GBPUSD

UK data on tap as no-deal Brexit fears strike back – Forex News Preview

Posted on July 16, 2019 at 10:07 am GMT

With the new UK Prime Minister not expected to be announced until next week, Brexit news could remain scarce for now, shifting the focus back to data. Inflation figures for June are due on Wednesday, before retail sales numbers on Thursday, both at 08:30 GMT. The pound remains at very low levels as fears of a no-deal Brexit have returned, and while the worst may not be over in this sense, there is a saving grace: further weakness in the [..]

Daily Market Comment – US retail sales & Powell’s remarks to set the tone

Posted on July 16, 2019 at 8:36 am GMT

US retail sales and remarks by Powell top the agenda today UK jobs data may be watched as Brexit news flow remains limited Kiwi ticks up, despite lingering RBNZ rate-cut speculation EU Commission chief awaits Parliamentary confirmation Dollar looks to US retail sales and Powell’s remarks The greenback recovered some ground to start the week, in the absence of any noteworthy US news to drive the price action. That may change today though, with the release of the nation’s retail [..]

Technical Analysis – GBPUSD lacks bullish signals near six-month lows

Posted on July 16, 2019 at 7:16 am GMT

GBPUSD returned to the red zone and near a key support area around 1.25 after attempting to recover during the past three sessions. Chances for a meaningful rally in the short-term are currently viewed as minimal as the market action continues to take place comfortably below the simple moving averages (SMA) and the Ichimoku cloud, while the RSI and the MACD are lacking a clear direction while in the bearish area. Should the bears clear the 1.25 barrier, the focus will shift immediately towards the six-month low of 1.2438. Breaking decisively below [..]

Daily Market Comment – Stocks aim for new records as Chinese data lift sentiment

Posted on July 15, 2019 at 8:50 am GMT

US stocks eye new record highs as earnings season begins Dollar pulls back as markets digest Powell’s cautiousness Kiwi outperforms on Chinese data, looks to crucial inflation numbers Solid Chinese data calm slowdown fears, boost risk appetite Global markets kicked off the week in a risk-on mood, with the major US stock indices set to open at new record highs and commodity currencies like the kiwi outperforming in the FX arena, following a batch of encouraging Chinese data. As expected, [..]

Week ahead – Flurry of key data eyed as markets digest Powell’s cautiousness

Posted on July 12, 2019 at 11:45 am GMT

After Fed chief Powell all but guaranteed a July cut, things could quiet down a little next week, as the agenda is dominated by economic data. Growth figures from China may shed light on how much damage the trade war has inflicted, while in the US, retail sales numbers will be among the final pieces of the puzzle before the next Fed meeting. Inflation stats from New Zealand and Canada are also on tap, with some UK data perhaps attracting [..]

Daily Market Comment – Dollar weaker after Powell flags rate cut; US stocks hit all-time highs

Posted on July 11, 2019 at 8:27 am GMT

Fed Chair Jerome Powell and FOMC minutes bolster case for a July rate reduction US dollar slips after Powell’s remarks, reversing NFP-driven gains Euro rebounds, eyes ECB minutes; pound and loonie up too US stocks hit record highs but Bitcoin plunges Powell testimony all but confirms rate cut in July Markets were in buoyant mood on Thursday as Fed Chairman Jerome Powell gave his strongest indication yet that the Federal Reserve will slash interest rates at the July 30-31 meeting. [..]

Daily Market Comment – All eyes on Powell as markets seek rate cut confirmation; dollar at 3-week high

Posted on July 10, 2019 at 8:08 am GMT

Powell’s testimony awaited as investors seek clues on rates following mixed data US dollar continues to advance higher as odds of 50 basis points cut are erased Pound and aussie extend declines on rising rate cut expectations Bank of Canada expected to hold rates Markets are praying for a dovish Powell Fed Chairman Jerome Powell’s testimony will be today’s and the week’s focal point as investors attempt to gauge how dovish policymakers will be when they meet for their next [..]

UK growth likely bounced back in May but rising risks to keep pound on backfoot – Forex News Preview

Posted on July 9, 2019 at 10:50 am GMT

UK data will dominate Wednesday’s economic releases as the latest indicators on GDP growth, industrial output and trade are due to be published. The numbers, out at 08:30 GMT, will be watched for a possible rebound in growth during May following a dismal April. But even if economic output did bounce back in May, the latest PMI data suggest more pain is on the way for the British economy, casting a shadow over the pound’s near-term outlook. UK output expected [..]

Daily Market Comment – Dollar holds firm as Fed rate signals awaited; pound slips to 6-month lows

Posted on July 9, 2019 at 8:21 am GMT

Dollar remains buoyant as investors re-evaluate Fed rate cut bets Focus on Fed as FOMC minutes and Powell testimony eyed for clarity on rates Pound slips to fresh 6-month lows ahead of key UK data amid slowdown fears Dollar edges higher on fading expectations of an aggressive Fed The US dollar was heading towards three-week highs against a basket of currencies on Tuesday as investors pared back their expectations that the Federal Reserve would soon embark on an aggressive easing [..]

Technical Analysis – GBPUSD flirts with 6-month low; holds in descending channel

Posted on July 9, 2019 at 6:39 am GMT

GBPUSD plunged to a six-month low of 1.2480 on Friday, continuing the strong sell-off from March 13. The pair is currently hovering near the return line of the descending channel and the short-term moving averages are following the downfall of the price action. The RSI is standing near the 30 level but is flattening, suggesting that there is a possibility of a weaker bearish move in the daily chart. However, the MACD oscillator is strengthening its negative movement below the [..]

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