GBPUSD

European Open Preview – ECB meeting, EU Brexit summit, and much more

Posted on April 10, 2019 at 7:58 am GMT

Today is packed with market-moving events, including an ECB meeting, an EU summit on Brexit, US inflation data, and Fed minutes ECB is likely to maintain a dovish tone amid growth, trade concerns EU set to offer UK long but ‘flexible’ Brexit extension Meanwhile, trade uncertainty returns to haunt stocks ECB meets – No action, but perhaps more cautious language The European Central Bank (ECB) will announce its policy decision at 11:45 GMT, but the real action will likely begin [..]

European Open Preview – US proposes tariffs on EU, but markets remain calm

Posted on April 9, 2019 at 8:09 am GMT

US officially proposes tariffs on EU, but market reaction minimal so far Euro advances, looks to ECB meeting tomorrow In Brexit, May will meet Merkel and Macron today ahead of EU summit Lighthizer recommends tariffs on EU – new chapter in trade war? The main story overnight was that the US Trade Representative, Robert Lighthizer, proposed introducing tariffs on a list of 11$bn worth of EU products in retaliation to EU aircraft subsidies. This is the clearest sign yet that [..]

Technical Analysis – GBPUSD jumps higher as ascending trend line looks supportive

Posted on April 9, 2019 at 6:36 am GMT

GBPUSD is continuing yesterday’s rebound on the medium-term ascending trend line, which has been standing since December 2018 and at the same time confirming another touch at the 38.2% Fibonacci retracement level of the upleg from 1.2390 to 1.3380, around the 1.3000 key level. The short-term bias looks positive as the RSI keeps gaining ground slightly below the neutral threshold of 50. The 40- and then the 20-day simple moving averages (SMA) currently near the 23.6% Fibonacci mark of 1.3150 [..]

UK growth likely ground to a halt in February as markets await Brexit decisions – Forex News Preview

Posted on April 8, 2019 at 2:38 pm GMT

Economic indicators due out of the United Kingdom on Wednesday (08:30 GMT) are anticipated to show GDP growth stalling in February amid the heightened uncertainty around Brexit. But it will be happenings in the Brexit sphere that will once again grab the bulk of traders’ attention. EU leaders will meet for an emergency summit on Wednesday to decide whether to grant the UK another extension to the exit date, otherwise a no-deal Brexit would be the default option when the [..]

European Open Preview – Fed rate-cut bets grow; oil climbs on Libya woes

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

Dollar little changed after NFP, but Fed rate-cut odds rise In the UK, reports suggest PM May could accept a customs union compromise Oil touches five-month high as Libyan production is threatened Dollar snoozes after mixed jobs data, but rate-cut bets grow The US employment report for March was a mixed bag. Nonfarm payrolls clocked in at 196k, higher than the consensus for 180k, but wage growth disappointed, with average earnings slowing to 3.2% in annual terms, from a cycle-high [..]

Week Ahead – Euro and pound in focus as ECB meets and EU leaders hold emergency Brexit summit

Posted on April 4, 2019 at 3:13 pm GMT

Economic data will take a backseat in the coming week as the biggest risk events that are being anticipated are the European Central Bank’s policy meeting and an emergency summit by the European Union to discuss the Brexit crisis. But while UK and EU politics may grab most of the headlines, there will also be some key releases to keep an eye on. Export numbers out of China and Germany will be watched to assess global trading conditions as trade [..]

European Open Preview – Equities extend gains; UK Parliament blocks no-deal

Posted on April 4, 2019 at 8:05 am GMT

Pound advances as UK Parliament blocks no-deal exit; all eyes on May-Corbyn talks Equities extend winning streak as trade optimism rides high ECB minutes the highlight on today’s calendar Parliament blocks no-deal Brexit, pound advances The Brexit process continues to dominate headlines. The House of Commons voted by the narrowest of margins (313-312) to force Theresa May to ask the EU for an extension beyond April 12. Lawmakers, not the government, will decide the length of the delay, subject to [..]

European Open Preview – Pound climbs as May warms up to Corbyn; stocks jump

Posted on April 3, 2019 at 8:03 am GMT

Encouraging trade signals lift risk sentiment; high-level talks resume today Sterling climbs as May warms up to Corbyn to break deadlock Dollar pulls back ahead of ADP report and ISM non-manufacturing PMI Risk appetite boosted by hopes for trade breakthrough After a relatively uneventful session on Tuesday, during which major US stock indices such as the S&P 500 closed flat, risk sentiment was lifted overnight by some encouraging signs on the trade front. Reports suggest that top US and Chinese [..]

UK services PMI due, as pound eyes long Brexit extension – Forex News Preview

Posted on April 2, 2019 at 2:59 pm GMT

The main release in the UK this week will be the services PMI for March, due out on Wednesday at 09:30 GMT. However, politics will probably eclipse economics in driving the British currency. On that front, Parliament could hold another round of votes on Wednesday, and PM May is reportedly preparing to put her deal for a fourth vote on Thursday. In the bigger picture, a long Brexit extension is looking increasingly likely, an outcome which could bring some relief [..]

European Open Preview – Stocks, dollar rip higher as growth fears ease

Posted on April 2, 2019 at 8:17 am GMT

Rebound in Chinese PMIs fuels rally in global stocks, dollar advances Pound outperforms as ‘soft’ Brexit outcomes or long extension seem likely Aussie drops after RBA recalibrates language Stocks and dollar cruise higher as China-induced rally lingers Global equity markets started the second quarter on a strong footing, after a decent set of PMI data out of China during the weekend calmed some nerves around the global growth outlook, amplifying the appeal of riskier assets. Wall Street shares rallied, with [..]

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