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Tag: recession

GBP/USD fails to make a significant recovery and remains near two-and-a-half year lows

GBP/USD fails to make a significant recovery and remains near two-and-a-half year lows GBP/USD fails to make a significant recovery and remains near two-and-a-half year lows

GBP/USD attracts some intraday buying on Monday, but lacks follow-through. A modest dollar pullback from two-decade highs offers some support for the pair. The fundamental/technical backdrop still appears to be tilting in favor of the bearish traders. The pair GBP/USD it has bounced slightly from its lowest level since March 2020, around the 1.1445 area […]

GBP/USD remains defensive below 1.1500 ahead of UK PM

GBP/USD remains defensive below 1.1500 ahead of UK PM GBP/USD remains defensive below 1.1500 ahead of UK PM

GBP/USD falls to its lowest level since March 2020 and is under pressure from a combination of factors. The gloomy economic outlook for the UK weighs on the British pound amid broad dollar strength. Traders await the UK Prime Minister’s announcement amid relatively tight liquidity conditions. The pair GBP/USD start the new week with a […]

USD/CAD approaches 1.3100, downside potential seems limited

USD/CAD approaches 1.3100, downside potential seems limited USD/CAD approaches 1.3100, downside potential seems limited

USD/CAD pulls back further from a multi-week high and is under pressure from a combination of factors. The rally in crude prices underpins the loonie and sparks some selling amid a weaker dollar. USD intraday selling accelerates after the release of monthly US employment data, which delivered mixed results. Aggressive Fed expectations and recession fears […]

GBP/USD remains in a range near 1.1550 after NFP, looks vulnerable

GBP/USD remains in a range near 1.1550 after NFP, looks vulnerable GBP/USD remains in a range near 1.1550 after NFP, looks vulnerable

GBP/USD extends its range-bound price action on the release of monthly US employment data. The dollar fell in reaction to an unexpected rise in the US unemployment rate and softer wage growth. Markets continue to expect a 75 basis point Fed rate hike in September, limiting the USD’s decline. The gloomy outlook for the UK […]

AUD/USD hits fresh daily high after NFP, but loses continuity beyond 0.6850

AUD/USD hits fresh daily high after NFP, but loses continuity beyond 0.6850 AUD/USD hits fresh daily high after NFP, but loses continuity beyond 0.6850

AUD/USD adds to intraday recovery gains and refreshes daily high in reaction to US mixed employment report. The US economy added 312,000 jobs in August and the unemployment rate unexpectedly rose to 3.7%. Aggressive expectations from the Fed should help limit any significant decline in the USD and cap gains for the pair. The pair […]

AUD/USD remains bearish near multi-week lows

AUD/USD remains bearish near multi-week lows AUD/USD remains bearish near multi-week lows

AUD/USD remains depressed near a multi-week low and is under pressure from a combination of factors. Aggressive expectations from the Fed and high yields on US bonds push the dollar back close to two-decade highs. The risk environment reinforces the safe-haven dollar and weighs on the risk-sensitive Aussie. The pair AUD/USD it struggles to take […]

Fitch: Recession in the Eurozone from 2022 with the natural gas tap closed

Fitch: Recession in the Eurozone from 2022 with the natural gas tap closed Fitch: Recession in the Eurozone from 2022 with the natural gas tap closed

Recession in the eurozone has now become the most likely possibility against the backdrop of the intensifying natural gas crisis, Fitch Ratings estimates in its new report. In particular, as the rating agency reports, the complete cessation of Russian natural gas flows to the EU increasingly looks like the logical assumption for the elaboration of […]

GBP/USD struggles to preserve modest intraday gains and pulls back towards 1.1700

GBP/USD struggles to preserve modest intraday gains and pulls back towards 1.1700 GBP/USD struggles to preserve modest intraday gains and pulls back towards 1.1700

GBP/USD trims modest intraday gains and pulls back to the lower end of its daily range. A combination of factors is helping the dollar trim intraday losses and putting downward pressure. A gloomy economic outlook in the UK supports the prospects for a further short-term depreciation move. The pair GBP/USD struggles to take advantage of […]

USD/CAD recovers initial lost ground and returns to 1.3000 amid sharp drop in oil

USD/CAD recovers initial lost ground and returns to 1.3000 amid sharp drop in oil USD/CAD recovers initial lost ground and returns to 1.3000 amid sharp drop in oil

USD/CAD reverses an intraday decline and is supported by a combination of factors. A sharp pullback in oil prices undermines the loonie and acts as a tailwind. A modest bounce in the dollar from the daily low contributes to the intraday rise. The pullback in US bond yields and the risk-on mood could weigh on […]

Goldman Sachs: Impressive performances in Greece, Portugal and Spain limit recession in Eurozone that has already begun

Goldman Sachs: Impressive performances in Greece, Portugal and Spain limit recession in Eurozone that has already begun Goldman Sachs: Impressive performances in Greece, Portugal and Spain limit recession in Eurozone that has already begun

Her Eleftherias Kourtalis The ongoing energy crisis has further weakened growth prospects across Europe, with Goldman Sachs now expecting a recession in the Eurozone, which it estimates has already started in the current third quarter and will continue into the fourth quarter. However, the North-South development gap is huge, as he emphasizes, with resilience and […]