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July 26th - According to French LCI television news, Trump stated regarding Iran that if we cannot get 100% of what we want from Iran, we will absolutely consider resuming a full-scale war. When asked what he would like to say to European allies, Trump said they are lucky to have a friend like him.Ukrainian President Zelensky: Russian satellite monitoring shows that Moscow is assisting Tehran in its strike operations in the Middle East.The UK Foreign, Commonwealth and Development Office advises against traveling to any area within 10 kilometers of the Saudi border with Yemen; except where necessary, avoid areas between 10 and 80 kilometers from the Saudi border with Yemen.On July 26, local time, US President Trump ordered the US military not to launch new airstrikes against Iran that day, ending nearly two weeks and 13 days of daily strikes. It is understood that Trump had previously approved daily strike plans submitted by the military, but after receiving a new operational plan on the 25th, he did not approve its implementation and instead directly ordered a halt to airstrikes for the day. It is unclear whether this decision is merely a one-day temporary measure or signifies a pause in military operations. Reportedly, hours before Trump ordered the suspension of airstrikes, an Omani delegation arrived in Tehran to negotiate new arrangements for reopening the Strait of Hormuz. Two regional sources familiar with the negotiations stated that progress had been made, and Oman and Iran are expected to reach an agreement by the end of the week, at which time Trump will decide whether to accept the proposed solution.A spokesperson for the Iranian Revolutionary Guard stated: "In 15 days of fighting, we destroyed 11 U.S. fighter jets and helicopters."

Prior to the release of UK GDP and US PCE Inflation figures, the GBP/USD has found a temporary resting place near 1.1200

Daniel Rogers

Sep 30, 2022 10:53

 截屏2022-09-30 上午9.56.05.png

 

Price action for GBP/USD on Friday's Asian session has seen it range between 1.1160 to 1.1555 as buyers prepare for the first weekly advance in three weeks. As a result, the cable pair is benefiting from the general weakness of the US dollar and the ambiguous outlook on the US dollar before to the release of important data from the UK and the US.

 

In a recent interview, UK Trade Secretary Kemi Badenoch said that the chancellor and the Bank of England are "working well" together.

 

As a result, the GBP/USD exchange rate is supported by expectations of a robust rate hike cycle from the Bank of England, or "Old Lady."

 

As a counterpoint, the US Dollar Index (DXY) has remained in the red at around 111.90, snapping a two-week uptrend. By this metric, the Fed's recent strong rhetoric and the widespread recession fears in the face of lowering inflation expectations are not justified by the dollar's performance against the six major currencies. Important for dollar traders today is the August Core PCE Price Index, which is expected to be 4.7% YoY, the same as the previous reading.

 

Final readings of the UK's Gross Domestic Product (GDP) for the second quarter (Q2) are expected to corroborate initial forecasts of -0.1%, making them important to track.

 

If incoming data verifies the projections, the GBP/USD could pare recent gains, which would be appropriate given the optimistic inflation estimates and fears of a UK economic downturn.

 

A significant break above a two-week-old resistance line, now support around 1.1035, is needed to keep GBP/USD investors upbeat, as is a move above the 100-day exponential moving average (EMA) surrounding the 1.1200 level. When the RSI reaches the overbought area, it usually means that further gains will be capped.


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