GBPUSD

Daily Market Comment – Markets plummet as second wave fears grip investors

Posted on June 12, 2020 at 8:56 am GMT

Worries of a second infection wave kill the euphoria in markets S&P 500 loses almost 6%, dollar and yen shine again, commodity currencies crumble But risk sentiment back on the mend Friday, with most moves retracing a little Just a mild correction or start of something bigger? Daily virus numbers might decide that Risk aversion returns with a vengeance Just when it seems that all the bears have capitulated and that stock markets can’t bleed anymore, risk sentiment falls apart [..]

Flurry of UK data eyed, can the pound keep going? – Forex News Preview

Posted on June 11, 2020 at 10:28 am GMT

A flurry of UK data including GDP numbers for April will hit the markets at 06:00 GMT on Friday, and forecasts point to abysmal readings. Yet, economic data hardly move the markets anymore, so the pound’s performance will likely be shaped by a combination of Brexit news and global risk sentiment. The risks surrounding the currency seem tilted to the downside, though any potential losses may be more visible against the resurgent euro, not so much against the dollar that’s [..]

Daily Market Comment – Nasdaq rips higher ahead of Fed decision, dollar in agony

Posted on June 10, 2020 at 8:42 am GMT

No action expected from Fed today, but signals will determine whether the ‘risk party’ can keep going Dollar extends losses ahead of rate decision, Nasdaq hits new record high Sinking greenback raises all other boats – euro, pound, franc, and commodity currencies near highs We’ll also hear from key ECB and BoE officials, and the EU’s top Brexit negotiator Markets take a breather ahead of the Fed Risk appetite cooled a little on Tuesday in a move that generally looked [..]

Daily Market Comment – Stocks back in the black, dollar selling takes a breather

Posted on June 9, 2020 at 10:28 am GMT

S&P 500 recoups all its losses for the year, Nasdaq hits new record Optimism echoed in FX too, with dollar struggling as commodity currencies hit multi-month highs However, we are seeing a reversal of these moves today – some profit taking? Looking ahead, much will depend on what the Fed does and whether a second wave hits the US S&P turns flat for 2020, Nasdaq cruises to new highs Fear has given way to greed in an impressive way over [..]

Technical Analysis – GBPUSD ticks above 200-SMA but bulls hit new resistance

Posted on June 9, 2020 at 7:17 am GMT

GBPUSD finished Monday’s session slightly above the 200-day simple moving average (SMA) following last week’s roller coaster which put the strong rebound from 35-year lows back into life. Whether the pair could push for more gains depends now on the 1.2760 resistance which is currently under examination. Should it give way, the rally could get more legs towards the 1.2850 barrier, while higher, there is a tougher wall standing around 1.2975 which the bulls need to pull down in order to accelerate [..]

Week Ahead – Recovery hopes to remain front and centre as Fed to sit out June meeting

Posted on June 5, 2020 at 1:07 pm GMT

As global markets set their sights on a quick recovery from the COVID-19 crisis, key economic data for April – when the pandemic impact is thought to have peaked – will likely be sidelined next week. The Federal Reserve might also struggle to attract the usual attention when it holds a scheduled meeting as investors are not anticipating any new policy action. But as safe havens like the dollar and yen give way to virus-battered currencies, there are plenty of [..]

Technical Analysis – GBPUSD spikes above 1.2600 but returns some gains

Posted on June 5, 2020 at 11:08 am GMT

GBPUSD spiked towards a three-month high of 1.2705 but it finished the session below the 1.2645 barrier on Thursday. The upside rally which started after the rebound on the 1.2075 support could take a breather in the near term as the momentum indicators are suggesting a pullback. The RSI is edging south below the 70 level, while the MACD is holding beneath its red trigger line. A declining move could find immediate support at the flat red Tenkan-sen line around 1.2590 and the 20-period simple moving average (SMA) at [..]

Daily Market Comment – Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

Posted on June 5, 2020 at 8:31 am GMT

Euro skyrockets after ECB increases pandemic stimulus by more than expected Dollar stuck in a downward spiral, unlikely to be saved by US jobs report Oil clings on to gains despite OPEC confusion ECB takes out the bazooka again The resurgent euro, which has been rallying on the back of recovery hopes for the Eurozone economy, got another shot in the arm on Thursday after the European Central Bank delivered a bigger-than-expected stimulus. The ECB boosted its pandemic emergency purchase [..]

Daily Market Comment – Dollar steadies as stocks pause rally; euro eyes ECB stimulus

Posted on June 4, 2020 at 8:33 am GMT

Dollar regains some positive footing as risk rally eases Euro takes a breather ahead of ECB decision Oil pulls back amid doubts about OPEC+ extending output cuts Dollar fights to end losing streak as stocks lose steam The US dollar fought back on Thursday to retain its reign over FX markets, which has come under threat over the past week as rising optimism about the global economy recovering from the pandemic has revived risk assets. The dollar index, which measures [..]

Daily Market Comment – Dollar slumps as recovery hopes gather pace

Posted on June 3, 2020 at 8:38 am GMT

Increasing optimism of strong economic recovery pummel the dollar Yen loses shine too, but gold holds within range as US and China risks linger Loonie nears 3-month high as BoC and OPEC+ decisions eyed Markets shrug off US unrest, look to recovery After a brief scare on Tuesday, it didn’t take long for risk appetite to get back into full mode as investors largely ignored growing unrest in the United States to instead focus on the increasing signs that a [..]

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