EUR/GBP edges higher as German Retail Sales and Inflation data provide a mixed picture for the ECB
The Euro (EUR) is firming against the British Pound (GBP) on Friday, with EUR/GBP holding above the 100-day Simple Moving Average (SMA) near 0.8415.
Gold Ends the Week Lower as Risk Appetite Returns
The price of gold fell below 3,300 USD per troy ounce on Friday, closing the week with a loss of approximately 1%. Key drivers behind gold’s movement Investors remain cautious ahead of today’s US PCE inflation report, which could offer fresh clues on potential Federal Reserve rate adjustments. On Thursday, gold prices gained nearly 1% after an appeals court […]
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BoE’s Taylor: Global headwinds justify lower monetary policy path
BoE MPC member Alan Taylor reinforced his dovish position in an interview with the Financial Times, highlighting growing downside risks to the UK economy from global developments. Taylor, who alongside Swati Dhingra voted for a larger 50bps rate cut in May, argued that monetary policy should be on a “lower policy path” given the accumulating […]
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USD/JPY Daily Outlook
Daily Pivots: (S1) 143.34; (P) 144.81; (R1) 145.66; More… Intraday bias in USD/JPY remains neutral for the moment. On the upside, above 146.27 will target 148.64 resistance first. Firm break there will resume the rebound from 139.87. Nevertheless, break of 142.10 will bring deeper fall back to 139.87 low. In the bigger picture, price actions […]
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U.S. foreign tax bill sends jitters across Wall Street
Trump’s “One Big Beautiful Bill Act,” if enshrined into law, could transform the current trade conflict into a capital war, investment banks say.
Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products
A former Microsoft executive is leading a new team at Amazon within the company’s devices unit.
Baker Hughes oil rig count -4 to 461
- Oil rig coun -4 to 461
- Nat Gas +1 to 99
- Total rigs -3 to 563.
The price of crude oil is down around $0.50 at $60.40.
- For the week, the price is down -2.07%.
- For the month, the price is up +3.85% after the price closed last month at $58.17.
- For the year the price is down -15.89% from the 2024 closing level of $71.81
This article was written by Greg Michalowski at www.forexlive.com.
Musk-Altman AI rivalry is complicating Trump’s dealmaking in Middle East
Elon Musk tried to derail a major AI infrastructure deal in the Middle East, a source confirmed to CNBC
US: Consumer Spending Cools in April Amid Elevated Uncertainty
Consumer spending decelerated in April despite a modest acceleration in income growth. Personal income advanced by 0.8% month-over-month (m/m), well ahead of consensus expectations for a 0.3% m/m gain. This strength, however, did not filter through to spending, which cooled to a gain of 0.2% on the month. As a result, the personal savings rate […]
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EUR/USD Mid-Day Outlook
Daily Pivots: (S1) 1.1258; (P) 1.1322; (R1) 1.1432; More… Intraday bias in EUR/USD remains neutral at this point. On the upside, break of 1.1417 resistance will revive the case that correction from 1.1572 has completed at 1.1064. Retest of 1.1572 should then be seen next. Nevertheless, break of 1.1209 will extend the corrective pattern and […]
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