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GBP/USD outlook: Currency Pair of the Week - May 20, 2024

Our GBP/USD outlook remains bullish, mainly due to our bearish US dollar forecast. On the GBP side of the equation, the Bank of England is getting closer to cutting interest rates, although the market seems to be looking past this. Domestically, the focus this week is on UK inflation data, which is expected to cool, potentially cementing expectations that the central bank will cut rates in June.

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GBP/USD forecast supported ahead of key US data – Currency Pair of the Week

GBP/USD has been supported by stronger UK GDP ahead of wages data on Tuesday. Meanwhile, the US dollar has been hit by signs of cooling labour markets ahead of key inflation data on Wednesday. GBP/USD technical analysis points higher after breaking a bearish trend.

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GBP/USD forecast: Currency Pair of the Week – May 8, 2024

GBP/USD forecast: All eyes on BoE policy decision, before attention turns to UoM consumer sentiment and inflation expectations data on Friday, before CPI data next week.

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USD/JPY analysis: Currency Pair of the Week - April 22, 2024

US GDP, Core PCE and BoJ policy are among the risk events this week for the USD/JPY currency pair, as the focus turns to sticky inflation and elevated interest rates narrative from Middle East concerns for now. USD/JPY technical analysis point to a potential rally above 155.00.

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GBP/USD outlook: Currency Pair of the Week – April 15, 2024

The GBP/USD could be impacted significantly by UK CPI data this week. For now, markets are calm as Iran tensions have eased, but the situation remains volatile, likely to keep risk appetite low. The GBP/USD outlook is bearish as US dollar is likely to remain supported on any short-term dips.

Forex trading

EUR/USD outlook: Currency Pair of the Week - April 8, 2024

The latest US CPI and ECB policy decision are coming up this week, which could shape the near-term trend for the EUR/USD. The latest Eurozone data on Monday showed German industrial production surprised to the upside and investor sentiment improved more than expected. Meanwhile, attention remains on US dollar, which has been unable to find meaningful support despite a robust jobs report.

Uptrend

EUR/USD, EUR/CHF outlook: Currency Pairs of the Week – March 25, 2024

A couple of Fed speakers and US core PCE price index are among the macro factors traders will be watching this week. The EUR/CHF is a more interesting euro pair to watch, while the EUR/USD technical outlook hinges on the 200-day average.

Forex trading

USD/JPY analysis: BoJ and FOMC Meetings Key Focus in Financial Markets – Currency Pair of the Week

The USD/JPY will face a major test in the week ahead, with both the Bank of Japan and US Federal Reserve set to make monetary policy decisions a day apart. The USD/JPY has managed to recover strongly, rising from around 146.50 to above 149.00 in a few days. The recovery has been driven in part because of a rebound in bond yields a stronger dollar.

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USD/CAD analysis: Currency Pair of the Week – March 4, 2024

The US dollar is steady after Friday’s drop. We have BOC rate decision, Powell testimony and NFP jobs report among the macro highlights for this week.

Currency exchange rate board of multiple currencies

USD/CAD analysis: Currency Pair of the Week – February 19, 2024

The USD/CAD will be among the busier of major currency pairs in what will likely be relatively quieter week, at least in so far as macro data is concerned. Given the closure of US markets for Presidents' Day and the majority of major data releases already published in preceding weeks, the week ahead will present few noteworthy macroeconomic highlights, aside from a select few.

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GBP/USD analysis: Currency pair of the week – February 12, 2024

For FX traders, this week's US CPI and retail sales are among the key data highlights. Pound traders also face busy week with several market moving data to come from the UK. GBP/USD technical analysis points modestly lower.

Currency exchange rate board of multiple currencies

USD/CAD analysis: Currency Pair of the Week – February 5, 2024

NFP, Powell and FOMC all paint a bullish US dollar story. This week's data highlights are ISM services PMI and monthly jobs report from Canada. The USD/CAD technical analysis point to bullish break above 1.35 handle.

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GBP/USD analysis: Currency Pair of the Week – January 29, 2024

With the FOMC and BoE rate decisions to come in mid-week, ahead of the NFP on the last day of week, the GBP/USD is set to be in for a roller-coaster ride. Are we finally going to see a breakout above 1.28 or will it drop to 1.25 handle first?

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EUR/USD outlook: Currency Pair of the Week – January 22, 2024

The EUR/USD was a touch lower in the first half of Monday’s session, with many traders sitting on their hands ahead of the big macro events later in the week. With US GDP and Core PCE on tap from the US, and a rate decision to come from the European Central Bank, the EUR/USD is clearly going to be a bit more volatile this week, making it out currency pair of the week.

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GBP/USD analysis: Currency Pair of the Week – January 15, 2024

Thanks to the Martin Luther King Day holiday, FX markets were quiet-ish on Monday without the participation of US banks. But things should start to pick up from Tuesday onwards. We are going to have some potentially market-moving macro data from around the world to look forward to later this week. Among these macro pointers, we will have some important UK data too, including CPI, wages and retail sales, making the GBP/USD the currency pair of the week.

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AUD/USD outlook: Currency pair of the week – January 8, 2024

The AUD/USD is our featured currency pair this week, as we have important inflation data from the US, Australia and the latter’s largest trading partner, China. The economic calendar is otherwise quieter as we start the first full trading week of the year.

Currency prices

USD/JPY analysis: Currency Pair of the Week - Dec 18, 2023

Will the BoJ deliver a surprise on Tuesday with its rate decision? In the US, core PCE Price Index is among this week’s key data highlights, in final important week of the year. USD/JPY is back above 200-day MA for now but more losses could be on the way.

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GBP/USD outlook: CPI, FOMC, BoE makes Cable Currency Pair of the Week

The GBP/USD has started the new week on the front foot, in what promises to be big next few days. We have several key data releases coming up this week from both sides of the pond, including US CPI on Tuesday, while both the Federal Reserve and Bank of England will be making their respective interest rate decisions later in the week. This makes the GBP/USD our featured currency pair of the week.

Uptrend

EUR/USD outlook: Currency Pair of the Week – Nov 27, 2023

EUR/USD outlook supported by weakening US dollar, which will be put under the spotlight by GDP and core PCE inflation data this week. Weaker Eurozone inflation data could paradoxically lift EUR/USD to 1.10 as technical analysis shows path of least resistance remains to the upside.

Uptrend

Euro to US dollar analysis: EUR/USD outlook in focus - Currency Pair of the Week

The EUR/USD is likely to be among the more active currency pairs this week, which I am expecting to potentially rise to 1.10 handle amid improved risk sentiment and recent falls in US yields and dollar. Although the economic situation in the eurozone remains far from convincing, markets may have gotten ahead of itself with regards to ECB rate cuts being priced in as early as April.

Currency exchange rate board of multiple currencies

GBP/USD analysis in focus ahead of key data – Currency Pair of the Week

The US dollar has started the new week trading mixed, rising to a fresh 2023 high against the Japanese yen but falling against the likes of the Aussie and pound. The dollar index closed higher last week. This week, we will have some important economic data to look forward to, including CPI from both the UK and US, which puts the GBP/USD outlook into focus.

Australian flag

AUD/USD analysis: RBA, Peak Fed Rates Narrative makes Aussie Currency Pair of the Week

The AUD/USD is our featured currency pair of the week, in what will be a quieter week for economic data compared to the previous week. Still, it could be a busy one for the Aussie given that we have a rate decision from the RBA as well as economic data from China and the US to look forward to.

Currency exchange rate board of multiple currencies

GBP/USD analysis in focus ahead of busy week - Currency Pair of the Week

After topping out at 1.3142 in July, the cable has shed over 1,100 pips at its lowest point in early October. This was in response to the sharp repricing of “higher for longer” US interest rates narrative. The further resilience of US data we have seen over the past couple of weeks hasn’t led to any further appreciation in interest rate expectations, keeping the dollar in consolidation mode.