Fundamental

The Pound Sterling (GBP) staged a late rebound from near three-month lows against the US Dollar (USD), testing the critical 1.3440 supply zone.

Gold (XAU/USD) extended its slide into a third consecutive week and lost more than 6%, its worst weekly performance since March 2020, as major central banks adopted a hawkish tone because of the upside risks to inflation posed by rising energy prices.

The GBP/USD like all major currency pairs remains locked within a fairly vicious cycle, which is making day trading a rather tough affair for speculative wagers in the near-term, and things might not change soon.

The escalating war in the middle east is pushing energies higher and stocks lower, while broadly hawkish central banks are pushing up yields.

A price of 98.100 finished the week of trading in WTI Crude Oil on Friday. While that price remains high for all, believe it or not the value is actually below the previous week’s finish.

Major assets show mixed behavior under pressure from elevated rates and a strong dollar. FX, metals, and equities reflect caution and limited momentum.