GBPUSD

Daily Market Comment – Euro skids lower ahead of ECB; pound lifted by Johnson spending pledge

Posted on July 25, 2019 at 8:11 am GMT

Euro struggles near two-month lows as ECB decision is awaited Pound bounces higher after new prime minister signals big spending increases US dollar clings onto gains as Wall Street hits another record and trade talks make headway Euro mired by Eurozone doom and gloom Following yesterday’s poor Eurozone PMI readings, there was little support for the European common currency on Thursday as investors anxiously awaited the outcome of the European Central Bank’s monetary policy meeting later today. The euro was [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:45 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 8:09 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

Technical Analysis – GBPUSD moves south towards 27-month low

Posted on July 23, 2019 at 6:21 am GMT

GBPUSD has declined considerably again after it failed to surpass the short-term moving averages from the beginning of the month. During the preceding week, cable reached a fresh more than two-year low of 1.2380 and touched the return line of the downward sloping channel. The negatively aligned Tenkan-sen line serves as a testament to the negative short-term momentum that is in place. The RSI indicator is moving south in the bearish territory, while the %K line of the stochastic oscillator [..]

Daily Market Comment – Iran tensions rattle stocks, boost oil

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

Stocks pull back, oil climbs as Iran escalates tensions with UK Dollar outperforms after Fed’s Bullard downplays prospect of ‘double’ cut Big week for euro, with a crucial ECB meeting on Thursday US equities retreat, oil rebounds after Iran seizes British ship Geopolitical headlines rattled markets late on Friday, with the benchmark S&P 500 (-0.62%) closing in the red after Iran seized a British oil tanker in the Strait of Hormuz, escalating hostilities with London to a new level. Oil [..]

What’s next for sterling as Britain flirts with a no-deal Brexit? – Special Report

Posted on July 19, 2019 at 1:26 pm GMT

The British pound remains in the eye of the storm, as markets are waking up to the risk that a no-deal Brexit in October may be incoming Prime Minister Johnson’s preferred route. The coming week will be decisive, as the Cabinet ministers Johnson picks could reveal much about his strategy. As for sterling, the picture remains grim and a revisit of the $1.20 zone – or beyond – shouldn’t be ruled out, with signals for a General Election or a [..]

Week Ahead – ECB edges closer to more stimulus; US reports Q2 GDP; UK to get new PM

Posted on July 19, 2019 at 9:49 am GMT

The European Central Bank is expected to steal the limelight from the Federal Reserve next week as it meets to discuss fresh stimulus measures for the Eurozone’s troubled economy. But the Fed will still be on investors’ minds as the preliminary report on US GDP growth in the second quarter could determine whether it opts for an aggressive rate cut later this month. Meanwhile, the pound’s rollercoaster ride is expected to extend into next week as the result of the [..]

Daily Market Comment – Cautious Fed remarks take the wheels off dollar

Posted on July 19, 2019 at 8:00 am GMT

Dovish remarks by key Fed officials push greenback lower WTI crude oil at four-week low amid mixed signals in US-Iran conflict Canadian retail sales and more Fed-speak dominate the agenda today Fed’s Williams argues for preventive easing, sends dollar reeling The greenback continues to attract all the attention, after two influential Fed officials fueled market expectations for an aggressive 50 basis points (bp) rate cut at the upcoming policy meeting. The move started after New York Fed President Williams [..]

Daily Market Comment – Pullback in dollar lifts all boats; risk aversion creeps back

Posted on July 18, 2019 at 8:14 am GMT

Dollar retreats as trade concerns fuel Fed rate cut bets Stocks drop, safe havens gain amid risk aversion Aussie climbs after employment data UK retail sales due as pound recovers some losses Dollar grinds lower as July rate cut bets mount The world’s reserve currency retreated almost across the board on Wednesday and continues to surrender ground today, falling in tandem with longer-term US interest rates as worrisome trade signals prompted traders to boost bets for aggressive Fed rate cuts. [..]

Daily Market Comment – Sterling stumbles as no-deal Brexit fears strike back

Posted on July 17, 2019 at 8:04 am GMT

Pound touches 27-month lows as no-deal Brexit concerns resurface Dollar capitalizes, and may have more room to recover for now Oil sinks as Washington hints at “progress” with Iran Canadian inflation data coming up Sterling stumbles as no-deal worries wreak havoc The pound came under fire on Tuesday, falling by more than one big figure against the dollar to touch lows last seen in April 2017, as the risk of a no-deal Brexit popped back on the market’s radar. The [..]

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