UK Inflation Unchanged at 3.8%, Pound Shrugs

Market Picture The crypto market has risen by more than 3% in the last 24 hours to reach $3.69 trillion, this time thanks to the euphoria surrounding Bitcoin. The price of the first cryptocurrency surpassed $100,000, a psychologically important milestone. The price then stabilised at $102.4K. It took almost two weeks from approaching this level […]

Key Highlights GBP/USD started a fresh increase above the 1.2800 resistance. A short-term rising channel is forming with support at 1.2930 on the 4-hour chart. EUR/USD is consolidating gains above the 1.0820 resistance zone. Gold surged to a record high and tested the $3,035 zone. GBP/USD Technical Analysis The British Pound remained strong above 1.2800 […]

Fed Chair Powell’s speech in the Jackson Hole symposium has cemented the expectations of a Fed funds rate cut in the upcoming September FOMC meeting. The uncertainty element is the magnitude and the pace of the upcoming Fed funds rate cut cycle. Upcoming key US growth data such as ISM manufacturing, and services PMIs (including […]