Forex News
Standard Chartered Bank economists Jonathan Koh and Edward Lee now expect Bangko Sentral ng Pilipinas to raise its policy rate by 25bps to 5.25% in October, revising their previous call for a hold. They attribute the move to broader September inflation, higher Oil prices and Philippine Peso depreciation. The bank still anticipates easing from Q3-2027 once inflation returns to target.
BSP seen delivering one last hike
"We now expect Bangko Sentral ng Pilipinas (BSP) to raise its policy rate by 25bps to 5.25% in October, versus our previous expectation of a hold."
"Since then, core inflation has risen, oil prices have rebounded, and the PHP has depreciated further."
"The Fed’s September hike and further tightening by other central banks add to the case for another measured increase, even as growth remains soft."
"We therefore raise our end-2026 policy rate forecast to 5.25% from 5.00%."
"We still expect BSP to ease monetary policy once inflation falls back within the target range, likely in Q3-2027."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
The US Dollar (USD) has come under fresh downside pressure on Tuesday, slipping back to the area of two-day lows as shrinking fiscal jitters in France appear to have lent some support to the broader risk-linked galaxy.
Here is what you need to know on Wednesday, October 7:
The US Dollar Index (DXY) has faded the optimism seen at the beginning of the week, coming under fresh downside pressure and breaching below the 102.00 contention zone. The usual MBA Mortgage Applications are due, seconded by the NY Fed’s Consumer Inflation Expectations and the FOMC Minutes. In addition, the Fed’s Logan is due to speak.
EUR/USD has regained the smile, rebounding to weekly tops near 1.1280, where it seems to have met some initial resistance. On the domestic calendar, Germany will release its Industrial Production figures, alongside speeches by the ECB’s Cippolone and Vujčic.
GBP/USD has climbed with certain conviction, retargeting the 1.3300 hurdle on the back of the softer tone in the Greenback. The BBA Mortgage Rate will be released along with the Lloyds House Price Index.
USD/JPY added to Monday’s uptick, surpassing once again the 158.00 barrier, although bulls’ conviction remains elusive. The Reuters Tankan Index comes next, followed by Average Cash Earnings and the flash Coincident and Leading Economic indexes.
AUD/USD has managed to clinch its third consecutive daily gain, coming just short of the critical 0.7000 milestone. The final Building Permits data and Private House Approvals are due ahead of the Ai Group Manufacturing Index.
Front-month WTI futures have added to the ongoing pullback, down for the third day in a row, and this time breaking below the $87.00 mark per barrel as supply concerns in the Middle East continued to ease.
Gold has kept its consolidative mood in place, advancing modestly but still trading below the $4,200 mark per troy ounce. The fresh offered stance on the US Dollar, along with declining US Treasury yields across the board, accompanied the precious metal’s decent advance on Tuesday.
Kansas City Federal Reserve (Fed) President Jeffrey Schmid said on Tuesday that the labor market remains in a good place, and he remains concerned about the high cost of living, saying “inflation is frustrating, must be fixed.”
Schmid added that credibility is “at stake in fighting inflation,” and that the US central bank has a “way to go” to bring prices to the Federal Reserve’s 2% goal.
Key highlights:
Labor force remains in a good place
Inflation is frustrating, must be fixed
Still have a way to go in beating inflation
AI is now one of the largest drivers of inflation
Fed's credibility at stake in fighting inflation
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.35% | -0.36% | 0.11% | -0.35% | -0.19% | -0.43% | 0.06% | |
| EUR | 0.35% | -0.06% | 0.45% | -0.02% | 0.17% | -0.08% | 0.42% | |
| GBP | 0.36% | 0.06% | 0.50% | 0.03% | 0.23% | -0.03% | 0.50% | |
| JPY | -0.11% | -0.45% | -0.50% | -0.46% | -0.29% | -0.51% | -0.01% | |
| CAD | 0.35% | 0.02% | -0.03% | 0.46% | 0.17% | -0.08% | 0.44% | |
| AUD | 0.19% | -0.17% | -0.23% | 0.29% | -0.17% | -0.26% | 0.27% | |
| NZD | 0.43% | 0.08% | 0.03% | 0.51% | 0.08% | 0.26% | 0.52% | |
| CHF | -0.06% | -0.42% | -0.50% | 0.01% | -0.44% | -0.27% | -0.52% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
- Silver holds firm as a softer US Dollar and lower Treasury yields offer some relief.
- XAG/USD remains below its key daily SMAs, keeping the technical outlook bearish.
- RSI below 50 and negative MACD suggest rallies remain vulnerable to selling.
Silver (XAG/USD) holds firm on Tuesday, supported by a pullback in the US Dollar (USD) and US Treasury yields. At the time of writing, the metal trades around $61.50, up 0.75% on the day. Despite the intraday bounce, Silver remains confined to a narrow range, with fundamental headwinds and technical resistance limiting the upside.
US Treasury yields remain elevated near multi-year highs despite Tuesday’s retreat, increasing the opportunity cost of holding non-yielding assets such as Silver. Persistent inflation risks keep the Federal Reserve (Fed) leaning toward further tightening as it seeks to bring inflation back toward its 2% target, although recent softer-than-expected US employment and inflation data have tempered expectations of a rate hike at the October 27-28 meeting.
Traders still anticipate one additional rate hike this year, most likely in December. Attention now turns to the Federal Open Market Committee (FOMC) meeting minutes, due on Wednesday, for clues on the Fed’s next move.
Technical analysis
On the daily chart, XAG/USD remains confined between $60 and $62, trading below the 50-, 100- and 200-day Simple Moving Averages (SMAs) and the 61.8% Fibonacci retracement at $62.13. The Relative Strength Index (RSI) at 43 stays in neutral-to-soft territory and the Moving Average Convergence Divergence (MACD) indicator is negative, together hinting that rallies are likely to face selling interest rather than signal a sustained bullish reversal.
On the topside, initial resistance sits at the range ceiling near $62, closely aligned with the 61.8% retracement at $62.13. A break above this area would bring the 50.0% retracement at $63.84 into focus, followed by the 50-day and 100-day SMAs at $64.20 and $64.45. Further resistance lies at the 38.2% retracement at $65.56 and the 23.6% level at $67.69.
On the downside, initial support appears at the $60.00 psychological mark, close to the 78.6% Fibonacci retracement at $59.68. A sustained break below this zone could expose the cycle low near $56.57, corresponding to the 100% retracement.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
San Francisco Federal Reserve (Fed) President Mary Daly said she supported September’s rate hike and that additional rate hikes may be needed, depending on external shocks.
Daly told Axios in an interview that “If the shocks that we've experienced — tariffs, oil prices from the Middle East conflict, and then AI — if they prove to be conventional shocks where they come, they go, and they have temporary effects, then we may not need more. And I still have some probability on that.”
She added that AI-related demand for chips is rising and could fuel inflationary pressures, and that supply bottlenecks, as after the COVID pandemic, drove up car prices due to chip shortages.
Key highlights:
Concerned AI, tariffs, energy costs may last longer
These factors could keep inflation elevated.
May result in more tightening required.
Fed may observe shocks diminishing within 1-3 years
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.34% | -0.36% | 0.14% | -0.34% | -0.19% | -0.44% | 0.07% | |
| EUR | 0.34% | -0.05% | 0.46% | -0.01% | 0.16% | -0.10% | 0.42% | |
| GBP | 0.36% | 0.05% | 0.55% | 0.04% | 0.22% | -0.04% | 0.49% | |
| JPY | -0.14% | -0.46% | -0.55% | -0.47% | -0.32% | -0.57% | -0.04% | |
| CAD | 0.34% | 0.01% | -0.04% | 0.47% | 0.15% | -0.12% | 0.43% | |
| AUD | 0.19% | -0.16% | -0.22% | 0.32% | -0.15% | -0.27% | 0.28% | |
| NZD | 0.44% | 0.10% | 0.04% | 0.57% | 0.12% | 0.27% | 0.55% | |
| CHF | -0.07% | -0.42% | -0.49% | 0.04% | -0.43% | -0.28% | -0.55% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Volkmar Baur at Commerzbank highlights China’s new anti-dumping probe into EU nitrotoluenes as likely linked to broader trade frictions. A Franco-German non-paper urges tougher EU action on dumping, subsidies and currency manipulation ahead of Trade Commissioner Sefcovic’s China trip. Failure to deliver concrete measures to address imbalances could trigger an EU-China trade war with significant currency implications.
EU-China imbalances threaten currencies
"When Sefcovic met with his Chinese counterpart Wang Wentao in late June, they agreed to find a solution by October to the growing trade imbalance between the EU and China. The non-paper by Macron and Merz now signals that this time it should not stop at mere rhetoric, but that concrete measures are needed. If this does not happen, there is a risk of a trade war between China and the EU, which could have significant implications for currencies."
"There is a great deal at stake for both regions. China is a key supplier to Germany and the European Union. A whole range of intermediate goods are now virtually unavailable anywhere except from China."
"On the other hand, Europe has become an important export market for China - particularly due to the trade war with the US. In the first eight months of this year, Chinese exports to the EU rose by 15% compared to the same period last year, while the trade surplus increased by as much as 23%."
"It is likely no coincidence that this non-paper was published shortly before EU Trade Commissioner Maros Sefcovic’s trip to China and before the European Council meets again this month to discuss these issues."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- WTI rebounds as persistent Middle East security risks keep Oil prices supported.
- Recovering exports and planned G7 reserve releases offer only limited supply relief.
- Traders await API and EIA inventory figures for fresh supply and demand signals.
West Texas Intermediate (WTI) rebounds on Tuesday as shipping risks in the Strait of Hormuz keep Oil prices supported despite improving Middle East exports, with US-Iran talks still deadlocked. At the time of writing, WTI trades around $89 after falling to an intraday low of $86.32, its lowest level since September 1.
According to the latest data from Kpler, Gulf crude exports, excluding Iran, averaged 18.3 million barrels per day in the final week of September, with the recovery driven mainly by Saudi Arabia. Additional supply relief came after G7 countries agreed on Friday to release 100 million barrels of diesel and crude oil from emergency reserves.
Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that flows through the East-West Pipeline reached 5.8 million barrels per day. The pipeline carries crude to the Red Sea export hub of Yanbu, providing an alternative route that bypasses the Strait of Hormuz.
According to TD Securities, “Chinese product export restrictions and growing refiner demand are increasingly absorbing the increase in supply, keeping prices elevated and risks tilted toward the upside in our view.”
Shipping risks remain elevated despite the recovery in exports. At least seven incidents involving tankers have been reported over the past week, according to shipping intelligence service Marisks. Meanwhile, fighting between Saudi Arabia and the Iran-backed Houthis leaves regional infrastructure exposed to fresh attacks.
Meanwhile, the US Energy Information Administration (EIA) raised its Oil price forecasts in its October Short-Term Energy Outlook, citing declining global inventories and tight diesel markets. The agency lifted its 2026 Brent forecast to $96.32 per barrel from $91.01 and its 2027 projection to $83.74 from $73.74. WTI forecasts rose to $88.21 for 2026 and $79.74 for 2027, from $84.65 and $69.74, respectively.
The EIA also lowered its global Oil demand forecasts to 102.4 million barrels per day for 2026 and 104.6 million for 2027, down from 102.6 million and 105 million, respectively.
Traders now turn to US inventory figures for fresh clues on supply and demand. The American Petroleum Institute (API) report is due later on Tuesday, followed by the EIA’s weekly inventory data on Wednesday.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- DXY drops back under 102.00 and below Monday's low.
- Lower bond yields ease French borrowing costs, and the Euro rebounds off a low.
Brent fell below $98 a barrel as Gulf exports picked up, and bond yields in Europe and the US fell with it. France got the most relief, as the extra yield investors want for holding its 10-year debt over Germany's narrowed to about 1.3 percentage points from more than 1.5 on Friday.
The Euro, more than half the Dollar Index, has rebounded from Monday's low, its weakest since May 2025. Every other currency in the index has gained on the Dollar except the Yen and the Swiss Franc, the two that investors buy when they're nervous.
Investors are buying risk, and the S&P 500 has hit a record. The record is narrow. Nvidia (NVDA), Apple (AAPL) and Microsoft (MSFT) now make up more than 21% of the S&P 500, and the Russell 2000 of smaller companies is barely higher.
Part of Brent Crude Oil's fall is a Group of Seven (G7) release of 100 million barrels of emergency stocks over four months. That's about five days of what went through the Strait of Hormuz before the war.
On the charts
Monday's bar topped out just above 102.50, the highest since April 2025, and left a long upper wick. Tuesday's bar has gone back under 102.00 and below Monday's low.
The drop reached the 101.75 area, less than a fifth of the rally from the September 9 low near 98.60, and the index is trading near 101.85. Momentum indicators have broadly turned down since late September. The index is still well above its 50-day Exponential Moving Average (EMA) near 100.35.
DXY, daily chart
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
- GBP/USD gains 0.40% as the US Dollar retreats from multi-month highs.
- Mann says UK inflation has become increasingly embedded.
- Markets price in 87% odds of a November BoE rate hike.
The Pound Sterling (GBP) advances about 0.40% on Tuesday as the Greenback retreats from multi-month highs, boosted by hawkish comments from a Bank of England (BoE) Monetary Policy Committee (MPC) member, while a widening US trade deficit weighed on the Greenback. The GBP/USD trades at 1.3281 at the time of writing.
Sterling advances as Dollar retreats, while markets boost November BoE hike bets
An improvement in risk appetite is hurting the US Dollar, which, according to the US Dollar Index (DXY), which measures its performance against six currencies, is down 0.31% at 101.78.
In the Middle East, hostilities continued, as Yemeni forces and the Houthis exchanged fire as the former try to recapture Bab al-Mandab strait to reopen vessel traffic in the Red Sea. This pushed energy prices lower, with West Texas Intermediate (WTI), the US Oil benchmark, down 0.59% at $88.75 per barrel.
On the data front, the US trade deficit widened in August, as imports rose to a record high, resulting in record goods trade deficits with at least three countries, including Mexico. The figure came at $-105.6 billion, missing the forecast of $-102 billion.
Other data showed the labor market is solid, with the ADP Employment Change 4-week average rising to 23.75K, up from 22.5K the previous week.
In the UK, the schedule was light, with BoE’s Catherine Mann stating that inflation has become embedded. Her comments boosted the Pound, and now traders' eyes are on the BoE’s Governor Andrew Bailey, expected to speak on Thursday.
Money markets had priced in an 87% chance of a rate hike in November, according to Prime Terminal, mostly due to the prolongation of the Middle East conflict, which has elevated energy prices.
GBP/USD Price Forecast: Technical Outlook
In the daily chart, GBP/USD trades at 1.3276, keeping a bearish near-term bias as spot holds beneath the dense cluster of the 50, 100 and 200-day Simple Moving Averages (SMAs) grouped around 1.3451. Price also remains below the latest downward-sloping resistance trend lines, with nearby supply first at the earlier break level of 1.3304 and then at 1.3428, reinforcing a capped tone despite the Relative Strength Index (RSI) at 41.6 hinting at only modestly negative momentum rather than outright oversold conditions.
On the topside, immediate resistance appears at the former break of the primary descending trend line near 1.3304, followed by the secondary downward resistance around 1.3428 and the broader SMA barrier clustered close to 1.3451. On the downside, initial support is derived from the rising trend structure, with the more recent upward-support line anchored near 1.3159 and the deeper medium-term base around 1.3140, where buyers would be expected to re-emerge if the current 1.3276 pivot gives way.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.34% | -0.36% | 0.16% | -0.28% | -0.17% | -0.42% | -0.01% | |
| EUR | 0.34% | -0.07% | 0.50% | 0.04% | 0.19% | -0.09% | 0.34% | |
| GBP | 0.36% | 0.07% | 0.57% | 0.13% | 0.25% | -0.03% | 0.42% | |
| JPY | -0.16% | -0.50% | -0.57% | -0.43% | -0.31% | -0.56% | -0.13% | |
| CAD | 0.28% | -0.04% | -0.13% | 0.43% | 0.12% | -0.15% | 0.29% | |
| AUD | 0.17% | -0.19% | -0.25% | 0.31% | -0.12% | -0.28% | 0.18% | |
| NZD | 0.42% | 0.09% | 0.03% | 0.56% | 0.15% | 0.28% | 0.46% | |
| CHF | 0.00% | -0.34% | -0.42% | 0.13% | -0.29% | -0.18% | -0.46% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Scotiabank strategists Shaun Osborne and Eric Theoret report that the Canadian Dollar (CAD) is trading flat against the US Dollar, with markets showing little reaction to Quebec’s provincial election. Political risks remain a medium-term headwind, with referendum concerns in Quebec and Alberta weighing on sentiment. Meanwhile, USD/CAD’s rally appears technically stretched, with bearish reversal signals and limited support seen between current levels and the 1.40 area.
Rally looks exhausted near 1.42
"The CAD is trading flat to the USD with markets offering no material reaction to domestic political developments and the result of the provincial election in Quebec."
"Risks for the CAD are two sided, as the minority win for the PQ has been delivered with the possibility of a governing majority with the Conservatives, however the medium-term risks are worrisome given the PQ leader’s promise to hold another secession referendum within his first four-year term – but after the end of the current US administration in order to avoid interference."
"The result heightens the importance and tightens the focus on the October 19 Alberta referendum, presenting a major sentiment related risk for the CAD. Risk reversals remain relatively muted at the moment."
"Bullish/neutral – the USD/CAD rally looks exhausted with a series of bearish reversal signals observed over the past several sessions. Shooting star doji’s are typically associated with bearish reversals, and the RSI looks extremely overbought around 80. USD/CAD has struggled above the mid-1.42s and we continue to see limited support between current levels and the psychologically important 1.40 level."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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