GBPUSD

Week ahead – German recession, RBNZ rate decision, and a flood of data

Posted on November 8, 2019 at 1:47 pm GMT

The RBNZ will be the lone major central bank to decide on rates next week, but that doesn’t mean the schedule is light, as there’s an abundance of key economic data ripe for release. German growth figures will reveal if the euro area’s traditional star player entered a technical recession, while in America, a testimony by Fed chief Jay Powell could provide clues around the recent ‘pause’ in rate cuts. Beyond regular economics, markets will keep a watchful eye on [..]

UK GDP growth likely bounced back in Q3 but more weakness ahead – Forex News Preview

Posted on November 8, 2019 at 1:03 pm GMT

The coming week will be a data-heavy one for the United Kingdom and kicking things off on Monday will be third quarter GDP numbers along with the monthly breakdown of economic output, as well as trade figures for September. The data, due at 0930 GMT, are expected to point to a stagnant economy as Brexit and trade uncertainty take a toll. UK to avoid technical recession The British economy contracted by 0.2% in the second quarter, as production fell back [..]

Daily Market Comment – Risk appetite softens on mixed US signals about trade deal; pound slips after BoE

Posted on November 8, 2019 at 9:20 am GMT

Markets remain optimistic of a US-China deal but US officials cast doubt over tariff rollback Dollar set for weekly gains as yen on the pull back Pound skids after Bank of England signals possible rate cut Confused messages on tariff concession Risk appetite cooled off slightly on Friday as confusing signals by US officials on whether the White House is ready to accept the roll back of some of the tariffs on Chinese imports raised question marks about China’s assertion [..]

Daily Market Comment – Markets whipsaw on conflicting trade headlines; US-China deal moves closer

Posted on November 7, 2019 at 9:28 am GMT

US-China trade deal appears back on after earlier reports of a possible delay causes brief spike in risk aversion Yen led on a roller-coaster ride by on-off-on trade deal prospects Pound steady ahead of Bank of England meeting US and China reportedly agree to roll back some tariffs Trading got off to a volatile start on Thursday as negative headlines late on Wednesday quickly turned positive. Doubts emerged about the likelihood of the US and China being able to sign [..]

Daily Market Comment – Dollar steadier after US data boost; stock market rally cools

Posted on November 6, 2019 at 9:18 am GMT

US dollar surges on strong ISM non-manufacturing PMI before steadying Stocks get off to softer start as trade deal euphoria starts to fade Euro pressured by stronger dollar; kiwi up despite disappointing jobs numbers Dollar hits 3-week high on upbeat PMI Better-than-expected economic data and optimism that the US and China are nearing a ‘phase one’ trade deal lifted the US dollar to the highest in three weeks against a basket of currencies on Tuesday. The dollar index reached a [..]

Technical Analysis – GBPUSD’s positive signals remain intact despite consolidating

Posted on November 5, 2019 at 9:27 am GMT

GBPUSD looks to have lost some steam transitioning into a sideways move, with the short-term oscillators reflecting a stall in momentum. The pair may be in the process of forming a pennant – valid on a break of the upper or lower lines – after the rally from October 8, which pushed the price aggressively above all the simple moving averages (SMAs). The MACD, deep in the positive region, has moved slightly below its red trigger line, while the stochastics [..]

Will UK services PMI nudge Bank of England closer to abandoning its tightening bias? – Forex News Preview

Posted on November 4, 2019 at 3:06 pm GMT

With Brexit on pause as UK politicians prepare to battle out their differences in a general election, the Bank of England policy meeting and the all-important services PMI will be the main drivers for the resurgent pound this week. The services PMI, due on Tuesday at 0930 GMT, will be monitored to see whether the UK economy is on the mend after a dismal two quarters, while the Bank of England could finally drop its tightening bias when it announces [..]

Week Ahead – RBA to hold rates but BoE could signal policy shift; trade and services PMIs in focus

Posted on November 1, 2019 at 11:46 am GMT

As the Fed and the ECB signal they may be done with policy easing for now, the Reserve Bank of Australia may follow suit, but the Bank of England could be a late joiner to the easing club. Apart from the next wave of central bank meetings, monthly trade statistics will come to the fore with China’s figures likely to attract the most attention, while employment numbers out of Canada and New Zealand will also be eyed. Meanwhile, over in [..]

Daily Market Comment – Dollar braces for nonfarm payrolls; risk aversion returns

Posted on November 1, 2019 at 9:25 am GMT

US payrolls and ISM index could shape the dollar’s fortunes today Risk appetite dampened by reports China won’t compromise on ‘real’ trade issues Can US payrolls keep the besieged dollar from stumbling further? The spotlight today will fall on the US employment report for October, as investors scramble to figure out whether the Fed can truly afford to ‘pause’ its rate-cutting cycle, or whether that is merely wishful thinking. Likewise, the ISM manufacturing PMI for the same month will reveal [..]

Daily Market Comment – Dollar goes for a ride as Fed baffles markets

Posted on October 31, 2019 at 10:58 am GMT

Dollar ends lower, stocks soar as Fed can’t convince markets it will hit ‘pause’ Loonie hammered as BoC drops neutral stance, hints at ‘insurance cut’ BoJ strengthens easing bias, but yen yawns Eurozone, US, and Canadian data coming up today Fed cuts rates and signals a pause, but markets don’t buy it The Fed cut rates by another quarter-point yesterday, as widely expected, but refrained from signaling that any more cuts are coming. The phrase “will act as appropriate to [..]

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