GBP Price Action Setups: GBP/USD, EUR/GBP, GBP/AUD
GBP is vulnerable ahead of tomorrow's BoE meeting following a week of soft data. Will the BoE outdo the Fed with rate cut expectations?
GBP is vulnerable ahead of tomorrow's BoE meeting following a week of soft data. Will the BoE outdo the Fed with rate cut expectations?
The Fed held interest rates unchanged for the third straight meeting and signaled that it may deliver 75 basis points of easing in 2024, a dovish outcome for U.S. yields and the dollar.
Oil prices shook off the COP28 deal to phase out fossil fuels as OPEC+ doubles down on its demand forecasts for 2024. Will the IEA report due tomorrow concur with the cartel?
EUR prices clawed back lost gains after US PPI data missed estimates thus adding to the dovish narrative as the FOMC announcement draws near.
The Federal Reserve Bank will announce its last policy decision of the year later today, accompanied by their updated quarterly forecasts. Will these be enough to stop gold falling further?
Outlook on FTSE 100, DAX 40 and Russell 2000 ahead this evening’s Fed rate announcement.
AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data.
UK GDP disappoints ahead of major central bank meetings. The pound is understandably weaker heading into the FOMC and BoE meetings
The Nasdaq 100 consolidates higher and reaches its best level since early 2022 after pushing past key resistance levels, but the Fed may end its upward momentum if it issues a hawkish policy outlook.
Gold’s attempt to break back above the $2000 mark was met with selling pressure today as US CPI data provided a somewhat mixed bag. Will the FOMC assist Gold bulls or are we in for further downside?