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Pound’s Six-Day Rally Screeches to Halt on Resurgence of US Dollar
The pound sank more than 2% as traders piled back into the dollar on bets that the Federal Reserve will stick to hiking interest rates. Sterling fell as low as $1.1227, snapping six days of gains, its best streak since April 2021. The move was led by the greenback, as markets faded the prospect of the Fed pivoting to a more dovish stance following better-than-estimated US data and policy maker comments. The pound remains significantly above its all-time low reached on Sept. 26, when it crashed due to concerns over the new UK government’s fiscal plans. Prime Minister Liz Truss has since rowed back on a proposal to ... (full story)
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From sprott.com|Oct 5, 2022Gold fell $50.43 (or -2.95%) to close at $1,660.61 for the month. After several tests over the past few years, gold finally fell below the $1,700 support level as the U.S. dollar ...
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From zerohedge.com|Oct 5, 2022|1 commentWhat do credit traders know that equity traders are ignoring? While equity prices had risen for the last two days, dragged higher by the market's melt-up, Credit Suisse credit ...
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From zerohedge.com|Oct 5, 2022|1 commentAhead of Friday's big number, and following last month's dismal print (under its new model regime) which dramatically under-predicted the payrolls print in August, ADP was ...
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From financemagnates.com|Oct 5, 2022The volume of forex futures and options traded on Chicago Mercantile Exchange’s (CME) CME Globex hit an all-time-high monthly volume in September. Year-over-year, the average ...
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- Posted: Oct 5, 2022 12:52pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 970
