GBP/USD Rises on Robust Labor Data – Challenges Ahead for the BoE

Key Highlights USD/JPY climbed to a new multi-year high at 161.95 before it corrected lower. It traded below a key bullish trend line with support at 161.50 on the 4-hour chart. EUR/USD extended gains above the 1.0785 resistance zone. Oil prices might soon attempt to clear the $85.00 resistance. USD/JPY Technical Analysis The US Dollar […]

The Japanese yen has dropped below the 161 line on Monday. The yen is trading at 161.39 early in the North American session, down 0.35% on the day. Japan’s GDP revised sharply lower Japan revised its first-quarter GDP report to -2.9%, y/y, sharply lower than the initial reading of -1.8%. On a quarterly basis, GDP […]

Gold prices surged to 2,570 USD per troy ounce on Friday. New record highs became possible amid the weakening position of the US dollar and declining yields on US government bonds. Gold prices began to rise after the release of another package of US macroeconomic statistics. The weekly initial jobless claims increased compared to the […]