GBPUSD

Technical Analysis – GBPUSD forms strong bullish tendency but stands below 8-month peak

Posted on August 25, 2020 at 7:05 am GMT

GBPUSD is holding beneath the eight-month high of 1.3270 that it reached on August 19, but the outlook remains strongly bullish above the ascending trend line from March 20. The price is currently capped by the 20-day simple moving average (SMA), finding some difficulty to surpass this line, and the RSI indicator is turning slightly higher in the positive area. However, the MACD oscillator is still heading down below its trigger line in the short-term. The Ichimoku lines are pointing [..]

Daily Market Comment – Virus ‘breakthrough’ lifts stocks; dollar awaits Powell speech

Posted on August 24, 2020 at 9:00 am GMT

Markets start week on positive note amid progress on Covid-19 treatment and vaccine Dollar holds firm as investors gear up for Powell’s big Jackson Hole speech Euro and pound left reeling after data shock and Brexit blow Virus optimism leads equities higher Markets have started the week on a cheery note as news that President Trump has authorized the emergency use of plasma treatment for Covid-19 patents and is considering fast tracking a UK vaccine before the election boosted sentiment. [..]

Daily Market Comment – Dollar gets a second wind after bleak Eurozone PMIs

Posted on August 21, 2020 at 8:49 am GMT

Vaccine news from Pfizer boost sentiment, more records for Nasdaq Dollar can’t find much love amid risk-taking mood But how long can the market ignore Europe’s second wave? Perhaps not long, as the Eurozone’s PMIs provide a reality check Dollar feels the ‘risk on’ blues There’s no love for the US dollar out there. The reserve currency remained on the back foot on Thursday, surrendering some of the gains it posted after the FOMC minutes played down the prospect of [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 9:18 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

Sterling flies ahead of key PMI and retail sales data – Forex News Preview

Posted on August 18, 2020 at 4:08 pm GMT

After a historic collapse in economic output in the second quarter, the United Kingdom will likely enjoy a more cheerful set of data on Friday. Retail sales numbers for July are due at 06:00 GMT, to be followed shortly after by the IHS Markit/CIPS flash PMI readings for August at 08:30 GMT. Ahead of those releases, the July inflation prints will hit the markets at 06:00 GMT on Wednesday, though these are expected to have less of a bearing on [..]

Technical Analysis – GBPUSD appreciates, targeting durable resistance border

Posted on August 18, 2020 at 8:13 am GMT

GBPUSD is in the process of re-examining the toughened resistance zone from 1.3185 – 1.3211, which has been keeping advances at bay. The strengthening 50- and 100-day simple moving averages (SMAs) and the recent bullish crossover of the 200-day SMA by the 50-day one, suggest further gains may unfold. Glancing at the short-term oscillators, they reflect a pickup in positive momentum. The MACD, some distance in the positive region, is holding below its red trigger line and appears it could [..]

Week Ahead – Vaccine hopes torment yen, all eyes on Congress

Posted on August 14, 2020 at 11:48 am GMT

It’s a relatively quiet week, with the main highlights being the Eurozone’s PMIs and the latest FOMC minutes. In the political arena, American and Chinese negotiators will meet over the weekend to review the ‘phase one’ trade deal. For markets though, the most crucial drivers will be whether US lawmakers can break the deadlock in the stimulus negotiations, and whether enthusiasm around a vaccine will keep pushing global yields higher, crushing the yen. Will markets have to scream first, before [..]

Technical Analysis – GBPUSD extends recess of positive bias

Posted on August 14, 2020 at 9:28 am GMT

GBPUSD has been edging sideways in the Ichimoku cloud for the last week, after retreating from the recent five-month high of 1.3185, just shy of the key 1.3200 peak from March 9. The Ichimoku lines and the flattened 50-period simple moving average (SMA) reflect this horizontal tone within the pair. Nonetheless, the SMAs continue to convey a prevailing positive orientation, while the short-term oscillators exhibit efforts to improve positive momentum. The MACD and its red trigger are pointing upwards slightly [..]

Daily Market Comment – Dollar firms, stocks muted amid stalled stimulus talks, soft China data

Posted on August 14, 2020 at 9:00 am GMT

Hopes fade for a quick stimulus deal in the US as Congress leaves town Weaker-than-expected Chinese data adds to recovery worries Dollar pulled from lows as subdued tone weighs on stocks Stalemate on Capitol Hill A deal on a new coronavirus relief package looked increasingly out of reach as US Senators left Washington for the summer recess, pushing the likely timing of an agreement to September when both houses return. A last-ditch attempt on Wednesday to resume talks went nowhere [..]

Daily Market Comment – Dollar slips as no stimulus deal in sight yet; Gold pares losses

Posted on August 13, 2020 at 8:34 am GMT

US Treasury yields fall back as Washington no closer to reaching stimulus deal Dollar retreats, helping gold recover some losses; stocks subdued US data, China trade talks on markets’ radar for the next few days Talks on virus relief bill stumble again The Trump administration and Democrats appear no closer to finding a compromise deal on a new virus relief package as the latest efforts to kick start the negotiations prove fruitless. Talks between the two sides have been at [..]

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