Sterling was left open to steep losses on Wednesday following the mixed manufacturing and production report which rekindled concerns over the health of the UK economy. The Dollar has lost its title of king and remains under pressure as expectations fade of the Fed taking action in September. In the commodities arena Crude Oil lurched higher from Dollar weakness but still remains vulnerable to losses. The main focus will be the ECB meeting which is widely expected to conclude with another instance of inaction. • The #EURUSD has been uplifted by Dollar weakness • #GBPUSD bulls may reclaim control back above 1.3400 • #Gold is eying the $1355 resistance
Sterling was left open to steep losses on Wednesday following the mixed manufacturing and production report which rekindled concerns over the health of the UK economy. The Dollar has lost its title of king and remains under pressure as expectations fade of the Fed taking action in September. In the commodities arena Crude Oil lurched higher from Dollar weakness but still remains vulnerable to losses. The main focus will be the ECB meeting which is widely expected to conclude with another instance of inaction.
• The #EURUSD has been uplifted by Dollar weakness
• #GBPUSD bulls may reclaim control back above 1.3400
• #Gold is eying the $1355 resistance
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