Fundamental

Some impressive US data should have resulted in a much stronger USD. Well, it didn’t happen.

The Pound Sterling (GBP) failed to resist at higher levels against the US Dollar (USD), but buyers held their ground amid a US data-busy blockbuster week.

Gold is on the defensive but holds the $5,000 threshold in early trading on Monday. Market holidays in the United States (US) and China leave the bright metal trading listlessly, so far.

Gold (XAU/USD) started the week on a bullish note and climbed above $5,000 before declining sharply and erasing its weekly gains on Thursday, only to recover heading into the weekend. Investors await growth and business activity data from the US, while keeping an eye on the broad market mood.

Massive gains by the Japanese Yen on soaring investor confidence in Japan, plus a weaker US Dollar on the prospect of more interest rate cuts due in 2026, dominated the markets last week.

At the close of trading on Friday the GBP/USD was near the 1.36514 ratio, this after touching a low earlier in the day when the currency pair lurched towards the 1.35920 mark upon nervousness.