GBPUSD

European Open Preview – Pound recovers some losses; dollar reigns supreme

Posted on May 20, 2019 at 8:16 am GMT

Sterling crumbles as no-deal Brexit risk returns Aussie gets a lift from politics, but outlook still grim Dollar continues to reign supreme as other currencies lack appeal Pound dives as May’s grasp on power weakens Sterling took yet another hit on Friday, with Cable falling to its lowest level since January as the British political landscape darkened. Cross-party talks between Theresa May’s Conservatives and the opposition Labour party collapsed, dashing hopes for a bipartisan compromise to break the Brexit deadlock. [..]

Week ahead – European elections & PMIs, Fed minutes, and much more

Posted on May 17, 2019 at 12:40 pm GMT

While lacking in central bank meetings, the coming week is still a busy one. A poor showing by the UK Conservatives in the European Parliament elections could make it even more likely that Theresa May is replaced with someone that wants to deliver Brexit ‘no matter what’, keeping the pound on the back foot. Meanwhile, preliminary Eurozone PMIs are unlikely to change the euro’s fortunes, while the Fed minutes may strike a ‘neutral’ tone, leading to a slight unwinding of [..]

European Open Preview – Pound slumps as May expected to step down; dollar lifted by strong data and earnings

Posted on May 17, 2019 at 8:22 am GMT

Pound continues to slide as cross-party Brexit talks set to end and countdown begins to PM May’s exit Euro also on the backfoot as Italian political worries re-emerge US dollar climbs to 2-week high following strong corporate earnings and solid US data Pound extends losing streak as Brexit risks rise Sterling is on track to post its sixth straight day of losses and to end the week 1.6% lower as Prime Minister Theresa May’s days look numbered. It was confirmed [..]

European Open Preview – Yen and franc firm again as Trump bans Huawei, fuelling tensions with China

Posted on May 16, 2019 at 8:29 am GMT

Trump continues to up the pressure on China; imposes ban on telecom giant Huawei But some relief as US delays auto tariffs decision for now Dollar softer after unexpectedly weak data out of the United States Aussie worst performer as rise in Australian unemployment raises rate cut bets Fragile market mood as trade tensions remain elevated Markets were mostly in risk-off mood on Thursday as a combination of on-going trade frictions and disappointing economic data out of the world’s two [..]

European Open Preview – Stocks bounce back as Trump downplays China tensions but weak data weigh on aussie

Posted on May 15, 2019 at 8:16 am GMT

Trade worries continue to ease after Trump calls latest escalation “a little squabble” Equities attempt a rebound on the back of the improving risk appetite But aussie and yuan held back from disappointing Chinese data Risk appetite recovers on Trump’s “little squabble” comments The US president, Donald Trump, sought to play down the latest spat with China on Tuesday, telling reporters “We’re having a little squabble with China because we’ve been treated very unfairly for many, many decades”. Trump also [..]

European Open Preview – Markets steadier after Trump’s comments; gold eases from highs

Posted on May 14, 2019 at 8:52 am GMT

China retaliates by raising its own tariffs against US products, throwing markets into turmoil But some optimism returns to markets after Trump says he thinks trade talks will “be very successful” Gold softer after surging on Monday, stocks sell-off eases Volatility eases as Trump keeps trade deal hopes alive After a day of turmoil in financial markets, things got off to a steadier start on Tuesday with the help of some upbeat comments by US President Trump. Global equities plunged [..]

Technical Analysis – GBPUSD tests 200-day SMA; stochastics oversold

Posted on May 14, 2019 at 7:11 am GMT

GBPUSD extended last week’s decline towards the 200-day simple moving average (SMA) on Monday and could lose further if the RSI and the MACD remain in bearish territory. The fast-stochastic oscillator, however, suggests that in the very short-term upside corrections are possible as the indicator heads for a bullish cross in oversold area. The previous low of 1.2864 (bullish doji), which is slightly below the 50% Fibonacci of the upleg from 1.2393 to 1.3380, will be closely watched in case of additional bearish sessions as any break lower [..]

UK jobs data on tap as Brexit deadlock persists – Forex News Preview

Posted on May 13, 2019 at 2:35 pm GMT

The UK jobs report is due out on Tuesday (09:30 GMT) and forecasts point to a slowdown in wages, which may weigh on the pound a little. In the bigger picture, the risks around sterling also seem tilted to the downside, as any breakthrough in the cross-party Brexit talks seems unlikely, and May’s premiership is increasingly under threat. The pound continues to be driven almost entirely by Brexit, with markets overlooking economic data. The logic behind this rests on [..]

European Open Preview – Stocks slip again as trade tensions remain heightened; yen and franc up

Posted on May 13, 2019 at 8:23 am GMT

Trade tensions continue to simmer as China pushes back on US demands But two sides agree to hold more talks, keeping risk-off in check Safe-haven currencies such as the yen and the Swiss franc rise along with US government bonds US threatens new tariffs as talks with China stall US and Chinese negotiators failed to break the deadlock over trade in their talks last week as China refuses to change its laws to enact the reforms agreed in months-long negotiations. [..]

Week Ahead – US retail sales, Aussie jobs, Chinese industrial output to stand out in quiet week

Posted on May 10, 2019 at 11:33 am GMT

With market anxiety heightened about the direction of the US-China trade talks, economic data might struggle to distract traders next week given the shortage of top-tier releases. Still, there will be several major indicators that investors should keep an eye on, including Australian employment and wage figures, Chinese industrial output and retail sales readings, revised GDP estimates from the Eurozone, the UK jobs report and retail sales numbers out of the United States. Australian jobs stats could be key for [..]

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