GBP/USD
The Currency Chronicles: Unraveling the British Pound's Resilience Against the US Dollar
The British Pound Sterling (GBP) and the United States Dollar (USD) stand as iconic currencies with intertwined histories spanning centuries of economic and geopolitical developments. In this article, we explore the origins and evolution of these currencies, delving into their historical contexts and key milestones that shaped their prominence in the global financial system. Furthermore, we examine the concepts of nominal and relative strength in currency, understanding how these measurements play pivotal roles in assessing a currency's purchasing power and its impact on trade dynamics.
Fed Chair Powell's Testimony Spurs US Stock Decline, BoE Expected to Hike Rates Amid Gloomy Outlook | Daily Market Analysis
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Federal Reserve Cautious on Inflation while UK GDP Disappoints | Daily Market Analysis
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The Best Currency Pairs to Trade in 2023?
Choosing which assets to use in the forex market is not the easiest task, especially for beginners, because even the most popular currency pairs are not always amenable to analysis. Nevertheless, using the most liquid pairs as the base and quoted pairs is the most reasonable option for working on the exchange. Let us find out what aspects one should pay attention to while choosing the best assets to trade, as well as learn the most tradable currency pairs in forex trading.
Markets Digest Ongoing Series of Rate Hikes | Daily Market Analysis
Key events: UK – Retail Sales (MoM) (Feb) UK – Composite PMI UK – Manufacturing PMI UK – Services PMI Eurozone – EU Leaders Summit USA – Core Durable Goods Orders (MoM) (Feb) Canada – Core Retail Sales (MoM) (Jan) The Bank of England raised its rate by 25 points to 4.25%, just in line with market expectations. For the third meeting in a row, two members voted to maintain rates, but they were opposed by seven more hawkish members.
Support and Resistance Levels Explained
Support and resistance levels are the basic concepts of technical analysis. Strategies based on technical analysis are built on psychological and mathematical patterns of previous periods. One such pattern is resistance and support levels, which determine the marks of the most probable change in price direction or confirmation of trend continuation. They can be used both by new traders and experienced investors. In this article, we will learn what support and resistance lines are, how to draw them correctly, as well as how to apply this knowledge to real trading.
In Recession and Uncertainty: The Bank of England Raises Interest Rate to a 30-Year High | Daily Market Analysis
Key events: UK – Construction PMI (Oct) Eurozone – ECB President Lagarde Speaks USA – Nonfarm Payrolls (Oct) USA – Unemployment Rate (Oct) Canada – Employment Change (Oct) Canada – Ivey PMI (Oct) Bank of England (BoE) aggressively raised its policy rate by 75 basis points to 3.00% in yesterday's monetary policy announcement.
The Truss Fiasco Could Be the Herald of a Global Crisis | Daily Market Analysis
Key events: Eurozone - CPI (YoY) (Sep) USA - Building Permits (Sep) Canada - Core CPI (MoM) (Sep) USA - Crude Oil Inventories If mistakes by central banks lead to high interest rates and recession, real chaos is created by the government. This is the case in Britain when it comes to the tug-of-war between fiscal and monetary policy.
How Markets React to the Bank of England Bond-Buying Deadline? | Daily Market Analysis
Key events: US - Core CPI (MoM) (Sep) US - CPI (YoY) (Sep) US - CPI (MoM) (Sep) US - Initial Jobless Claims US - Crude Oil Inventories The dollar weakened yesterday amid uncertainty over the Bank of England's willingness to continue supporting the country's bond market, which has become a key pressure point for the global financial sector.
All Eyes On Forex | Daily Market Analysis
Key events: UK - GDP (MoM) UK - Manufacturing Production (MoM) (Jul) UK - Monthly GDP 3M/3M Change