Fundamental / Economic Backdrop (short term)
Sterling remains primarily driven by relative monetary policy expectations between the Bank of England and the Federal Reserve. Recent UK data continues to point towards moderating inflation pressures alongside resilient but slowing growth, reinforcing expectations that the BoE remains near the peak of …
Month: December 2025
USDCHF 18/12/2025
Fundamental / Economic Backdrop (short term)
Short-term USDCHF price action continues to be driven by relative monetary policy expectations and risk sentiment. The US Dollar remains broadly supported by still-restrictive Federal Reserve policy guidance, with markets pricing only gradual easing into 2026. Recent US data has remained resilient enoug…
USDJPY 18/12/2025
Fundamental / Economic Backdrop (short term)
Short-term fundamentals continue to be dominated by the US–Japan monetary policy divergence. US yields remain elevated, supported by resilient US data and a Federal Reserve stance that remains cautious on easing. In contrast, the Bank of Japan continues to signal gradual normalisation, but without urg…
XAUUSD 18/12/2025
Fundamental / Economic Backdrop (short term)
Gold remains driven by short-term US dollar dynamics, real yield expectations, and residual safe-haven demand. Recent consolidation reflects a pause after strong upside momentum, with markets reassessing near-term Federal Reserve policy expectations and upcoming US macro data. Elevated geopolitical and …
XAGUSD 18/12/2025
Fundamental / Economic Backdrop (short term)
Silver remains influenced by a combination of USD dynamics, real yield expectations, and broader risk sentiment. Recent sessions reflect a continuation of precious metals strength, underpinned by ongoing market sensitivity to central bank guidance and inflation persistence. While no immedi…
USDCHF 17/12/2025
Fundamental / Economic Backdrop (short term)
Short-term fundamentals remain driven by relative USD and CHF safe-haven demand, expectations around US monetary policy, and broader risk sentiment. The US Dollar is stabilising following recent data that reinforced a “higher for longer” rates narrative, while the Swiss Franc continues to attract de…
EURUSD 17/12/2025
Fundamental / Economic Backdrop (short term)
Short-term EURUSD price action continues to be driven by relative monetary policy expectations and near-term macro data momentum. The US dollar remains sensitive to shifts in Federal Reserve rate-cut timing, with markets increasingly focused on incoming inflation and labour market data for confirmation.…
GBPUSD 17/12/2025
Fundamental / Economic Backdrop (short term)
Sterling remains sensitive to relative rate expectations and risk sentiment. Recent pricing implies a narrowing policy differential outlook between the Bank of England and the Federal Reserve, with markets attentive to inflation persistence in the UK and the pace of US disinflation. Near-t…
USDJPY 17/12/2025
Fundamental / Economic Backdrop (short term)
Short-term USDJPY price action continues to be driven by the interest rate differential between the US and Japan, risk sentiment, and expectations around central bank policy normalisation.The US dollar remains broadly supported by comparatively higher yields, though momentum has moderated …
EURJPY 17/12/2025
Fundamental / Economic Backdrop (short term)
EURJPY continues to be driven primarily by yield differentials and risk sentiment. In the near term, the euro side reflects relatively stable euro area data with limited upside momentum, while the yen remains structurally weak due to accommodative Bank of Japan policy and sensitivity to global risk cond…