GBPUSD

Technical Analysis – GBPUSD rebound may face challenge within nearby resistance area

Posted on December 31, 2019 at 8:36 am GMT

GBPUSD is pushing on with efforts to correct the sharp sell-off off the 1 ½-year high of 1.3513 which led to 1.2900 last week. The price has returned into the 1.3100 territory and is trying to expand above the 20-day simple moving average (SMA). However even though the RSI and the MACD are holding an upward direction, questions are arising as to whether the bulls are strong enough to overcome the 1.3146-1.3175 area, which includes the 23.6% Fibonacci of the [..]

FX Year Ahead 2020: Turnaround or same old blues? – Special Report

Posted on December 30, 2019 at 3:33 pm GMT

While 2019 was a turbulent year to be sure, every asset class still managed to end in the green, mainly thanks to central bank stimulus. In the FX space, the winners were the Canadian dollar and British pound, the US dollar was almost flat, while the euro underperformed. Looking into 2020, many risks still hang over the euro as the Eurozone is hardly growing, and while many strategists are calling for the dollar’s demise, that seems unlikely unless the Fed [..]

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:49 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

Week Ahead – Focus on manufacturing PMIs in subdued holiday week

Posted on December 27, 2019 at 2:01 pm GMT

The economic calendar will only marginally get busier in the coming week and trading volumes are not expected to pick up much as New Year celebrations get underway. However, key manufacturing gauges out of China and the United States could spoil the festive rally in equities as trade deal optimism continues to support risk assets heading into 2020. Meanwhile, in FX markets, the threat of another flash crash similar to the one seen in January 2019 will likely keep traders [..]

Daily Market Comment – Wall Street hits new highs for Christmas; gold gains too

Posted on December 24, 2019 at 9:21 am GMT

Dow Jones lifted by Boeing, aussie and kiwi follow stocks higher Sterling edges lower as Brexit worries persist Gold does its own thing again – swims against the risk-on tide US stocks close at fresh records; aussie and kiwi climb as well Another day, another record close for all three major US equity indices, this time with the Dow Jones (+0.34%) leading the pack. The price-weighted index was propelled higher by some gains in Boeing (+2.9%), which has the highest [..]

Technical Analysis – GBPUSD bears may keep ruling in short-term

Posted on December 24, 2019 at 8:19 am GMT

GBPUSD plummeted back to the 1.2900 territory and below its 20- and 50-day simple moving averages (SMAs), erasing all the election gains that drove the pair to a 1 ½ -year high of 1.3513. The short-term outlook keeps looking cloudy as the price has crossed below the middle Bollinger band but has yet to touch the lower band, while the RSI is also making its way down below its 50 neutral mark. Should the sell-off strengthen beneath the 1.2900 level that acted as support on Monday, the [..]

Daily Market Comment – Dollar recovers some poise, stocks hit new records

Posted on December 23, 2019 at 9:51 am GMT

Solid US data propel equities higher alongside the greenback Loonie stumbles as retail sales plunge, oil prices pull back Liquidity may remain thin overall, so any piece of news – or a tweet – might shake markets Dollar rebounds in quiet markets; stock rally in full swing It was a relatively quiet session in the FX market on Friday, as things started to wind down for the holiday season and news flow was thin. The overarching theme was an increased [..]

Daily Market Comment – Pound stumbles, franc and yen up as Johnson aims for hard Brexit

Posted on December 20, 2019 at 9:14 am GMT

Pound headed for large weekly loss as UK government pushes for speedy Brexit Hard Brexit fears support safe havens even as US and China move closer to signing trade deal US consumption and inflation data eyed before holiday lull Brexit moves closer to reality, unnerves markets UK Prime Minister Boris Johnson used his post-election Queen’s speech yesterday to unveil his Brexit agenda and reintroduce the Withdrawal Agreement bill to Parliament with some changes. The revised bill has all the indications [..]

Daily Market Comment – Dollar shrugs off Trump impeachment; aussie jumps on upbeat jobs data

Posted on December 19, 2019 at 9:03 am GMT

Dollar unfazed from US House vote to impeach Trump, edges up on higher Treasury yields Aussie and kiwi bounce higher on better-than-expected domestic data; loonie also firmer Pound steadier ahead of Bank of England decision President Trump is impeached; markets don’t care President Trump became the third president in the history of the United States on Wednesday to be impeached after the House of Representatives, as expected, approved two charges against him for abuse of power and obstruction of [..]

Bank of England likely to save caution despite some Brexit clarity – Forex News Preview

Posted on December 18, 2019 at 4:52 pm GMT

The British pound has erased all its gains from Boris Johnson’s decisive parliamentary majority last week as Brexit fears resurfaced. The focus is now turning to the Bank of England’s (BoE) policy meeting on Thursday at 12:00 GMT as markets are eagerly waiting to hear how the central bank is planning to deal with the new Brexit developments. While interest rates are widely expected to remain steady, policymakers are likely to save some caution, leaving the case open for a [..]

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