GBP grind higher extends – Scotiabank

Cable has advanced steadily over the course of the Asian and European sessions to near 1.35 after UK Retail Sales rose 0.5% in July, a little better than the expected 0.3% M/M gain, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

GBP overlooks Retail Sales revisions

"However, overall retail sales activity so far in 2025 was weaker than previously reported, due to an error in seasonal adjustments, the ONS reported. Sterling gains have extended through the 40– and 100-day MA signals over the past two sessions, putting spot within reach of recovering to the 1.35 area."

"Regaining the recent peaks around 1.3545/50 would confer a little more strength on the technical outlook and put the pound on track to test major resistance at 1.3595/00. Support is 1.3440."

Sep 5, 2025

China to import (even) more gas from Russia in future – Commerzbank

At the meeting between Russian President Putin and his Chinese counterpart Xi, both countries agreed on higher gas deliveries in future. On the one hand, deliveries via existing pipelines are to be increased, Commerzbank's commodity analyst Barbara Lambrecht notes.

WGC wants to introduce digital Gold – Commerzbank

The World Gold Council (WGC) has presented a new idea aimed at modernizing the Gold market. According to this idea, there are plans to introduce a form of digital Gold, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.