May 25, 2021 20:16 GMTFXStreet News
Cable is on the verge of a significant downside move should counter-trendline hold.
Central banks and economic performances in the spotlight.
GBP/USD is currently trading at 1.4158 trading between a low of 1.4115 and a high of 1.4211, trading flat on the day following a recent recovery from the lows of the session as the greenback takes a trip to the downside.
The US dollar hit new lows against major currencies while Federal Reserve officials continue with a mantra of their dovish monetary policy stance which has eased inflation concerns.
Central bank speakers in focus
This week, the messages have been consistent with what Fed Chairman Jerome Powell has said repeatedly over recent weeks.
Stocks Rally Worldwide As Inflation Fears Subside With Fed Comments And China Crackdowns forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
HSI -0.2%, HSCE -0.6%, CSI300 +0.4% FTSE China A50 +0.6%
May 24 (Reuters) - Hong Kong stocks closed lower on Monday, as materials firms slid after China stepped up intervention in the commodities market, even as cryptocurrency-related stocks dived after Beijing’s latest crackdown. The Hang Seng index fell 0.2%, to 28,412.26, while the China Enterprises Index lost 0.6%, to 10,641.40 points. Leading the declines, the Hang Seng materials index dropped 2%, with Chalco and Zijin Mining Group Co Ltd down 5.1% and 3.3%, respectively. China’s market regulators warned industrial metal companies to maintain “normal market order” during talks on the significant gains in metals prices this year, the National Development and Reform Commission (NDRC) said on Monday.