GBPUSD

Technical Analysis – GBPUSD’s consolidation shows signs for a retest of recent high

Posted on November 19, 2019 at 9:46 am GMT

GBPUSD’s positive sentiment seems to be unbroken as the pair holds above the 200-day simple moving average (SMA), eyeing the fresh peak of 1.3011. The price bounced off previous peaks (now-turned-support) from June, repowering the positive signals of the MAs and the momentum indicators. The short-term oscillators suggest that positive momentum is improving. The MACD is still in the positive zone but below its red trigger line, looking to move back above it, while the RSI has risen close to [..]

Daily Market Comment – Trump teases negative rates, spooks dollar

Posted on November 19, 2019 at 9:24 am GMT

Dollar drops as Trump meets Powell to discuss interest rates and FX US stocks shrug off negative trade headlines, claim new record highs Aussie pulls back after RBA minutes, but recovers Dollar retreats as Trump discusses negative rates with Powell Fed Chairman Jay Powell met with President Donald Trump on Monday to discuss the economy. The latter then tweeted out that the conversation centered around how high US interest rates are relative to other advanced economies, the prospect of negative [..]

Daily Market Comment – Markets stay in a risk-on mood; pound climbs

Posted on November 18, 2019 at 9:48 am GMT

Stock markets climb, safe havens drop as trade optimism lingers Sterling pushes higher as Brexit Party stands down – focus remains on election polls Dollar ticks down after mixed retail sales, but broader picture still promising US stocks to open at yet another record high; yen retreats Risk appetite remained firm at the end of last week, with all three of the major US stock indices closing at new records, after a high-ranking White House official played up the prospect [..]

Week ahead – Fed minutes and European PMIs highlight a calm week

Posted on November 15, 2019 at 1:52 pm GMT

The economic calendar is relatively light next week, with the most crucial release being the euro area’s preliminary PMIs, which will reveal whether growth is headed for a contraction in Q4. In America, the minutes of the latest Fed meeting could add some color around the decision to hit ‘pause’ on rate cuts and clarify if the Fed intends to let the economy run hot. In the broader market, risk appetite will be driven by trade news, where the mood [..]

Daily Market Comment – Stocks storm to new highs on more trade euphoria

Posted on November 15, 2019 at 9:37 am GMT

US equities claim new highs on trade hopes, but the FX market is doubtful Dollar braces for retail sales figures today Trump could announce his decision on EU car tariffs any moment US stocks to open at new records as Kudlow hypes ‘phase one’ deal Another day, another record high for US equity markets. Futures point to a notably higher open on Wall Street today, the S&P 500 expected to gain 0.45%, after Larry Kudlow – one of Trump’s closest [..]

Daily Market Comment – Germany dodges a recession, but euro remains skeptical

Posted on November 14, 2019 at 10:11 am GMT

Technical recession avoided in Germany, but outlook for euro still bleak American stock markets hit new records, ignoring gloomy trade news Lots of Fed-speak today, starring Powell, Clarida, and Williams – the Fed’s ‘top 3’ Germany dodges a recession, but euro can’t catch a break Europe’s largest economy narrowly escaped a technical recession in Q3, with GDP growth clocking in at 0.1% in quarterly terms, overcoming the consensus for a negative 0.1% print. It appears that the recession in the [..]

Daily Market Comment – RBNZ catapults kiwi higher; Trump decides on EU tariffs

Posted on November 13, 2019 at 9:35 am GMT

Kiwi outperforms as RBNZ surprisingly refrains from cutting rates Markets in a slight risk-off mood as trade doubts reemerge Today: Trump decides on EU tariffs, Fed chief Powell testifies, and US CPI data RBNZ surprisingly keeps rates unchanged, propels kiwi higher To the surprise of many, the Reserve Bank of New Zealand (RBNZ) kept its policy rate unchanged overnight, confounding forecasts and market expectations, as a rate cut was priced in with an ~80% probability. Even though policymakers kept the [..]

Daily Market Comment – RBNZ to slash rates; more blues for the kiwi?

Posted on November 12, 2019 at 9:35 am GMT

Kiwi underperforms as investors bet that RBNZ will cut rates overnight Pound rejoices as Brexit party warms up to Tories, but risks seem tilted to the downside UK jobs data, Germany’s ZEW survey, and Fed-speak today RBNZ set to cut rates after inflation expectations drop The Reserve Bank of New Zealand (RBNZ) will announce its rate decision early on Wednesday, at 02:00 GMT. A rate cut seems quite likely, after a survey released overnight showed that the nation’s 2-year inflation [..]

Technical Analysis – GBPUSD looks mildly positive in short-term; resistance line in focus

Posted on November 12, 2019 at 8:13 am GMT

GBPUSD started the week in the green after falling slightly for three consecutive days. The rebound happened around the 1.2800 support level and the 23.6% Fibonacci of the upleg from 1.2200 to 1.3011, but the bullish action was not strong enough to pierce the 1.2900 mark. Although the RSI managed to bounce back into the bullish area, the indicator continues to hold a downward direction since mid-October, while in Ichimoku indicators, the red Tenka-sen is flattening above the blue Kijun-sen line, all signaling a [..]

Daily Market Comment – US stocks cruise to new records, but Hong Kong weighs

Posted on November 11, 2019 at 9:41 am GMT

Risk aversion strikes back as Hong Kong protests intensify and trade doubts resurface Dollar advances without new catalysts, loonie stumbles on weak data UK GDP numbers due, but sterling keeps its sights on election polls Hong Kong jitters send global equities back down, lift yen US stock markets levitated to new records on Friday, undeterred by some remarks from President Trump that he hasn’t decided yet whether he is willing to roll back tariffs on China to get the ‘phase [..]

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