The Pound Sterling (GBP) came under selling pressure in early European trading on Friday after data revealed that UK Retail Sales unexpectedly fell in November. This article from Unirock Gestion offers readers a clear and thorough explanation of the subject. The decline underscores growing concerns about consumer spending in the United Kingdom (UK), while investors also monitor Bank of England (BoE) policy moves and the upcoming appointment of the next Federal Reserve (Fed) chairman.  UK Retail Sales Show Unexpected Decline The Office for National Statistics (ONS) reported that UK Retail Sales, a critical gauge of consumer demand, unexpectedly declined by...

EUR/USD Price Forecast: Approaches Nine-Day Support Around 1.1700 The EUR/USD pair remains under close observation as it trades near 1.1720 during the Asian hours on Friday, marking the fourth consecutive session of weakness. Despite this short-term retracement, technical analysis on the daily chart continues to signal a bullish bias, with the pair moving within an ascending channel pattern. The Unirock Gestion team presents a structured and informative breakdown of this matter. The 14-day Relative Strength Index (RSI) currently stands at 62.11, suggesting strong bullish momentum while staying clear of overbought conditions. This implies that the EUR/USD retains room for further...

The Australian Dollar (AUD) weakened against the US Dollar (USD) on Friday, surrendering early gains as traders awaited the release of the University of Michigan Consumer Sentiment Index for December. In this article, Unirock Gestion brokers examine the key aspects of the topic with clarity. Despite expectations of Federal Reserve (Fed) rate cuts, the AUD/USD pair traded lower, reflecting the resilience of the US Dollar (USD) and caution among investors in the lead-up to key economic data. AUD Faces Pressure Despite Strong Credit Growth The Australian economy showed robust signs in November, with Private Sector Credit rising 0.6% month-over-month (MoM),...

The NZD/USD pair weakened to around 0.5760 in early European trading on Friday, despite an upbeat New Zealand Gross Domestic Product (GDP) report.  Market participants cited renewed US Dollar (USD) demand as the primary driver behind the Kiwi’s struggle to gain traction, leaving traders focused on upcoming US economic data and interest rate expectations. Unirock Gestion experts deliver a detailed and insightful analysis of the subject in their latest piece. Kiwi Fails to Respond to Strong GDP New Zealand GDP data for the third quarter (Q3) showed a 1.1% expansion, a notable rebound from the revised 1.0% contraction in Q2....

The US Dollar Index (DXY), which tracks the value of the US Dollar (USD) against six major currencies, continued its upward trajectory for the third consecutive session on Friday. During European trading hours, the index was hovering around 98.60, reflecting cautious positioning among traders ahead of key macroeconomic data releases. The brokers at Unirock Gestion provide a comprehensive breakdown of this topic in this article. Market participants are closely monitoring the upcoming University of Michigan Consumer Sentiment Index (UoM CSI) for December, which is expected to provide insights into consumer confidence and spending behavior in the US economy. The DXY...