GBP/USD trades in a more cautious tone as attention turns firmly toward upcoming US employment data. The US dollar has regained some ground after failing to hold onto earlier gains yesterday, with initial volatility linked to developments in Venezuela quickly giving way to a renewed focus on economic data. A disappointing ISM manufacturing print initially weighed on the dollar, but softer German inflation helped the greenback stabilise, while GBP/USD met selling interest abov

AUD/USD enters the new month and year on firm footing, extending its rally into a key multi-month uptrend resistance zone. While the broader technical structure remains constructive, the pair is now approaching an area where upside momentum may slow, raising the risk of a near-term inflection. With Australian inflation data due shortly and key US labor market releases, including ADP and Non-Farm Payrolls, scheduled later this week, incoming macro catalysts could play a decisi

USD/CAD has closely tracked broader US dollar movements in recent months, often amplifying those trends. The pair printed fresh highs in early November as DXY approached a potential breakout. That area ultimately marked a turning point. While DXY later revisited early November resistance near the 100 level, USD/CAD failed to confirm the move, setting a clear lower high. Momentum then shifted decisively, with the pair sliding back below 1.4000. A brief attempt to reclaim the f

Fundamental Analysis GBP/USD recorded a solid performance in 2025, rising around 6.5%. However, the rally was driven far more by broad US dollar weakness than by outright strength in the pound. This is reflected in sterling’s mixed performance against its major peers. While the US dollar index fell roughly 10% over the year, marking its worst annual decline since 1979, the pound lost ground against the euro and the Swiss franc, while remaining broadly flat versus the Australi

GBP/USD staged a strong recovery in 2025, rallying from the 15-month low at 1.21 to a four-year high of 1.3790 by July 1, before moving into consolidation through the summer. The pair weakened between September and November, but regained ground into year-end. Looking ahead to 2026, the outlook appears more balanced, with growing uncertainty around how much further the US dollar can weaken, potentially limiting GBP/USD’s upside. For a deeper view on the macro drivers shaping t

The outlook for the euro remains constructive heading into 2026. EUR/USD has delivered a strong recovery, gaining more than 13% this year and trading near four-year highs. After rallying over 17% from the yearly lows, the pair stalled at a major technical resistance zone in Q3 and has since moved into consolidation. While near-term pullbacks remain possible, the broader trend structure continues to favor upside into 2026. The key driver remains growing monetary policy diverge

USD, AUD/USD, USD/JPY and EUR/USD Outlook Key Themes for 2025–2026 USD 2025 recap: The US dollar experienced a highly volatile 2025. DXY surged above 110 early in the year on the so-called Trump trade, driven by expectations of protectionism, fiscal expansion, and pro-growth reforms following the 2024 election. By March, aggressive tariff policies and concerns over Fed independence triggered recession fears, reversing the rally. As inflation eased and the labour market soften

The outlook for Australian monetary policy has shifted decisively over the past quarter. What began as a broad market consensus for a final rate cut, followed by a prolonged hold into 2026, has been replaced by renewed concern around inflation persistence. Stronger-than-expected CPI and GDP prints, combined with a still-resilient labour market, have forced the RBA into a hawkish hold stance. Markets have now fully priced out further easing, implying the tightening cycle may

Gold heads into 2026 after one of its strongest years on record. Driven by heavy central bank buying, global rate cuts, and strong safe-haven demand, prices surged more than 70% in 2025 and posted multiple record highs. The key question now is whether gold can hold those gains in 2026. The long-term bullish case is still intact, and it remains difficult to argue for aggressive downside. However, the macro backdrop looks more balanced than it did last year. Central bank buying

If you told traders a year ago that the US Dollar would peak just two weeks into the New Year and then slide lower for months, very few would believe it. Coming into 2025, sentiment was heavily skewed toward a EUR/USD move to parity. That view made sense after the aggressive sell-off in Q4 last year. But major turning points often show up around yearly and quarterly closes. That is exactly what happened. The USD topped and EUR/USD bottomed in mid-January. After consolidating