Tue. Oct 26th, 2021

Per Orbex

GBPUSD increases as the recovery continues

GBPUSD

As the best performance among the G10 currencies, the pound rises as the reopening of the UK gains strength.

While concerns about the more contagious variant may not dissipate soon, and even if Prime Minister Boris Johnson remains cautiously optimistic, a low hospitalization rate could be the key to avoiding another blockade.

Threadneedle Street will have to juggle patience and determination to navigate the pandemic. The first is expected regarding this week’s meeting.

The couple has bounced 1.3570. Concentration above 1.3900 has opened the door to the previous high a 1.4250.

AUDUSD falls as the conical table rotates

AUDUSD

The weakness of the US dollar has given Australians the opportunity to make up for some losses. However, the rebound could be short-lived, as prolonged Covid restrictions erode confidence in the currency.

The RBA will meet this week as Sydney enters its sixth week of blockade amid new outbreaks.

Faced with the prospect of an economic contraction in the third quarter, the central bank may reverse the course of its decision to shrink by the end of this year. If so, the oxen can leave the boat and the Australian dollar would fall to the psychological level of 0.7000.

To the advantage, 0.7600 it still acts as a firm resistance.

XAUUSD recovers in red Fed

NOTE

Gold bounces back as Fed Chairman Jerome Powell poured cold water back on taper enthusiasts.

A dream of US dollars helps lift the metal back after the June sale. Given the risk of inflation, stock volatility and general uncertainty about the pandemic, gold can still benefit from its safe attractiveness.

In addition, as major central banks soar in interest rates may move forward, unprofitable bullion may retain its appeal for the foreseeable future.

Price consolidates your profits above 1760. A sustainable recovery will have to overcome the hurdle 1910.

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