GBPUSD

Daily Market Comment – Brexit turmoil deepens but pound steadies on weaker dollar

Posted on September 4, 2019 at 8:29 am GMT

PM Johnson calls for snap election after MPs approve to hold vote on blocking a no-deal Brexit Dollar slips after US manufacturing unexpectedly contracts in August, sending bond yields lower Loonie eases from lows as Bank of Canada decision is awaited Johnson eyes elections after losing majority UK Prime Minister Boris Johnson suffered a humiliating defeat in Parliament on Tuesday after 21 of his own MPs voted in favour of a cross-party bill that paves the way for a vote [..]

Technical Analysis – GBPUSD bearish signals strengthen within descending channel

Posted on September 3, 2019 at 9:39 am GMT

GBPUSD could not sustain its recent rebound as the upward line of the descending channel proved hard to break, with the bears leading the price slightly below the the key barrier of 1.1986 and to new 31-month lows on Tuesday. Technically, the negative momentum could stay in play in the short-term as the bearish signals have strengthened with the MACD slipping backwards in the negative area and under its red signal line and the RSI extending its downward move below its 50 [..]

Daily Market Comment – Sterling crashes as UK’s Johnson tries to thwart bid to stop no-deal Brexit

Posted on September 3, 2019 at 8:16 am GMT

Pound dips below $1.20 as PM Johnson threatens to call an election if MPs try to block a no-deal Brexit Chinese yuan extends slide as US-China trade talks in doubt Aussie bounces back after RBA decision; GDP eyed next UK MPs fight to stop no-deal Brexit British lawmakers will today vote on whether to take control of the Parliamentary agenda in order to force a vote on Wednesday on extending the Brexit date beyond the October 31 deadline by three [..]

Daily Market Comment – Stocks mixed as tariffs go up; pound slips as UK MPs return to Brexit chaos

Posted on September 2, 2019 at 8:36 am GMT

Stocks under pressure, safe-havens in demand as new US-China tariffs come into force Weak manufacturing PMIs also weigh on risk sentiment, but China stimulus hopes provide support Pound tumbles as traders brace for a turbulent week in Westminster as Brexit tensions boil Tariffs, growth worries dampen sentiment A new round of tariffs came into effect in the United States and China on Monday as the two countries imposed additional levies on each other’s goods in the never-ending trade war. While [..]

Week Ahead – Aussie Q2 data, RBA and BoC meetings, US jobs report and Brexit to make for a busy week

Posted on August 30, 2019 at 1:05 pm GMT

As the summer draws to a close, it will begin to get a little more heated in forex markets as a combination of central bank meetings, key releases and political risks look set to jump start the Autumn trading season. A raft of data out of Australia next week as well as an RBA policy meeting will keep aussie traders glued to their desks, though the Bank of Canada could steal the limelight as it ponders whether to make a [..]

Daily Market Comment – Dollar & stocks climb on trade hopes; inflation data eyed

Posted on August 30, 2019 at 8:15 am GMT

Optimism engulfs markets after China calms trade nerves – can it last? ECB policymakers downplay QE prospects, but euro doesn’t ‘buy it’ Euro area & US inflation data in the spotlight today Dollar index near 2-year highs as trade optimism lingers Global equity markets were a sea of green on Thursday, with European and American stocks gaining more than 1% after China indicated it won’t retaliate immediately to the latest US tariffs and that the planned trade talks could still [..]

Daily Market Comment – Pound sinks as Boris plays ultimate game of chicken

Posted on August 29, 2019 at 8:44 am GMT

Pound drops after PM Johnson suspends Parliament Risk appetite improves as China hints September trade talks may go ahead German inflation data and US second GDP reading on the radar today Sterling dives as Boris sets course towards a no-deal Brexit In a dramatic turn of events, UK Prime Minister Johnson announced yesterday he will prorogue Parliament, meaning that British lawmakers will not be able to debate or vote on anything between September 12 – October 14. The move is [..]

Daily Market Comment – Wall Street retreats on recession fears; oil soars

Posted on August 28, 2019 at 9:08 am GMT

Yen and gold advance, stocks retreat as recession worries intensify Pound recovers as no-deal Brexit risk recedes, but outlook still negative Oil jumps after massive inventory drawdown – official EIA figures due today Wall Street retreats as recession fears deepen A mild risk-off tone swept through global markets on Tuesday, with American stocks closing modestly in the red and the defensive Japanese yen outperforming most of its major peers. Likewise, gold prices logged some gains, as the commodity currencies – [..]

Technical Analysis – GBPUSD deflected by 23.6% Fibonacci for a continued bear move

Posted on August 27, 2019 at 9:39 am GMT

GBPUSD sellers pushed the price below the 1.2288 barrier this week, which is the 23.6% Fibonacci retracement level of the down leg from 1.3176 to 1.2014. The MACD has further distanced itself above its red trigger line in the negative territory, but seems to be starting to flatten, so some caution cannot be ruled out in the short-term. The RSI has also weakened after moving slightly into the positive area. It’s worth mentioning that the medium-term picture is still tilting [..]

Daily Market Comment – Risk sentiment fragile despite ‘calm’ trade rhetoric

Posted on August 27, 2019 at 8:16 am GMT

Markets recover as Trump strikes a conciliatory tone, but reality sinks in Further trade escalation seems imminent, so risk aversion may linger In the UK, opposition lawmakers will meet to avert a no-deal Brexit Risk sentiment in ‘no-man’s land’ as markets digest conflicting signals Global risk appetite recovered on Monday, following some encouraging signals on trade by the US President at the G7 summit. Trump said that Chinese officials had called the American negotiators in order to ‘get back to [..]

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