GBP/USD made a recovery against the loss during early Friday. While doing so, the quote enjoys the recent recovery in the market sentiment. Market sentiment is boosted as hopes of further stimulus join the Fed’s strong rejection of reflation fears. Also adding the optimism in the market sentiment is the US President Joe Biden’s push [...]
The yellow metal struggles to find consistent bullish momentum. One of the gold market analyst said that investors should stop paying attention to the irrational selloff in the bond market and instead focus on long-term fundamentals as global deficits and debt continue to grow. George Milling-Stanley, chief gold strategist at State Street Global Advisors, said [...]
US data was disappointing with the lower-than-expected new Home Sales which declined 18.2% MoM in February, well below expectations of a 5.7% drop. ''Part of this drop reflects freezing weather conditions in February reducing activity in some parts of the US, alongside limited supply. The median sales price rose 5.3% YoY,'' said an Analyst. In [...]
The sterling struggles despite improved unemployment data, the employment data showed that the unemployment rate unexpectedly dropped to 5% in January. The estimates were pointing to a modest uptick to 5.2% from 5.1%. The positive reading, to a larger extent, was offset by a Jump in the number of people claiming unemployment-related benefits to 86.6K [...]
