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GBP/USD News and Analysis GBP/USD oscillates around key level as uptrend takes shape Sterling holds narrow advantage over the US in terms of expected rate cuts Fed speakers and UK Autumn Statement next up on the calendar The analysis in this article makes use of chart patterns and key support and resistance levels. For more
First of all a reminder: US and Canadian cash markets will be closed today because of the Labour Day celebration, obviously resulting in diminished flows this afternoon. Going back in chronological order, APAC is led by the excellent performance of the China50 and especially Hong Kong where a surge on real estate stocks helped the
The markets were quiet on the last day of August, awaiting the key jobs report today. Treasuries and the US Dollar were firmer, but off their best levels, while Wall Street closed mixed. Ongoing expectations that the FOMC can pause, or is done with rate hikes continued to support along with the lingering impact from
Asian stock markets traded mixed overnight, with mainland China bourses underperforming. Chinese manufacturing contracted in August for a 5th straight month, while Chinese property stocks fell after Country Garden, once the country’s largest developer by sales, reported record losses and China Vanke cancelled a share placement. China’s property sector is dealing with a renewed liquidity
Weaker than expected consumer confidence and JOLTS numbers helped diminish Fed rate hike risks which in turn underpinned strong gains in Treasuries, Wall Street & the Asian stock market today as the markets clawed back some of the hefty losses in August also on speculation that the Fed is nearing the end of the tightening
Treasuries and Wall Street rallied to kick off the last week of the month for what’s been a pretty bearish August. The same stands so far today. Rate hike fears amid a “higher for longer” policy stance, supply concerns, worries over spillover from slowing growth from China, mixed earnings, and fading AI enthusiasm helped knock
China bourses rallied after China announced support for equities markets; Beijing lowered stamp duty on stock traders for the first time the 2008 financial crisis and at the same time pledged to slow the pace of initial public offerings in an effort to boost investor confidence. Fed Chair Powell signalled caution on additional rate hikes.