GBP/USD caught a slight lift on Tuesday, creeping into the 1.3450 region and tilting into a third straight bullish session. United Kingdom (UK) Gross Domestic Product (GDP) growth figures beat expectations, bolstering the Pound Sterling (GBP), while US Dollar (USD) flows hunkered in place as investors brace for the US government's latest funding crisis shutdown. UK GDP accelerated to 1.4% YoY in Q2, rising above the expected hold at 1.2%. GBP flows tilted bullish afterward, but FX market flows have broadly drawn down ahead of the US government shutdown, which was confirmed after Congress...
The dollar fell on Tuesday following softer-than-expected economic data, as investors awaited a likely U.S. government shutdown that could disrupt the release of the monthly nonfarm payrolls report this week. Government funding expires at midnight on Tuesday (0400 GMT) unless Republicans and Democrats agree to a last-minute interim deal. "The shutdown is pretty much well-priced in by the market," said Eugene Epstein, head of trading and structured products, North America, at Moneycorp in New Jersey. "The question is how long the shutdown is going to be - if it's a few days as the market...
The Japanese Yen (JPY) gains traction against the US Dollar (USD) on Tuesday, with USD/JPY extending losses for a third straight day as the looming United States (US) government shutdown weighs on the Greenback and bolsters safe-haven demand for the Yen. At the time of writing, the pair is trading near 147.85, down nearly 0.5% on the day. Investors largely shrugged off Japan's weak economic activity data released earlier in the day, instead turning their attention to the political gridlock in Washington. US President Donald Trump, speaking at the White House on Tuesday, warned that "we'll...
Gold climbs during the North American session on Tuesday yet remains below the record high hit in the Asian session of $3,871. Amid fears of a US government shutdown, jobs data reaffirmed expectations of rate cuts by the Federal Reserve (Fed). XAU/USD trades at $3,846, up 0.35%. Bullion steadies as US Dollar weakness underpins safe-haven demandThe latest Job Openings and Labor Turnover Survey (JOLTS) revealed by the Bureau of Labor Statistics (BLS) showed that US vacancies increased slightly but exceeded estimates. Meanwhile, the Conference Board's Consumer Confidence showed that Americans...