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Weak Sterling Awaits UK GDP, Gold Poised to Reach Record High

Weak Sterling Awaits UK GDP, Gold Poised to Reach Record High
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Canadian Dollar Rallies on Strong Job Data, Sterling Support by GDP

Canadian Dollar Rallies on Strong Job Data, Sterling Support by GDP
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Hong kongUnited statesUnited kingdomEco watchersCanadian dollarChina shanghaiSingapore strait timesManufacturing indexEconomist doug steelWatchers surveyTrade balanceConsumer sentiment index may

Dollar Retains Weekly Lead But Started Losing Momentum

Dollar has maintained its position as the strongest performer for the week, despite the noticeable waning of its upside momentum over the past two days. Today, markets anticipates the release of several US economic indicators, including PCE inflation and durable goods orders. However, the primary driver is likely to be any updates on the debt ceiling negotiations.

New zealandUnited kingdomUnited statesBen dorberCorporate service price indexyy aprNew zealand dollarsGovernor karen silkCyclone gabrielleGoods ordersTrade balanceConsumer sentiment index may

Dollar Buying Emerges Again after Inflation Data, Yen Extending Fall

While Dollar engaged in retreat for most of the day, some buying appears to emerge again in early US session. A surprising rise in both headline and core PCE inflation is considered to be a key factor driving this resurgence. While it's unsure whether that could result in sustainable rally, the sentiment should stabilize the greenback at least.

New zealandUnited statesUnited kingdomHong kongBen dorberCorporate service price indexyy aprWhile dollarAustralian dollarsSwiss francChina shanghaiSingapore strait timesEconomist philip laneGovernor karen silkCyclone gabrielleGoods ordersTrade balance

Sterling Hit by BoE Bailey; Aussie Suffers Amid Copper Price Decline

In the wake of comments from BoE Governor Andrew Bailey suggesting a potential pause in rate hikes, Sterling has taken a sharp downward turn overnight. Despite the expected 25bps hike yesterday, Bailey's interview with Bloomberg TV sent ripples through the market, causing a broad sell-off of the Pound. With UK GDP data on the horizon, Sterling's performance remains under scrutiny. However, unless GDP figures significantly exceed expectations, it's more probable than not that Sterling will conclude the week as one of the weakest performers. Meanwhile, Australian Dollar the worst performer for the week so far, taking a hit from the drastic fall in Copper prices and growing concerns over China's economy. Euro is trailing closely behind Sterling as the third weakest currency. New Zealand Dollar is also losing ground following RBNZ's inflation expectations survey. As risk aversion grows in the commodity sector, Yen, Dollar, and Swiss Franc are gaining traction.

Hong kongNew zealandUnited kingdomUnited statesAndrew baileyExpectations businessBoe governor andrew baileyWith united kingdomAustralian dollarZealand dollarSwiss francChina shanghaiSingapore strait timesPresident luis de guindosManufacturing indexOfficial cash