GBPUSD

UK services PMI eyed as Boris issues Brexit ultimatum – Forex News Preview

Posted on October 2, 2019 at 3:22 pm GMT

Britain’s services PMI for September is due on Thursday at 08:30 GMT. Forecasts point to a decline in the index, which could raise the odds for a Bank of England (BoE) rate cut in the near term. Of course, politics will overshadow economics in driving the pound, so more attention may fall on Boris Johnson’s Brexit proposals. If what has been released so far is accurate, the EU is unlikely to agree to them, which implies more pain ahead for [..]

Daily Market Comment – Manufacturing recession and Brexit ultimatum

Posted on October 2, 2019 at 8:45 am GMT

Stocks tank as disappointing US PMI data fuel recession fears Pound remains under pressure as Johnson’s Brexit ‘ultimatum’ is leaked Mood turns sour as ISM manufacturing PMI drops further into contraction Global markets went into turmoil yesterday, with risk aversion dominating after the US ISM manufacturing PMI unexpectedly dropped to a decade low of 47.8 in September, missing the forecast for a rebound to 50.1. Any reading below 50 suggests the sector is contracting, so the considerable decline in this [..]

Daily Market Comment – Trade war goes financial

Posted on September 30, 2019 at 8:59 am GMT

Markets stay in risk-off mode as US considers financial sanctions against China Kiwi drops to new 4-year low after weak business confidence numbers Pound tumbles on hints of BoE rate cut, but may get some relief from politics Sentiment turns sour on fears trade war may spread into finance The main story on Friday was that the Trump administration is examining whether to restrict US financial flows into China. According to reports, Washington is considering delisting Chinese companies from [..]

Technical Analysis – GBPUSD blocked by support near oversold area

Posted on September 30, 2019 at 7:19 am GMT

GBPUSD has paused its sell-off just above the 200-period simple moving average (SMA) and near three-week lows in the four-hour chart. But the falling Tenkan-sen suggests that the bearish action has more room to run. The RSI is backing this view as well, though it also signals that any downside may appear limited in the short-term as the indicator is not far above its 30 oversold level. The 1.2270 mark, which is slightly under the 200-period SMA and where the 50% Fibonacci of the upleg from [..]

Week Ahead – RBA expected to cut again; US jobs report and September PMIs in focus too

Posted on September 27, 2019 at 10:30 am GMT

More central bank meetings will follow in the coming week, this time with the Reserve Bank of Australia, while things will heat up a little on the data front as September PMIs are on the agenda, as well as the all-important US jobs report. Although investors have recently pared some of their bleakest outlook for global growth and recession risks have receded somewhat, the incoming data will nevertheless be watched closely as trade tensions could flare up at any moment. [..]

Daily Market Comment – Trade rollercoaster keeps sentiment fragile; dollar climbs

Posted on September 27, 2019 at 8:00 am GMT

Stocks retreat on trade doubts, but short-term outlook still positive Euro weakens amid ECB easing speculation, dollar capitalizes Flood of US data due out today, but trade issues more important for greenback Stocks pull back on reports US is unlikely to extend Huawei waivers Market moves were relatively muted on Thursday, as investors remained hesitant to increase their exposure until they get a better grip on the various risks currently at play, most notably the Trump impeachment threat and the [..]

Daily Market Comment – Dollar soars as impeachment worries fade, trade optimism returns

Posted on September 26, 2019 at 8:35 am GMT

Renewed trade optimism and fading impeachment concerns lift dollar & stocks One of the biggest ECB hawks resigns; Draghi speaks today RBNZ Governor plays down prospect of QE, lifts kiwi Dollar and equities shoot up as Trump says a trade deal may be close Global risk sentiment improved drastically on Wednesday, as a combination of optimistic trade remarks and diminishing fears of a US presidential impeachment saw investors rotate back into riskier assets. The market’s mood started to improve after [..]

What now for Boris and sterling after UK Supreme Court rules prorogation unlawful – Special Report

Posted on September 25, 2019 at 8:58 am GMT

The highest court in the United Kingdom has landed a fresh blow for Prime Minister Boris Johnson after it ruled that the government’s decision to suspend Parliament was unlawful. The surprise ruling cut Johnson’s trip to New York short where he was hoping to meet his EU counterparts on the sidelines of the United Nations General Assembly to speed up progress in the Brexit negotiations. But following the Supreme Court’s decision, it’s unclear whether Johnson can stay on as prime [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:35 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting? Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

Technical Analysis – GBPUSD fails to conquer swing high; reverses back below 100-SMA

Posted on September 24, 2019 at 10:02 am GMT

GBPUSD bears took control, pivoting the pair around the swing peak of 1.2578 from July 12. The price correction has slipped underneath the 1.2500 hurdle and the 100-day simple moving average (SMA), the former being the 38.2% Fibonacci retracement of the down leg from 1.3381 to 1.1957. Momentum indicators are starting to fall in line with the bigger bearish picture. The MACD is declining towards its red trigger line in the positive zone and the RSI is horizontal near the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms