GBPUSD

Bank of England to sit on hands this week – Forex News Preview

Posted on April 30, 2019 at 4:14 pm GMT

The Bank of England will announce its latest policy decision on Thursday at 1100 GMT and is certain that no policymaker will vote for a change as developments around Brexit are still in a limbo a few weeks after the EU decided to grant the UK a six-month extension to exiting from the bloc. Economic prospects that greatly depends on the nature and timing of the divorce agreement is also giving little reason to abandon the current strategy. The UK Prime Minister turned [..]

Technical Analysis – GBPUSD gains some ground but still below descending line

Posted on April 30, 2019 at 9:52 am GMT

GBPUSD printed a bullish doji on Thursday near a 2 ½ -month low of 1.2864 before showing some recovery in the following sessions. While the RSI and the MACD seem to be improving in bearish territory, the market needs to overcome the descending trend-line drawn from the 1.3380 peak for the bulls to energize. The 38.2% Fibonacci level of 1.3007 of the 1.2393-1.3380 uptrend and the 20-day simple moving average (SMA) also happen to be in the same neighborhood. Should the price jump above the line, the [..]

European Open Preview – Dollar buoyant ahead of Fed, but caution elsewhere amid mixed growth signals

Posted on April 30, 2019 at 8:06 am GMT

Solid US growth and muted inflation boosts US dollar and Wall Street But other majors sag as disappointing Chinese PMIs revive growth fears Fed to start two-day monetary policy meeting, unlikely to alter stance Dollar eases from 22-month high but remains supported ahead of FOMC meeting The US currency was outperforming its peers early on Tuesday as there was further evidence on Monday that growth in the world’s largest economy is picking up speed. Personal consumption in the US rose [..]

Week Ahead – Fed, NFP, Eurozone GDP and BoE to inject life into subdued FX markets

Posted on April 25, 2019 at 11:53 am GMT

After a lacklustre couple of weeks for foreign exchange markets, trading volumes are expected to return to somewhat more normal levels over the next seven days with plenty of risk events on the horizon. But with many European markets shut on Wednesday for Labour Day and Japan closed for the entire week, liquidity might still be in short supply. The US currency and economy will remain at the fore as the Federal Reserve holds a policy meeting and the all-important [..]

European Open Preview – King dollar returns as investors flee euro, loonie

Posted on April 25, 2019 at 8:33 am GMT

Dollar index soars to 2-year high as euro, commodity currencies suffer BoC remains on hold but abandons rate-hike bias; loonie drops BoJ commits to low rates until 2020 but yen snoozes ‘King dollar’ returns as euro and antipodeans lose their shine The world’s reserve currency advanced across the board on Wednesday, with the dollar index soaring to 2-year highs, even without any US-specific catalyst. Instead, the greenback capitalized on weakness in other major currencies, most notably in the euro, aussie, [..]

European Open Preview – BoC may disappoint bears; US stocks hit records

Posted on April 24, 2019 at 8:02 am GMT

Bank of Canada may not be as dovish as markets expect today US stocks close at new record highs on blockbuster earnings Dollar rallies amid demand for US equities Aussie suffers after disappointing CPIs fuel rate-cut bets BoC: Cautious, but less than markets expect The main event today will be the Bank of Canada (BoC) policy decision at 14:00 GMT. No change in policy is expected, so price action will depend on the language of the accompanying statement, the updated [..]

European Open Preview – Earnings season fires up; aussie retreats

Posted on April 23, 2019 at 8:10 am GMT

Nasdaq 100 at record highs ahead of key earnings Aussie pulls back ahead of inflation data early on Wednesday Sterling retreats as PM May prepares to stave off another ‘Tory rebellion’ Nasdaq 100 cruises to record highs as earnings season fires up Markets remained quiet on Monday, with moves in both currencies and equities being muted overall and the spotlight remaining on oil prices instead. US stocks ended mostly in the green, with gains in the energy sector offsetting losses [..]

Technical Analysis – GBPUSD declines below 1.3000, posting 1-month low

Posted on April 23, 2019 at 6:37 am GMT

GBPUSD tumbled over the previous four consecutive days, plunging below the medium-term ascending trend line and creating a short-term descending line after the pullback on the nine-month high of 1.3380 in the daily timeframe. Also, the pair declined beneath the key level of the 38.2% Fibonacci retracement level of the upleg from 1.2390 to 1.3380, around 1.3000, recording a fresh one-month low of 1.2975. Regarding to the technical picture, the 20- and 40-simple moving averages (SMAs) posted a bearish crossover [..]

European Open Preview – Oil jumps as US ‘tightens the screws’ on Iran

Posted on April 22, 2019 at 7:58 am GMT

Oil soars as US prepares to impose full sanctions on Iran Currencies enter holiday lull Loonie eyes BoC policy meeting on Wednesday Oil jumps as US ‘tightens the screws’ on Iran Energy markets came back to the forefront on Monday, following reports that Washington is set to announce that all Iranian oil exports will soon face ‘full’ sanctions, ending the waivers it had granted previously to key customers of Iran, like China, Japan, and India. Oil prices surged to fresh [..]

Week Ahead – US next to report Q1 GDP; BoC and BoJ meet amid growth worries

Posted on April 19, 2019 at 9:31 am GMT

After China’s upbeat growth numbers this week, all eyes will be on the US economy’s performance during the first quarter. Aside from the US GDP, it’s going to be a rather quiet seven days for economic data due to the shortened Easter week but there will be two major central bank meetings to keep traders at their desks. The Bank of Canada and the Bank of Japan will announce their latest policy decisions in the coming days. Aussie looks to [..]

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