GBP/CAD remains under pressure as investors brace for BoE’s rate decision and guidance on future cuts. A break below 1.78432 would confirm further downside, while a recovery beyond 1.79110 could delay further declines. The policy outlook from Governor Bailey remains the primary driver of GBP’s next move.
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China responded with retaliatory tariffs on US imports, announcing 15% duties on coal and liquefied natural gas (LNG) from the US, alongside 10% additional tariffs on crude oil, agricultural equipment, and automobiles. This deterioration in global trade relations has weakened commodity-linked currencies, particularly the Australian dollar, as China remains its...
The Japanese yen continues to strengthen against the British pound, benefiting from its safe-haven appeal as trade tensions escalate. Increasing speculation over potential US trade tariffs on the UK and the European Union has heightened uncertainty, prompting investors to seek refuge in low-yielding, risk-averse assets such as the yen.
Technical Analysis
On the...
Market Overview
The Federal Reserve is widely expected to keep interest rates unchanged. Meanwhile, the Bank of Canada is projected to reduce its benchmark interest rate by 25 basis points, bringing it down to 3.00%. The pace of easing from the BoC remains a focal point, as a more aggressive rate-cut cycle in Canada could further widen the interest rate...
The pound remains in a corrective phase against the dollar, with sellers testing key support levels. While the broader uptrend remains intact, a break below 1.24255 would signal deeper corrections. Conversely, a move above 1.25227 would reaffirm bullish momentum.
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The AUD/JPY pair remains under bearish pressure, with sellers eyeing a sustained break below critical support at 97.700. While technical indicators confirm the dominance of downward momentum, upcoming economic events in both Japan and Australia could introduce volatility, potentially influencing the pair's trajectory.
Key Technical Levels
• Resistance Levels:...
