I anticipated the pair holding above 1.4450, but the recent dip below this level presents a renewed buying opportunity in my view. While this move might seem like a sign of reversal, I believe the US dollar's underlying strength, coupled with the contrasting monetary policies of the Federal Reserve (FED) and the Bank of Canada (BoC), suggest otherwise. ...
Yesterday's UK inflation report revealed a cooler-than-expected CPI print of 1.7%, the lowest since April 2021. This dip was largely fueled by falling transport costs, echoing the recent decline in oil prices (With Brent crude slipping below $70 a barrel from September's highs of $77).
The GBP/USD pair has broken below the key 1.30 support level. This opens the...
Buckle up traders, this week's volatility is coming straight from the US labor market!
We've got a data deluge headed our way:
• JOLTs Job Openings (Wednesday)
• Initial Jobless Claims (Thursday)
• Non-Farm Payrolls (Friday)
Previous NFP numbers hinted at a softening labor market, fueling the debate: Will the Fed go for a 25 or 50 bps cut? Right now, it's...
