GBP/USD Forex Signal: Sterling Retreat Has More Downside Ahead
The sterling has been under pressure this week as traders reflected on the hawkish statement by Jerome Powell who warned that the bank could still hike interest rates in the coming months. He warned that inflation was stubbornly high and that it needs more evidence that it is falling.
Forex Today: Gold hits all-time high as geopolitical tensions escalate
Gold price hit a new record high near $2,150 at the weekly opening as markets reacted to escalating geopolitical tensions in the Middle East. October Factory Orders will be the only data featured in the US economic docket on Monday. Investors will continue to pay close attention to headlines surrounding the Israel-Hamas conflict and comments from central bankers.
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India’s forex reserves rise for third week, hit over four-month high
India's foreign exchange reserves (INFXR=ECI) rose for a third straight week and stood at a more than four-month high of $604.04 billion as of Dec. 1, data from the Reserve Bank of India (RBI) showed on Friday.
Forex Today: Eyes on BoC rate decision and US employment data
In the meantime, the credit rating agency Moody's cut its outlook on China’s sovereign credit rating to 'negative' from 'stable' on Tuesday, citing the increasing risks to growth and a property sector crisis in the world’s second-largest economy, per Reuters.
Forex Today: Dollar momentum continues despite US data
The highlight of the Asian session will be the release of China's trade data for November. Australia will report Building Permits and trade data for October. Later in the day, the weekly Jobless Claims figures from the US will gather attention, along with comments from Bank of Canada Governor Tiff Macklem after Wednesday’s monetary policy decision.
NBP issues foreign exchange rates
The Treasury management division of the National Bank of Pakistan (NBP) on Friday issued the following exchange rates.
Forex Today: Weak JOLTS Data Boosts Fed Rate Cut Hopes
Yesterday’s release of US JOLTS Job Openings data came in lower than expected, showing only 8.73 million jobs when 9.31 million was expected. This boosted stocks a little as it increases the probability of Fed rate cuts, but seemingly not by much as the greenback was little affected by the data.
Forex Today: US Nonfarm Payrolls to ramp up volatility ahead of the weekend
The US Dollar (USD) weakened against its major rivals as risk flows returned to markets on Thursday, with the USD Index snapping a three-day winning streak. November jobs report from the US, which will include Nonfarm Payroll (NFP) and wage inflation data, will be watched closely by market participants ahead of the weekend. The US economic docket will also feature the University of Michigan preliminary Consumer Sentiment Survey for December.
Forex Today: US Nonfarm Payrolls to ramp up volatility ahead of the weekend
The US Dollar (USD) weakened against its major rivals as risk flows returned to markets on Thursday, with the USD Index snapping a three-day winning streak. November jobs report from the US, which will include Nonfarm Payroll (NFP) and wage inflation data, will be watched closely by market participants ahead of the weekend. The US economic docket will also feature the University of Michigan preliminary Consumer Sentiment Survey for December.