs
The Pound to Australian Dollar (GBP/AUD) exchange rate traded in a wide range last week, briefly falling to a two-week low before recovering to test fresh multi-month highs amid UK Chancellor speculation. At the time of writing, GBP/AUD was trading at AU$1.9262, virtually unchanged on the week after retreating from a high of.
XAGUSD (The Silver) finds a bounce XAGUSD (The Silver) halts the ongoing bearish rally as the recent pullback is hampering efforts of a further drop. The precious metal slightly licks it wounds by testing the support of 55.00.
Strong U.S. data and rising inflation risks support the dollar as traders reassess Fed rate cuts. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
NZD/USD Price Forecast: Resumes the bullish trend and tests monthly highs around 0.5860
The Pound to Canadian Dollar (GBP/CAD) exchange rate traded lower last week as UK political developments drove volatility while rising oil prices supported the commodity-linked Canadian Dollar. At the time of writing, GBP/CAD was trading at CA$1.8861, down around 0.5% on the week.
Euro holds early recovery against US Dollar, focus is on ECB policy
Silver Price Forecast: XAG/USD bulls await breakout through trend-line hurdle near $57.25
Euro: Hawkish ECB tone could limit downside against US Dollar – Commerzbank
Summary:EUR/USD traded near 1.1440 after recovering from recent lows, supported by expectations that the European Central Bank could raise interest rates again in September. The euro's advance remains limited as escalating US-Iran tensions and oil prices above $90 increase safe-haven demand for the US dollar.
The Pound to Dollar (GBP/USD) exchange rate climbed to a two-month high last week as softer-than-expected US inflation weakened the US Dollar while speculation over the UK's next Chancellor boosted Sterling. At the time of writing, GBP/USD was trading around $1.3443, up approximately 0.3% on the week after slipping back from a high of.
Euro: Upside bias holds above key support against US Dollar – UOB
The Pound to Euro (GBP/EUR) exchange rate climbed to a 13-month high last week as speculation over the UK's next Chancellor boosted Sterling, although the pairing struggled to hold its strongest levels. At the time of writing, GBP/EUR was trading at €1.1761, up around 0.2% on the week.
USD/CAD Price Forecast: Tests 1.4000 after breaking below 50-day EMA
EUR/USD Price Forecast: Edges higher to near 1.1450 but remains capped below 100-day SMA