Analyzes

Weekly market overview: key forex pairs, gold, oil, Bitcoin, and natural gas show mixed trends and volatility.

The US Dollar (USD) ended the week slightly lower, coming under renewed selling pressure late in the week after hitting multi-month highs.

Despite a promising start to the week, the upside impulse in the US Dollar (USD) fizzled out in the second half of the week, leaving it with modest losses when looking at the weekly chart.

The EUR/USD pair ends the week with modest gains at around 1.1580 after falling to 1.1468, its lowest in over three months. The US Dollar (USD) maintained its positive tone throughout the first half of the week, but changed course on Thursday, although with modest downward strength.

GBP/USD trades around 1.3130 on Friday at the time of writing, broadly stable on the day, as markets await the Autumn Budget and reassess the Bank of England’s (BoE) dovish hold.

The Pound Sterling (GBP) extended its downtrend and reached seven-month lows near 1.3000 against the US Dollar (USD), before GBP/USD buyers quickly jumped in and recovered some ground.