• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Futures News, March 4th: 1. Snowfall is expected in central and northern North China and southern Northeast China. From March 4th to 6th, light to moderate snow is expected in central and northern North China, southern Northeast China, western mountainous areas of southern Xinjiang, and the Ili River Valley, with heavy snow in some areas. 2. Over the next three days, influenced by a deepening low-pressure system and upper-level trough, heavy snow is expected in parts of western Norway, northern Sweden, most of Finland, Iceland, southern East European Plain, northern Iran, Kyrgyzstan, Tajikistan, central and eastern Afghanistan, and northern Pakistan, with blizzards or heavy blizzards in some areas. Accumulated precipitation in some of these areas will be 10-20 mm, with some areas exceeding 40 mm. Most of these areas will also experience winds of force 5-6, with gusts of force 8-9. 3. Over the next three days, influenced by a low-pressure system and an upper-level trough, moderate to heavy snow or sleet is expected in parts of high-altitude coastal and central Canada, the western mountainous regions of the United States, the eastern Great Lakes region, and southern Labrador Peninsula, with localized blizzards or heavy snowfalls. Accumulated precipitation is expected to be 10-20 mm, with some areas exceeding 40 mm. Temperatures in most of these areas will drop by 6-10°C, with some areas experiencing a drop of over 14°C. 4. Over the next three days, influenced by multiple low-pressure systems and an upper-level trough, moderate to heavy rain is expected in parts of northern Western Australia, the Northern Territories, northern Queensland, Papua New Guinea, and the Solomon Islands, with localized torrential rains. Accumulated precipitation in these areas is expected to be 30-50 mm, with some areas exceeding 80 mm.Market news: Israeli and/or US airstrikes are targeting Iranian-backed Popular Mobilization Forces (PMF) targets in Iraq.The worlds largest gold ETF, SPDR Gold Trust, saw its holdings decrease by 2.29 tons from the previous day, with its current holdings at 1099.05 tons.The Saudi cabinet issued a statement saying it will take all necessary measures to safeguard national security.Key Futures Data and Events to Watch Today (March 4, 2026), Wednesday: 1. Chinas official February manufacturing PMI; 2. Chinas February RatingDog services PMI; 3. UK LME non-ferrous metal inventory change to March 4; 4. US February ADP employment change; 5. US February S&P Global Services PMI final reading; 6. US February ISM non-manufacturing PMI; 7. US EIA crude oil inventories for the week ending February 27.

GBP/USD to Test 1.2260; Downside Remains Favored Due to Rising US CPI; UK GDP Watched

Daniel Rogers

May 12, 2022 10:13

The GBP/USD pair has broken to the negative from its week-long consolidation between 1.2260 and 1.2400. The asset may test the lower range of consolidation to confirm the bears' strength, but the downside remains intact as rising US inflation data has increased the likelihood of a massive rate hike by the Federal Reserve (Fed) in June.

 

Wednesday's 8.3 percent reading for the US Consumer Price Index (CPI) surpassed the 8.1 percent forecast by theștiindștiind. Market analysts anticipated that the Fed's June monetary policy would include a 50 basis point (bps) interest rate hike in response to the US CPI reading of 8.1%. Now, a higher-than-anticipated US inflation rate has increased the likelihood of a 75 basis point rate hike. This has shook the foreign exchange market, and investors are selling risky assets like there is no tomorrow.

 

In the meantime, the US dollar index (DXY) is trying to maintain its position above 104.00, although the upside remains intact. Regarding the British pound, investors anticipate the announcement of Gross Domestic Product (GDP) figures. The quarterly GDP estimate for the United Kingdom is predicted to be 1 percent, compared to the previous estimate of 1.3%, while the annual estimate is projected to be 9 percent, compared to the previous estimate of 6.6%. A higher-than-anticipated UK GDP may protect the pound from additional losses, whilst a weaker-than-anticipated figure would accelerate the asset's decline.

GBP/USD

image.png