GBPUSD

Daily Market Comment – Investors brace for Biden’s stimulus plan

Posted on January 14, 2021 at 9:53 am GMT

US President-elect Biden will unveil his stimulus proposal today Size and details of the plan crucial for fate of dollar and equities Markets quiet overall waiting for Biden, ignore Trump impeachment Fed chief Powell speaks, ECB minutes coming up, Italian politics eyed Dollar’s fortunes hang on Biden’s proposal The main event today will be the unveiling of incoming US president Biden’s stimulus plan. The overall price tag of the package will likely be the main variable for markets, but the [..]

UK GDP likely sank again in November but Bailey and vaccines give pound a lift – Forex News Preview

Posted on January 13, 2021 at 3:03 pm GMT

UK economic output likely plummeted in November – figures out on Friday are expected to reveal (07:00 GMT) – after the country was plunged in a second lockdown. But things have only gotten worse since then as England has been forced into its third lockdown. However, the grim data will probably be seen as too out-of-date to have a material impact on the pound as traders look beyond the winter shutdowns and towards mass inoculations. With the UK leading the [..]

Daily Market Comment – Euro ignores Merkel’s warning of prolonged German lockdown

Posted on January 13, 2021 at 10:07 am GMT

Dollar retreats after Fed officials play down prospect of QE tapering Euro capitalizes on dollar’s woes, even as Merkel warns of extended lockdown Stock markets quiet, but crude oil continues impressive bull run US inflation data and Fed speakers today could set the tone Dollar retreats as Fed’s George plays down tapering The world’s reserve currency came back under selling pressure on Tuesday as Fed officials poured cold water on speculation around a withdrawal of their massive liquidity programs. The [..]

Technical Analysis – GBPUSD’s retraction unable to tilt appreciation scale

Posted on January 12, 2021 at 9:05 am GMT

GBPUSD continues to echo a positive tone despite recently retreating from a fresh 32-month high of 1.3703. The rising red Tenkan-sen line is suggesting positive momentum is growing, while the flattening blue Kijun-sen line is indicating that the ascent is under stress. Nonetheless, the advancing simple moving averages (SMAs) are defending the bullish picture. Furthermore, the short-term oscillators are conveying a pickup in positive sentiment. The MACD remains some distance above the zero line despite weakening slightly below its red [..]

Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 10:27 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]

Technical Analysis – GBPUSD positively skewed despite recent consolidation

Posted on January 8, 2021 at 12:00 pm GMT

GBPUSD is consolidating into the Ichimoku cloud after its recent retreat from the newly formed 32-month peak. The bias still seems to be favouring the upside although positive momentum is looking somewhat strained. Furthermore, the commanding bullish simple moving averages (SMAs) are overall preserving the positive structure in spite of the minor stalling in the 50-period SMA. The short-term technical oscillators are transmitting signals of growing bullish sentiment, promoting an optimistic outcome. The MACD is marginally below its red trigger [..]

Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

Technical Analysis – GBPUSD tops at 1.3700 in the first trading day of 2021

Posted on January 4, 2021 at 10:09 am GMT

GBPUSD stretched its rally to a fresh 32-month high of 1.3700 in the first trading day of 2021, but it continues to face limitations around the topline of the upward-sloping channel, which it failed to successfully overcome last week. Technically, the short-term bias remains on the positive side in the daily chart as the price keeps printing higher highs and higher lows above its simple moving averages (SMAs) and the Ichimoku Cloud. In momentum indicators, the MACD is regaining ground above its red [..]

Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 10:00 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

No post-deal rally for the pound as Brexit negotiations far from over – Special Report

Posted on December 29, 2020 at 1:59 pm GMT

Britain and the European Union have just agreed on a post-Brexit relationship – including, of course, on trade – ending more than four years of uncertainty and political drama. However, with negotiators having less than 12 months to strike a deal, it was never going to be possible to achieve anything more than a bare minimum accord. Thus, those hoping that the world can now finally move on from the Brexit soap opera may be disappointed to learn that there [..]

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