GBPUSD

Week Ahead – Fed, ECB minutes to steer markets through brewing election and virus storm

Posted on October 2, 2020 at 10:02 am GMT

September turned out to be a rough month for equities but a good one for haven currencies as reality caught up with a runaway market. As we head into October, that heightened sense of caution looks set to prevail for a while longer amid intensifying anxiety about the US election and doubts about the sustainability of the global recovery. With not a lot on the economic agenda for the next seven days, jittery traders will be hoping that policymakers on [..]

Daily Market Comment – Markets tank as Trump tests positive for covid, nonfarm payrolls coming up

Posted on October 2, 2020 at 8:55 am GMT

Equities sink, dollar jumps as President Trump gets coronavirus How does this affect election dynamics? Is Biden bad for markets? Sterling trades like a pinball machine amid conflicting Brexit headlines US jobs report is the main event today, European inflation data too Trump throws markets into disarray Global markets are tanking on Friday after US President Trump confirmed he has tested positive for covid-19, injecting another dose of uncertainty into election dynamics. Wall Street futures were already flashing red because [..]

Daily Market Comment – US presidential debate rattles equity markets

Posted on September 30, 2020 at 9:13 am GMT

Stocks edge lower after debate as Trump keeps door open to contest result Otherwise, not much to move the needle in this race Focus now turns back to stimulus talks that will resume today Euro advances, but can it keep going if euro area stays in deflation? Presidential debate leaves markets wanting Uncertainty about the election outcome seems to have intensified after the first debate between Donald Trump and Joe Biden, which yielded no clear winner as both men landed [..]

Technical Analysis – GBPUSD pulls back towards 38.2% Fibonacci; bullish in medium term

Posted on September 29, 2020 at 7:05 am GMT

GBPUSD has finally reversed to the upside after the rebound on the 38.2% Fibonacci retracement level of the up leg from 1.1409 to 1.3487 at 1.2693 and the 100-day simple moving average (SMA). However, the downward movement that started at the beginning of September, may not change unless the market manages to crawl substantially above the 1.3000 psychological mark. The momentum indicators are currently supporting that slightly positive momentum in the very short-term. Specifically, the RSI is picking up speed in the negative territory and the MACD is moving with weak momentum beneath its [..]

Daily Market Comment – Equities storm back on fiscal hopes

Posted on September 28, 2020 at 9:21 am GMT

Risk appetite improves on hopes that US fiscal deal isn’t entirely dead Dollar climbs despite rebound in stock markets – European worries? Too early to say turbulence is over, but broader path seems bright For now, all eyes are on the Trump-Biden debate and Brexit talks Markets feel the blues in September Global markets have been thrown into turmoil in recent weeks, as a perfect storm of bad news provided a reality check for investors. America is running out of [..]

Week Ahead – Markets feel the blues ahead of US employment report

Posted on September 25, 2020 at 12:00 pm GMT

A perfect storm of bad news has thrown global markets into disarray. America is running out of stimulus, fears of a constitutional crisis after the election are running rampant, Europe is wrestling with a second virus wave, and central banks have moved from ‘all in’ to ‘check’ in poker terms. Considering all this, the upcoming US employment report could be a make-or-break event for the dollar and equities. In the political arena, Brexit talks will resume in Brussels while Trump [..]

Daily Market Comment – Stimulus talks calm market nerves; dollar eases

Posted on September 25, 2020 at 9:01 am GMT

White House and Democrats restart stimulus talks, stocks come back to life But virus resurgence and slowing recovery continue to weigh on markets Dollar off highs, pound and aussie bounce back, but euro adrift Mnuchin-Pelosi talks revive fiscal stimulus hopes Fresh efforts to break the stalemate in the negotiations for a new virus relief bill in the United States have provided a much-needed boost to sentiment in a week where markets have been struggling to find anything to cheer about. [..]

Technical Analysis – GBPUSD creeps towards downtrend line; bearish bias unbroken

Posted on September 25, 2020 at 7:54 am GMT

GBPUSD has pushed off the mid-Bollinger band and above the 1.2780 barrier, making efforts to test the downtrend line drawn from the 8½-month high of 1.3481. That said, traders need to keep in mind the dictating negative bearing of the simple moving averages (SMAs), as they may assist the deteriorating picture. The short-term oscillators reflect the stall in the bearish structure and mirror prices’ endeavours towards the diagonal line. The MACD, in the negative region, is improving above its red [..]

Daily Market Comment – Stocks dive again as recovery in doubt; dollar stands tall

Posted on September 24, 2020 at 9:10 am GMT

Global equities follow Wall Street lower as fears of major winter wave mount Fed’s call for more fiscal stimulus falls on deaf ears Dollar trounces rivals, commodity currencies sink Stocks slump as optimism fades Rising pessimism about the prospect of a swift economic recovery from the pandemic dragged down equities on Thursday. The rout in global stock markets follows a sharp slide on Wall Street on Wednesday when the Nasdaq Composite plunged by 3% and the S&P 500 lost 2.4%. [..]

Daily Market Comment – Dollar climbs as virus gloom deepens

Posted on September 23, 2020 at 8:54 am GMT

Dollar extends gains as recovery prospects falter on virus resurgence Wall Street rebound fails to set markets alight Euro sags after poor PMIs; pound sinks on new virus curbs Rate cut expectations pummel aussie and kiwi Dollar shines as storm builds over global economy Markets were struggling to put up a positive front on Wednesday as the worsening virus outlook in Europe and the fading prospect of additional fiscal stimulus in the United States heightened recessionary fears. The stimulus-infused risk [..]

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