Trading insights: EUR/USD, GBP/USD extend losses, oil prices rise

Trading insights: EUR/USD, GBP/USD extend losses, oil prices rise

Oil prices have extended gains as supply shortages overshadow recession risks. EUR/USD, GBP/USD break support while stock indices attempt to pause their retreat. Here's what's driving markets.

US Dollar strengthens with Evergrande's default pressurising stocks

Chinese property giant Evergrande's default places additional pressure on stocks. Oil prices dip while US treasury yields remain at 2007 levels, supporting USD strength.

Trading insights: USD/JPY, EUR/JPY climb with dovish BoJ

Bank of Japan made the decision to keep rates in negative territory earlier today, bolstering the EUR/JPY and USD/JPY currency pairs

Trading insights: Strong USD drives GBP lower ahead of BoE

A hawkish Federal Reserve has allowed the USD to strengthen, placing pressure on US30, SPX500 and US100. GBP/USD falls as the Bank of England prepares for the rate decision at 11:00 UTC.

Fed decision in focus, UK inflation weighs on GBP/USD, Gold prices range bound

The FOMC meeting is on today's agenda which has been a driving force for higher yields and USD strength. With UK inflation driving GBP/USD lower prior to the BoE rate decision tomorrow, European indices have strengthened while gold prices remain in a tight range.