GBPUSD

UK retail sales and flash PMIs in focus; will post-election bounce speed up or falter? – Forex News Preview

Posted on February 18, 2020 at 3:58 pm GMT

As the UK debates whether to open the fiscal taps, economic data is likely to return to the headlines on Thursday and Friday, with investors hoping to see more signs of a turnaround from the latest retail sales and flash PMI numbers. Retail sales figures for January are due on Thursday at 09:30 GMT, while the preliminary PMIs for February will be released on Friday, also at 09:30 GMT. Talk of a fiscal stimulus, as well as comparatively better data [..]

Daily Market Comment – Apple profit warning rattles markets; gold edges up

Posted on February 18, 2020 at 9:34 am GMT

Apple Inc says it will miss revenue guidance due to China plant shutdown Stocks slide as Apple warning dashes hopes of quick rebound from virus fallout Gold hits 2-week high, oil declines on growing virus impact Pound under pressure as Britain talks tough on future trade deal with EU Markets get dealt reality check by Apple profit warning US tech giant, Apple Inc, issued a rare profit warning on Monday, saying it will miss its first quarter revenue guidance as [..]

Technical Analysis – GBPUSD retreats below 1.3000 and short-term SMAs

Posted on February 18, 2020 at 7:22 am GMT

GBPUSD is losing momentum below 1.3000, within a range that has been holding since the jump to a 14-month high of 1.3515 on December 13. Currently, the cable is developing beneath the 20- and 40-day simple moving averages (SMAs) confirming the weakening move in the market. The RSI indicator is marginally below the 50 level, while the MACD, having posted a bullish cross with its trigger line, keeps fluctuating in the bearish territory. More downside pressure could drive the pair towards the immediate support of 1.2960 and the [..]

UK wage growth could slow but the pound will not get scared – Forex News Preview

Posted on February 17, 2020 at 4:25 pm GMT

The UK is delivering its last employment report for 2019 on Tuesday at 09:30 GMT and forecasts are for softer prints which are likely to increase the odds for a rate cut, consequently triggering a downside correction in the pound ahead of a more important batch of data releases later in the week. The decline, however, may be limited as markets anticipate a more expansionary fiscal policy under the new minister of finance. Fiscal policy reduces the need for [..]

Daily Market Comment – Euro continues to suffer, pound jumps on fiscal hopes

Posted on February 14, 2020 at 2:00 pm GMT

‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]

Week Ahead – Flash February PMIs eyed as virus outbreak shows few signs of slowing

Posted on February 14, 2020 at 11:09 am GMT

The preliminary PMIs for February will take centre stage next week as they will provide the first insight into the possible impact of the coronavirus on the global economy. The flash releases in the Eurozone, Japan, the United Kingdom and the United States should reveal how businesses outside of China have been affected by the outbreak with the risk that runaway equity markets may be handed a tough reality check. In other data, Australian employment and Canadian and UK retail [..]

Daily Market Comment – Dollar capitalizes as euro crumbles; Risk aversion strikes back

Posted on February 13, 2020 at 9:51 am GMT

Euro/dollar and euro/franc sink to multi-year lows after weak data extinguish hopes of European recovery Pain train for euro may not be over, difficult to see what can turn this around Meanwhile, virus worries return to haunt stocks and commodity currencies as death toll jumps – yen shines Euro caves in under the weight of disappointing industrial data The world’s most traded currency pair continued its epic downfall yesterday, touching a low last seen in 2017 after a batch of [..]

Daily Market Comment – Stocks undeterred by Bernie win; RBNZ lifts kiwi

Posted on February 12, 2020 at 10:20 am GMT

US equities close at new highs as Powell confirms liquidity injections will continue Futures point to a higher open today as well, despite Bernie Sanders’ election victory Kiwi jumps as RBNZ abandons easing bias, signals an end to rate-cut cycle Wall Street sets more records, yen and gold retreat Financial markets continue to trade in a ‘risk-on’ manner as fears that the coronavirus will have a long-lasting impact on the global economy are gradually diminishing, thanks to a substantial slowdown [..]

Daily Market Comment – Wall Street hits new records, but beware of the Democratic primary

Posted on February 11, 2020 at 11:59 am GMT

Fading virus fears boost equities, but New Hampshire primary today poses risks Euro pummeled as markets price out prospect of a big German spending package Fed chief Powell testifies, ECB’s Lagarde and BoE’s Carney speak RBNZ rate decision coming up – a more dovish tone seems likely Stocks climb as virus fears fade, but how long until they ‘feel the Bern’? Concerns around the economic fallout of the coronavirus seem to be fading off the market’s radar, as the rate [..]

Technical Analysis – GBPUSD could explore more weakness below 1.2870

Posted on February 11, 2020 at 8:13 am GMT

GBPUSD is struggling to hold above the 1.2900 level and its previous low, having cracked below the Ichimoku cloud, with the bearish cross between the 20- and 50-day simple moving averages (SMA) adding concerns of a down-trending market. In the short-term, the bears could remain active according to the RSI, which remains below its 50 neutral mark, while the strengthening negative momentum in the MACD is another sign that the pair may keep facing downside pressure. For the sell-off to continue, sellers should clear [..]

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