GBPUSD

UK may show record growth in Q3 but the worst is not over yet – Forex News Preview

Posted on November 9, 2020 at 5:27 pm GMT

The anxiety of the US election is almost over and the focus will shift back to the economic calendar this week, with the UK releasing employment data for September on Tuesday at 06:00 GMT and GDP growth figures for the third quarter on Thursday at the same time. Expectations are for a record economic expansion and another increase in the unemployment rate, though Brexit developments may steal the show instead, reminding markets that the worst is not over yet, as [..]

Daily Market Comment – Stocks resume furious rally as Biden wins

Posted on November 9, 2020 at 12:09 pm GMT

US election ‘aftershocks’ continue – equities roar higher, dollar slips Several theories floated to justify this relentless rally, but question is, can it last? Markets may revert to trading covid news and prospect of fiscal package Crunch time in Brexit talks too, traders seem confident a deal is coming US stocks back near record highs It’s official. Joe Biden was declared the new president-elect of the United States over the weekend, injecting another dose of optimism into global markets even [..]

Technical Analysis – GBPUSD’s hike ceases around upper Bollinger band

Posted on November 6, 2020 at 1:30 pm GMT

GBPUSD is consolidating beneath the 1.3175-1.3183 limiting border after surging off the 200-period simple moving average (SMA) and above the 50- and 100-period averages. The fairly horizontal bearing of the SMAs are promoting the neutral picture. That said, the price is currently near the upper Bollinger band and is showing some signs of weakness. The short-term oscillators reflect the stall in positive price action. The MACD is in the positive region and above its red trigger line but looks to [..]

Week Ahead – The calm after the US election storm

Posted on November 6, 2020 at 12:31 pm GMT

It’s a relatively quiet week coming up for global markets as the election dust settles. The main event will be the RBNZ policy meeting, though frankly, the real driver for most currencies and stocks may be the ‘aftershock’ effects of the election. There’s also a slew of economic data, the Brexit adventure continues, and the earnings season winds down. There’s no keeping this market down No ‘blue wave’ in the US election? No problem. This was essentially the market response [..]

Daily Market Comment – Biden leads as Trump begins legal fight; dollar eases, stocks surge

Posted on November 5, 2020 at 9:56 am GMT

Biden edges closer to the White House but faces legal battles as Trump not giving up Markets undaunted by election stalemate, see good and bad in all outcomes Dollar near lows as Treasury yields extend slide, stocks shine in post-election rally Pound lifted by fresh BoE stimulus; less room for surprises by the Fed World holds breath in tightest election race ever Democratic nominee Joe Biden was one state away from victory early on Wednesday as counting continued across the [..]

Bank of England set to boost QE as lockdown and Brexit cause economic havoc – Forex News Preview

Posted on November 4, 2020 at 10:38 am GMT

The Bank of England will conclude its latest policy meeting on Thursday, announcing its decision at 07:00 GMT. As it’s November, the Bank will also be publishing its quarterly Monetary Policy Report alongside the meeting minutes. But while a virtual press conference is pencilled in too, it will be pre-recorded and released at 09:15 GMT, as has become the customary practice for the BoE during the pandemic. Following the UK government’s decision to place England under a month-long lockdown, it’s [..]

Daily Market Comment – Dollar firms, stocks rattled as US election too close to call

Posted on November 4, 2020 at 9:14 am GMT

Anxious wait for election outcome as race much tighter than anticipated Dollar and yen creep higher as election uncertainty mounts Stocks steady until Trump threatens to block mail-in ballot counting Trump closes in on Biden; might be a long wait The race for the White House is proving tighter than many had anticipated and certainly more than what the opinion polls had indicated as incumbent President Trump wins in several battleground states. As of 09:00 GMT, Trump had secured the [..]

Daily Market Comment – Dollar slips, stocks rally as world awaits next US president

Posted on November 3, 2020 at 9:58 am GMT

Few signs of market jitters on Election Day despite uncertainty about outcome Strong manufacturing data help ease virus fears, stocks bounce back Dollar retreats from highs, aussie shrugs off rate cut to turn higher Biden still in the lead, Trump talks legal action Americans go to the polls today to vote for the next president of the United States following a chaotic election campaign amidst a global pandemic. Most final polls ahead of the election put Democratic candidate Joe Biden [..]

Technical Analysis – GBPUSD finds a pivot point but will it turn up?

Posted on November 3, 2020 at 8:43 am GMT

GBPUSD corrected backwards and below its shorter-term simple moving averages (SMAs) and the Ichimoku cloud, but the strong ascending trendline from May’s low of 1.2074 was there once again to support the market. The price printed a bullish hammer candlestick at that point on Monday, and it remains to be seen if it can stage an upside reversal in the coming sessions as the momentum indicators are somewhat conflicting at the moment. The RSI is beneath its 50 neutral mark, though marginally, [..]

Daily Market Comment – Upbeat China PMI lifts mood but dollar holds firm

Posted on November 2, 2020 at 9:42 am GMT

Stocks edge up as Chinese manufacturing rebound gathers pace in October But dollar maintains gains as US election and Fed meeting lurk around the corner Pound slips as England back in lockdown, aussie down ahead of RBA Calm before the storm? Equities got off to a somewhat positive start on Monday as stronger-than-expected manufacturing PMI data out of China provided investors with some respite from the doom and gloom of the pandemic. A quickening in Chinese manufacturing activity in October [..]

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