GBPUSD

Daily Market Comment – UK Supreme Court decision eyed ahead of RBNZ meeting

Posted on September 24, 2019 at 8:24 am GMT

UK Supreme Court rules at 09:30 GMT whether Parliament’s suspension was lawful – upside risk for sterling? RBNZ rate decision due early on Wednesday; kiwi may briefly spike higher US stocks recover after upbeat manufacturing PMI, but safe havens tell another story UK Supreme Court to rule on Johnson’s suspension of Parliament It will be an eventful day in Britain, as the nation’s Supreme Court will decide whether Boris Johnson’s choice to suspend Parliament for five weeks was lawful, or [..]

Daily Market Comment – Euro reels after dismal PMIs, but don’t panic yet

Posted on September 23, 2019 at 8:26 am GMT

Euro drops after German PMIs suggest recession ahead – but there may be good news there too Trump’s trade remarks dampen risk appetite Oil prices jump on reports that Saudi output may be offline for longer Euro reels as preliminary PMIs paint a gloomier picture The single currency is on the back foot early on Monday, following the release of the preliminary French and German PMIs for September, which signaled that more pain lies ahead for the European economy. All [..]

Daily Market Comment – Pound jumps on Brexit deal hopes; dollar edges lower

Posted on September 20, 2019 at 8:29 am GMT

Pound surges on rising odds of a Brexit deal; Barnier-Barclay meeting eyed Dollar edges lower as other central banks hold steady, Treasuries slip Cautious optimism as US-China trade talks resume Oil spikes again after Saudi Arabia strikes Houthi targets in Yemen Pound continues to surge amid Brexit deal talk Hopes that the United Kingdom and the European Union may yet reach a deal on their divorce terms boosted the pound on Friday, taking the currency to 2½-month highs versus the [..]

Daily Market Comment – Markets unimpressed by Fed’s hawkish cut; aussie slips on weak jobs data

Posted on September 19, 2019 at 8:32 am GMT

Fed lowers rates as expected, signals may not cut again; BoJ stands pat, could move in October Dollar see-saws on Fed decision, stocks pare initial losses; BoE awaited Aussie and kiwi extend slide after data fuels rate cut expectations Powell soothes market nerves as split vote casts doubt on rate outlook There were no surprises from overnight decisions by the Federal Reserve and the Bank of Japan as the US central bank cut its benchmark rate by 25 [..]

Daily Market Comment – US funding squeeze haunts Fed ahead of rate decision; dollar slips

Posted on September 18, 2019 at 8:19 am GMT

US short-term rates jump on liquidity shortage in money markets, forcing Fed to step in FOMC decision awaited after market stress prompts speculation of balance sheet action Oil sharply reverses gains after Saudis pledge quick return to full output Calm returns to US money markets The US Federal Reserve carried out its first overnight repo operation since the financial crisis after short-term borrowing costs surged to 10% on Tuesday. The spike was caused by a funding squeeze brought on by [..]

What to watch out of the UK this week? – Forex News Preview

Posted on September 17, 2019 at 2:10 pm GMT

Unlike its major counterparts, the Bank of England (BoE) is not expected to join the dovish camp on Thursday when it announces its rate decision as the country has more Brexit developments to chew on. And while stable interest rates are better than an unexpected rate cut for the volatile pound, this week’s data out of Britain are not looking very promising, keeping downside risks alive in the market. Investors will also be interested to hear the UK’s Supreme Court’s decision on whether the Prime [..]

Daily Market Comment – Oil eases but stocks remain pressured; dollar edges up as focus turns to Fed

Posted on September 17, 2019 at 8:24 am GMT

Oil prices fall back slightly as imminent risk of war recedes, but tensions remain elevated US dollar in demand ahead of Fed decision; heightened tensions provide support Aussie slips after RBA minutes leave door open to another near-term rate cut Oil markets calmer but tensions high Crude oil prices moderated slightly on Tuesday as the United States and Japan pledged to release their countries’ oil reserves if needed, while President Trump said he’d like to “avoid” going to war with [..]

Technical Analysis – GBPUSD pauses rally at 1.2500; bearish signals are not convincing yet

Posted on September 17, 2019 at 7:32 am GMT

GBPUSD had a weak start to the week as the 1.2500 level did not allow Friday’s big rally, that ended above the Ichimoku cloud, to continue. The price is currently located lower around 1.2400, with the falling RSI warning over a softer trading tone in the short-term. Yet, as far as the indicator holds above its 50 neutral mark and the red Tenkan-sen maintains a steep positive slope above the blue Kijun-sen, those signals are not enough to convince that negative momentum [..]

Daily Market Comment – Oil soars after Saudi attacks; yen and gold up too

Posted on September 16, 2019 at 8:21 am GMT

Oil prices skyrocket after Yemen rebels launch air strikes on Saudi oil facilities Safe havens also jump as poor Chinese data adds to risk-off mood Pound eases from highs after EU casts doubt on Johnson’s claim of Brexit progress Oil prices surge to 4-month high after Saudi oil attacks Crude oil prices skyrocketed on Monday, recording their biggest intra-day gain since 1991 after Houthi rebels in Yemen reportedly carried out drone and cruise missile strikes on two major Saudi Arabian [..]

Week Ahead – Central banks bonanza awaits: Fed might disappoint, BoJ could surprise, more Brexit blues for BoE

Posted on September 13, 2019 at 1:30 pm GMT

With the ECB meeting over, it’ll be the turn of other central banks to try and impress stimulus-hungry markets with no less than four major policy meetings still to come. The Bank of Japan, the Bank of England, the Swiss National Bank, and of course, the Federal Reserve will announce their decisions over the next seven days. Economic data will also make the headlines as Canada, Japan and the United Kingdom publish inflation stats, China releases industrial production and retail [..]

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