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GBP/USD hovers around the 1.3400 mark following the Bank of England’s decision to keep interest rates steady at 4.25%, as widely expected. The hold reflects the central bank’s cautious approach amid slowing economic data and persistent global uncertainties. Meanwhile, during the Asian session, the pair dropped sharply, hitting a one-month low of 1.3382, equivalent...

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The rise in the US Dollar Index has led to a rebound against several currencies such as the Canadian dollar, the euro, and the Japanese yen, shifting the medium-term bearish trend into a bullish one. One of the pairs that could benefit from the USD’s strength is the USD/CAD. After the USD/CAD pair recorded a new high by breaking the last lower high, the recent...

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In the wake of the escalating geopolitical tension in the Middle East, markets have been reacting sharply. Focusing on USDJPY pair, as the conflict shows signs of intensifying, investors turned to traditional safe-haven assets notably the Japanese yen amid fears of a broader regional spillover. Beyond geopolitical tension in the Middle East, both economies are set...

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The EUR/JPY pair is trading in a general uptrend, forming higher highs and higher lows, which maintains a bullish momentum. What’s the pair’s next expected move? As long as the 164.556 level is not broken with a 4-hour candle closing below it, any pullback remains corrective. The pair is likely to rebound from the 164.823 level to target the 165.510 level.

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Earlier today, the UK’s Claimant Count Change (jobless claim) i.e. the number of people in the UK claiming unemployment related benefits for the month of May was released with a whopping 33.1k against 9.5k projection and average earnings index plus bonus witnessed a decline to 5.3% against 5.5% forecast. Today’s disappointing UK labor market report prompted a...

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With just minutes to go before the European Central Bank (ECB) announces its highly anticipated rate decision, market participants are maintaining a cautious stance. The EUR/USD pair remains relatively calm, reflecting a wait-and-see approach ahead of the official release. According to broad market consensus, the ECB is expected to implement a 25-basis point rate...