GBPUSD

Daily Market Comment – Fed, BoC, and BoJ decisions; UK election confirmed

Posted on October 30, 2019 at 9:22 am GMT

Fed to slash rates today but may signal a pause after this cut, lifting the dollar BoC set to stand pat, unlikely to alter its neutral stance BoJ decides early on Thursday – close call whether it will cut UK General Election officially called for December 12 Fed virtually certain to cut rates, but will it also signal a pause? It’s an extremely busy day, with the main event being the Federal Reserve policy decision at 18:00 GMT, which will [..]

Technical Analysis – GBPUSD could trade positive-to-neutral in short-term

Posted on October 30, 2019 at 8:24 am GMT

GBPUSD erased a small part of its gains that drove the price near the 1.3000 key resistance area but the 1.2800 mark, which is currently viewed as a nearby support, curbed the downside correction. The short-term bias is currently looking positive-to-neutral as the RSI is reversing back towards its 70 overbought mark and the MACD keeps losing momentum below its signal line. On the other hand, trend signals seem to be turning even positive as the 20-day simple moving average [..]

Daily Market Comment – Stocks ride high on trade optimism; Boris to try again for snap election

Posted on October 29, 2019 at 9:13 am GMT

Trade progress drives S&P 500 to record high but global rally loses steam Pound choppy after EU extension as Johnson struggles to trigger a general election Dollar steady ahead of expected Fed rate cut Trump says Phase One deal is “ahead of schedule” Market sentiment was boosted on Monday after US President Donald Trump signalled an interim trade deal was close. Speaking to reporters yesterday, Trump said “We are looking probably to be ahead of schedule to sign a very [..]

Week ahead – Fed to cut rates, will BoJ follow? US payrolls on the menu too

Posted on October 25, 2019 at 12:49 pm GMT

There’s a barrage of crucial events coming up next week, with three major central bank meetings and an avalanche of economic data set to dominate the agenda. The Fed is almost certain to cut rates again, but may signal that the bar for any further action is high. The Bank of Japan is a wild card – it’s a close call whether it will cut too or wait a little longer. In Canada, the BoC will probably maintain a neutral [..]

Daily Market Comment – Pound slips after Johnson calls December election; dollar edges up

Posted on October 25, 2019 at 8:04 am GMT

British PM Johnson calls for an early election in December, but opposition parties are not so sure Pound dips on election uncertainty; euro also slides after Eurozone PMIs disappoint Mixed US data supports dollar, but Fed still expected to cut next week Is UK headed for pre-Christmas election? UK Prime Minister Boris Johnson has called for an early election on December 12 to break the latest Brexit impasse in Parliament. However, it is unclear if he will win the required [..]

Daily Market Comment – Markets steady as trade and Brexit headlines hit pause; ECB coming up

Posted on October 24, 2019 at 8:27 am GMT

Major pairs move sideways amid lack of fresh developments on the trade and Brexit fronts Speech by US Vice President on China eyed for clues on trade talks Stocks edge up despite mixed earnings ECB to kick off busy seven days for central banks Calm in FX markets but risks lurk Major pairs were trading within their recent ranges on Thursday as markets were offered a rare respite from Brexit and trade war headlines. The pound was marginally lower at [..]

Daily Market Comment – Johnson to miss Brexit deadline; pound slips, risk appetite fades

Posted on October 23, 2019 at 8:06 am GMT

British MPs reject Johnson’s fast track of Brexit legislation EU expected to offer extension; could pave way for UK general election Pound and euro slip as dollar and yen edge up amid some risk-off No Brexit on October 31 Boris Johnson’s hopes of the UK leaving the EU on October 31 were dashed yesterday after the British Parliament rejected the prime minister’s proposed tight timetable of rushing through the Brexit deal legislation that would have enabled an orderly EU exit [..]

Technical Analysis – GBPUSD shows signs of some stalling but still looking bullish

Posted on October 22, 2019 at 10:41 am GMT

GBPUSD seems undecided of direction after driving the price marginally above the 1.3000 handle. The aggressive rally that commenced on October 10, recouped nearly three quarters of losses in the drop from the high of 1.3381. The Tenkan-sen and Kijun-sen lines have now merged and turned flat, indicating that the short-term momentum has weakened. The softness in the RSI, that is currently pushing efforts to exit the overbought territory, is also backing the easing in positive momentum. Regarding the market [..]

Daily Market Comment – Pound steady ahead of Parliamentary Brexit debate; stocks boosted by trade optimism

Posted on October 22, 2019 at 8:12 am GMT

UK Parliament to begin debating Withdrawal Agreement bill Pound near highs but at risk if lawmakers derail Johnson’s Brexit plan US and China continue to send positive vibes on trade talks, lifting stocks Canadian dollar brushes off election concerns as Trudeau loses majority Busy week for UK Parliament; more headaches for Johnson ahead The Speaker of the House of Commons, John Bercow, continued to be a thorn on the side of the UK government after he blocked an attempt to [..]

Daily Market Comment – Brexit vote delayed; pound eases from 5-month highs

Posted on October 21, 2019 at 8:11 am GMT

UK Parliament postpones vote on revised Withdrawal Agreement, raising uncertainty But pound holds on to most gains as Prime Minister forced to request Brexit extension Markets mostly in risk-on mode amid positive US, China trade remarks Parliament puts the brakes on Boris’s Brexit plan British MPs voted to withhold their approval of the UK government’s renegotiated Brexit deal, in a blow to Prime Minister Boris Johnson, who is desperate to keep his promise of taking the country out of the [..]

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