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Market News

View the daily news commentary to obtain insight on the financial markets.

Pound Sterling rises despite uncertainty over BoE rate-cut timing

February 26, 2024, 1:08:23 PM UTC
The Pound Sterling (GBP) is stuck in a tight range in Monday’s European session as investors need more insights on the Bank of England’s (BoE) interest rates for fresh action.
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EUR/USD needs to overcome last week’s spike high at 1.0890 to extend the uptrend – Scotiabank

February 26, 2024, 12:57:00 PM UTC
EUR/USD trades firmer as short-term uptrend persists. Economists at Scotiabank analyze the pair’s outlook.
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GBP/USD will have to push on through 1.2710 to show some additional technical momentum – Scotiabank

February 26, 2024, 12:34:00 PM UTC
GBP/USD is marginally firmer on the session. Economists at Scotiabank analyze the pair’s outlook.
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US Dollar weakens further at start of data-driven week

February 26, 2024, 12:30:00 PM UTC
The US Dollar (USD) is inching lower on Monday, extending Friday’s declines. Two main drivers for the Greenback to keep in mind this Monday: First, the landslide victory for former US President Donald Trump over Nikki Haley’s home state
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WTI Oil retreats to $76 with sluggish volatility ahead

February 26, 2024, 12:21:02 PM UTC
Oil prices are on the backfoot and down nearly 1% in Monday’s trading with traders bracing for an eventful week when it comes to US data. On the Oil front markets will be on the lookout for any comments from key people in the Oil and broader
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EUR/USD to move towards 1.0500 on a three-month – Rabobank

February 26, 2024, 12:16:11 PM UTC
Economists at Rabobank expect the US Dollar (USD) to remain resilient over the next weeks and forecast EUR/USD at 1.0500 in three months.
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Stock Market Today: US futures little changed ahead of the opening bell on Monday

February 26, 2024, 11:57:48 AM UTC
Nasdaq futures trade flat at 17,994.50, Dow Jones futures are down 0.1% at 39,145.00 and S&P futures are virtually unchanged at 5,099.50 ahead of the opening bell on Monday.
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AUD/USD finds interim support near 0.6550 as US Dollar comes under pressure

February 26, 2024, 11:50:57 AM UTC
The AUD/USD discovers support near 0.6550 in the European session on Monday.
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USD/RUB will keep rising as Russia's current account is likely to narrow down – Commerzbank

February 26, 2024, 11:47:49 AM UTC
The observed exchange rates of the Russian Rouble (RUB) against the US Dollar (USD) and Euro (EUR) are artificial and managed.
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Gold price trades back and forth as US core PCE data looms large

February 26, 2024, 11:29:48 AM UTC
Gold price (XAU/USD) consolidates in a strict range in Monday’s European session as investors are sidelined ahead of crucial economic releases this week.
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EUR/USD climbs to fresh daily top around, mid-1.0800s amid modest USD selling

February 26, 2024, 11:11:42 AM UTC
The EUR/USD pair reverses an intraday dip to the 1.0800 neighbourhood and touches a fresh daily peak during the early European session on Monday.
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WTI: Direction of the next major move unclear given elevated uncertainty – BMO

February 26, 2024, 11:10:46 AM UTC
West Texas Intermediate (WTI) continues to trade in a relatively tight band of $75 to $80 per barrel.
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GBP/JPY aims to stabilize above 191.00 ahead of Japan’s National CPI

February 26, 2024, 10:58:27 AM UTC
The GBP/JPY pair oscillates near a historic high of 191.00 in the London session on Monday.
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AUD/USD languishes near daily low, around mid-0.6500s despite softer USD

February 26, 2024, 10:49:46 AM UTC
The AUD/USD pair attracts some sellers on Monday following the recent repeated failures to find acceptance above the 100-day Simple Moving Average (SMA) and remains depressed through the first half of the European session.
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Bank of Japan: A rate hike would certainly fuel some JPY buying – MUFG

February 26, 2024, 10:46:20 AM UTC
Is the Bank of Japan (BoJ) setting the market up for a March hike? Economists at MUFG Bank analyze Japanese Yen’s (JPY) outlook after the JPY weakened by 0.3% last week against the US Dollar (USD).
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BoE’s interest rate cuts in the middle of the year will put pressure on the Pound – Commerzbank

February 26, 2024, 10:17:17 AM UTC
The Pound Sterling (GBP) has performed surprisingly well over the past few weeks.
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Stock Market Today: Nifty and Sensex settle lower on Monday

February 26, 2024, 10:16:02 AM UTC
The Sensex 30 and Nifty 50, India’s key benchmark indices, are set to open the week on Monday on a cautious footing, taking the lead from mixed trading in Asian stock markets.
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EUR/USD may struggle to find much sense of direction and keep hovering around the 1.0800 gravity line – ING

February 26, 2024, 9:51:00 AM UTC
Eurozone inflation numbers will be in focus this week. Economists at ING analyze EUR/USD outlook for the next few days.
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USD/CAD sticks to intraday gains around 1.3525 amid weaker Crude Oil prices

February 26, 2024, 9:37:19 AM UTC
The USD/CAD pair is seen building on last week's rebound from the 1.3440 support zone and gaining some positive traction for the second successive day on Monday.
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Gold Price Forecast: Haven buying remains supportive for XAU/USD – ANZ

February 26, 2024, 9:24:00 AM UTC
Last week, Gold (XAU/USD) recorded minor gains and ended above the $2,030 mark.
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USD/CAD Price Analysis: Improves to near 1.3520 following February’s high

February 26, 2024, 9:02:54 AM UTC
USD/CAD moves higher for the second consecutive day, inching higher to near 1.3520 during the European session on Monday.
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Gold price consolidates around 50-day SMA, downside seems cushioned amid sliding US bond yields

February 26, 2024, 9:02:11 AM UTC
Gold price (XAU/USD) settled in the green for the first time in the previous three weeks in the wake of persistent geopolitical tensions and the recent US Dollar (USD) corrective decline.
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USD/JPY could surge beyond 150.90 February high on easing price pressures in Japan – ING

February 26, 2024, 8:58:05 AM UTC
Japan’s inflation data for January will be released on Tuesday.
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Silver Price Analysis: XAG/USD trades with modest losses below $23.00, remains vulnerable

February 26, 2024, 8:45:14 AM UTC
Silver (XAG/USD) meets with a fresh supply on the first day of a new week and erodes a major part of Friday's recovery gains from over a one-week low.
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Dollar to have a good week on the back of strong PCE figures – ING

February 26, 2024, 8:29:08 AM UTC
Economists at ING expect an above-consensus 0.4% Core PCE read on Thursday, which should support the Dollar this week.
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NZD/USD slumps from 0.6200 as focus shifts to RBNZ policy

February 26, 2024, 8:24:10 AM UTC
The NZD/USD falls sharply to 0.6167 from the round-level resistance of 0.6200 in Monday’s European session.
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USD/MXN retreats to near 17.10 as US Dollar declines on lower yields

February 26, 2024, 8:17:33 AM UTC
The USD/MXN pair experiences a decline after two consecutive days of gains, trading around 17.10 during the early European session on Monday.
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GBP/USD could test the 14 February low of 1.2530 – ING

February 26, 2024, 7:55:48 AM UTC
Last week, the Pound Sterling (GBP) was one the top performers in the G10 space alongside the New Zealand Dollar (NZD) and the Swedish Krona (SEK).
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If the ECB aims to bring inflation down to 2%, it has not raised interest rates too much – Natixis

February 26, 2024, 7:26:00 AM UTC
Many analysts are putting forward the argument that the ECB has raised interest rates too much.
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EUR/JPY holds below the 163.00 mark amid intervention fears

February 26, 2024, 7:14:06 AM UTC
The EUR/JPY cross holds below the 163.00 mark during the early European session on Monday.
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