GBPUSD

Flurry of UK data due as pound grapples with rate cut risks – Forex News Preview

Posted on January 10, 2020 at 12:30 pm GMT

It’s a busy data week in the UK, with GDP numbers for November hitting the markets on Monday at 09:30 GMT, before inflation figures on Wednesday and retail sales on Friday. The pound seldom reacts to economic data nowadays, but that may change now that the Bank of England (BoE) is considering cutting rates. In fact, markets may be underpricing the possibility of a rate cut, implying that the risks surrounding the pound may be tilted to the downside from [..]

Week Ahead – US and China set to seal Phase One deal ahead of Chinese Q4 GDP release

Posted on January 10, 2020 at 11:42 am GMT

The United States and China will finally put pen to paper on the hard-fought ‘phase one’ deal on January 15, ending months of trade uncertainty and hostilities. However, it will be too early for the ebb in trade tensions to have benefited China’s export-heavy economy in the fourth quarter and GDP numbers due out of the country will likely leave markets underwhelmed. It will be an important data week in the UK and US as well, with monthly industrial output, [..]

Daily Market Comment – US stocks carve out new highs ahead of Nonfarm Payrolls

Posted on January 10, 2020 at 10:10 am GMT

Wall Street hits new records and US jobs data today may add fuel to the rally Canada’s employment figures also due – asymmetric risk for loonie? Pound drops on dovish BoE comments and may still have some way to go Nonfarm payrolls: More fuel for stocks? The main event today will be the US employment report for December. Nonfarm payrolls (NFP) are forecast to clock in at 164k, less than the astounding 266k in November, but still a solid number [..]

Daily Market Comment – Oil crashes, stocks roar higher as geopolitical nerves calm

Posted on January 9, 2020 at 9:58 am GMT

Yen and gold slump, equities jump as US-Iran tensions take a back seat Dollar outperforms amid fading Fed rate-cut expectations – lots of Fed speakers today In Canada, BoC Governor Poloz delivers remarks and might strike a dovish tone Oil collapses alongside safe havens as worries of US-Iran war fade Global markets continued to price out the risk of an imminent all-out war between the US and Iran yesterday, amid signs that neither side is seeking further escalation. The fact [..]

Daily Market Comment – Iran attacks US bases, but risk aversion doesn’t last

Posted on January 8, 2020 at 9:40 am GMT

Safe havens spike higher, stocks drop as Iran hits US bases in Iraq Yet, risk aversion fades as both sides show little appetite for more escalation Meanwhile, dollar advances on healthy US data, aussie burned by wildfires Oil and gold jump, stock futures briefly dip after Iran strikes back Tehran didn’t take long to retaliate against the US assassination of its most powerful general, as overnight Iran attacked with ballistic missiles two military bases in Iraq that are hosting American [..]

Daily Market Comment – Geopolitical fears ease, but risk sentiment remains fragile

Posted on January 7, 2020 at 9:47 am GMT

Safe havens pull back, stocks recover as some geopolitical risk is priced out Alas, it might be only a matter of time before Middle East fears resurface – how will Iran retaliate? In economics, the ISM non-manufacturing PMI today may prove crucial for the dollar Yen retreats, stocks rebound as Middle East worries ease – for now Global risk appetite improved on Monday, with defensive currencies such as the Japanese yen surrendering some recent gains while US stocks recovered lost [..]

Technical Analysis – GBPUSD cautiously positive despite weakened directional momentum

Posted on January 7, 2020 at 9:42 am GMT

GBPUSD looks to be undecided with its recent lower highs and higher lows. That said, buyers are attempting to drive the pair back up in efforts to realign with the bigger positive outlook. The short-term oscillators suggest a stall in directional momentum but lean towards the positive picture. The MACD, in the positive zone is marginally above its red trigger line, while the RSI is rising, slightly above its neutral mark. Noteworthy, are the upward sloping simple moving averages (SMAs) [..]

Daily Market Comment – Oil jumps, Mideast tensions rise after US air strikes kill Iranian commanders

Posted on January 3, 2020 at 9:15 am GMT

Tensions flare up in the Middle East after US air strikes kill Iran’s top military leader Oil prices shoot higher, stocks turn negative after the attacks Gold hits 4-month high, yen and Swiss franc soar US air strikes kill risk-on mood Heightened geopolitical tensions threatened to destroy the risk-on sentiment that’s been driving the markets since December after the United States launched air strikes in Iraq, killing top Iranian military officials. The US Defense Department said President Trump had ordered [..]

Daily Market Comment – Stocks start new year on positive note; dollar recoups some losses

Posted on January 2, 2020 at 9:36 am GMT

Policy easing in China lifts stocks in Asia on first trading day of the year But as stocks extend their rally, in FX markets, most majors pull back against the dollar Gold edges up towards 3-month highs amid some tensions in Middle East and North Korea Quiet start to new year The new year got off to a subdued start with equity markets extending their incredible rally of 2019 and little new developments to rattle currency markets. But with Japanese [..]

Daily Market Comment – Gold levitates higher, Wall Street and dollar retreat

Posted on December 31, 2019 at 9:31 am GMT

Gold freight train rolls past $1520, fueled by decline in dollar & Treasury yields US stocks pull back despite positive trade news – will Trump target the EU next? Have a great New Year! Gold extends gains on weaker dollar, lower yields A broad-based decline in the US dollar remains the dominant theme in the holiday-thinned FX market, even in the absence of any noteworthy headlines. The retreat in the greenback is ‘lifting all boats’, with the New Zealand dollar [..]

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