GBPUSD

Q4 UK GDP growth may not move the pound much on Tuesday – Forex News Preview

Posted on February 10, 2020 at 12:49 pm GMT

Despite last week’s upbeat business data, the pound could not gain buying traction thanks to the dollar’s strength and rising concerns about how the UK-EU trade negotiations will develop later in the year. On Tuesday at 09:30 GMT, preliminary GDP growth readings for the final quarter of 2019 and December’s industrial production data will come out of the UK but the figures may prove unable to boost the British currency as traders are shifting attention to new year’s numbers. Upbeat PMIs [..]

Daily Market Comment – ‘King dollar’ continues its reign after solid jobs data

Posted on February 10, 2020 at 10:16 am GMT

Dollar cruises higher after strong payrolls push back expected timing of Fed cuts Yet, stocks struggle for altitude, yen climbs as virus fears remain in play Aussie breaks 11-year low, but quickly bounces back The world’s reserve currency shined once again on Friday, after US payrolls for January exceeded estimates, prompting traders to push back the expected timing of the next Fed rate cut. Nonfarm payrolls rose by 225k, smashing the forecast for a 160k increase and signaling that the [..]

Week Ahead – RBNZ meeting, US retail sales and UK GDP to headline muted week

Posted on February 7, 2020 at 11:14 am GMT

As markets enjoy a bit of bounce back from the panic selling triggered by the outbreak of the deadly coronavirus, traders may struggle to keep the momentum going over the next seven days as things quieten down a little on the data front. Industrial production numbers out of the Eurozone, the United States and the United Kingdom will be the main release, though the focus will be on fourth quarter GDP estimates for the UK and on the latest retail [..]

Daily Market Comment – Risk aversion creeps in as virus death toll jumps

Posted on February 7, 2020 at 9:27 am GMT

Equities rally fades as spread of coronavirus shows no sign of slowing Yen edges up but dollar also holds firm ahead of US jobs report Pound set for large weekly losses amid Brexit brinkmanship Virus fears intensify; risk rally loses steam The relief rally sparked by China’s efforts to contain the coronavirus and support its economy appeared to run out of steam by the end of the week as most major stock indices in Asia turned red on Friday. Futures [..]

Daily Market Comment – US stocks extend bull run as China cuts tariffs, Trump gets acquitted

Posted on February 6, 2020 at 9:29 am GMT

Global stocks continue to rally on upbeat US data and as virus fears ease Risk-on further aided after China cuts US tariffs and President Trump gets acquitted Dollar climbs to 2-month highs, yen retreats Unstoppable Wall Street scales fresh records A string of positive developments added further impetus to the rebound in global stocks on Thursday, as the recovery extended into a third day. Global stock markets plunged last week with China playing catch up on Monday as fears about [..]

Daily Market Comment – Markets hold steady but virus risks linger; oil up as OPEC+ considers output cuts

Posted on February 5, 2020 at 9:33 am GMT

Stocks extend rebound but caution keeps gains in check Yen and gold edge back up as coronavirus death toll continues to rise OPEC+ holds technical meeting to discuss fresh cuts to output amid virus impact Markets remain calm but growth worries persist This week’s cash injection by Chinese authorities and pledges of additional stimulus if needed to stabilize the economy from the disruptions caused by the coronavirus outbreak helped maintain calm in financial markets on Wednesday. Stocks in Asia headed [..]

Daily Market Comment – Stocks steadier as China tries to calm markets; dollar up on ISM beat

Posted on February 4, 2020 at 9:28 am GMT

Chinese shares recoup some losses as authorities attempt to stem sell-off Dollar lifted by surprise pickup in US manufacturing activity Pound extends losses as UK and EU clash on post-Brexit trade arrangements Asian stocks turn green but virus fears persist Stocks in Asia took a breather from yesterday’s steep sell-off as Chinese authorities stepped in to limit the fallout from the worsening outbreak of the coronavirus, as the death toll continues to rise. A massive injection of liquidity by China’s [..]

Technical Analysis – GBPUSD plunges below 1.3000; lacks direction in near term

Posted on February 4, 2020 at 7:53 am GMT

GBPUSD tumbled on Monday, falling back below the 1.3000 handle and the short-term moving averages (SMAs) in the daily timeframe. The price is flirting with the five-month ascending trendline, aiding in confining the price within a sideways move and dropping below the nearby low levels. However, the technical indicators are signaling a lacking direction. The RSI is flattening marginally below the 50 level, while the MACD oscillator is moving sideways near its trigger and zero lines over the last three weeks. Moreover, the horizontal moving averages are implying a [..]

Daily Market Comment – Chinese stocks fall apart, but currencies take a breather

Posted on February 3, 2020 at 10:04 am GMT

Equities in China fall ~8%, but broader market stabilizes after Friday’s selloff Recession fears reignite, pushing dollar down as Fed rate cuts are priced in Pound drops as Boris ‘talks tough’ – prelude of things to come? US Democratic primary begins, will Bernie Sanders spook stocks? Chinese equities disintegrate, despite PBoC rate cut The coronavirus theme continues to torment financial markets, with Chinese stocks closing lower by almost 8% today, on their first day back from holidays. The losses [..]

Daily Market Comment – Aussie tanks on virus worries; Pound flies as BoE holds

Posted on January 31, 2020 at 9:42 am GMT

Stocks stage major comeback as investors brush aside virus fears However, aussie and kiwi tell a different story – both drop substantially Is the Fed’s ‘not QE’ responsible for the divergence between stock and bond/FX markets? Pound roars higher as BoE keeps rates unchanged Stocks recover, as health officials soothe contagion concerns The market’s rollercoaster ride continued Thursday, with US equities recovering substantial losses to close into the green, even though earnings from heavyweight tech players like Facebook (-6.1%) and [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms