GBPUSD

European Open Preview – Dollar rips higher; RBNZ meeting in focus

Posted on February 12, 2019 at 8:53 am GMT

Dollar soars as ‘there is no alternative’; Fed’s Powell speaks at 17:45 GMT News US government shutdown may be avoided support risk sentiment RBNZ meets overnight; may strike a cautious tone, but is unlikely to be as dovish as market pricing implies Dollar rips higher, but can the bulls stay in control? The greenback shined for yet another session, continuing its unrelenting rally for an eighth day in a row versus a basket of major currencies, without much in the [..]

Technical Analysis – GBPUSD finds support around 40-day SMA after bearish rally

Posted on February 12, 2019 at 7:38 am GMT

GBPUSD is currently challenging the 40-simple moving average (SMA) in the daily timeframe after the aggressive selling interest from the three-and-a-half month high of 1.3217 on January 25. The price is also hovering around the 23.6% Fibonacci retracement level of the downward movement from 1.4375 to the 21-month low of 1.2390. The short-term bias remains neutral to bearish, as confirmed by the technical indicators. The RSI indicator is flattening around the 50 level, while the MACD oscillator is slipping in the positive zone below the [..]

European Open Preview – Dollar extends winning streak; franc suffers mini “flash crash”

Posted on February 11, 2019 at 9:07 am GMT

Dollar ticks up, stocks mixed as risk sentiment remains fragile Swiss franc had a mini “flash crash” overnight, amid thin liquidity conditions UK GDP data due today, but focus remains on Thursday’s Brexit vote in Parliament Dollar climbs, stocks steady as sentiment remains wobbly The dollar advanced for a 7th straight session against a basket of currencies on Friday, albeit only modestly, as investors sought the security of the world’s reserve currency amid concerns around the health of the global [..]

UK GDP growth to decelerate in Q4 – Forex News Preview

Posted on February 8, 2019 at 2:48 pm GMT

The Bank of England joined its dovish counterparts on Thursday after leaving interest rates steady as expected amid mounting fears that Brexit coinciding with a global economic slowdown could further sink British markets. Of more importance, policymakers surprisingly decided to cut growth forecasts to 1.2% for 2019 which is the lowest since financial crisis, turning the spotlight to Monday’s preliminary GDP figures for the fourth quarter, with markets predicting a weaker start for the year. At 0930 GMT, the Office for National Statistics [..]

Week Ahead – Japanese and UK Q4 GDP in focus; Kiwi readies for dovish noises from RBNZ

Posted on February 8, 2019 at 2:46 pm GMT

Japan and the United Kingdom will be next to publish economic growth numbers for the final quarter of 2018, while the Eurozone will release its second GDP estimate for the period. Inflation data out of the US and the UK will also be watched. The Reserve Bank of New Zealand will be among the last of the major central banks to hold its first monetary policy meeting of 2019. The Bank is unlikely to buck the trend and will probably [..]

European Open Preview – Stocks retreat on trade woes; BoE ‘holds the line’

Posted on February 8, 2019 at 8:54 am GMT

Risk aversion returns as Trump reignites trade fears, says he won’t meet Xi soon Sterling rebounds as BoE sticks to hiking plans, but Brexit uncertainty lingers Euro drifts lower after EU Commission slashes growth forecasts Canadian employment data coming up Stocks take a hit as Trump says he won’t meet Xi soon US equity markets closed well in the red yesterday, with the S&P 500 shedding 0.94%, following headlines that President Trump will not meet President Xi before the March [..]

European Open Preview – No hawkish bits from BoE today; kiwi capitulates

Posted on February 7, 2019 at 8:31 am GMT

BoE may adopt a cautious tone today amid slowing economy, Brexit uncertainty Kiwi dollar collapses after soft jobs data ignite speculation for RBNZ rate cut Greenback capitalizes on weakness in other currencies; stocks stall BoE to strike cautious tone as Brexit uncertainty reigns The spotlight will fall on the Bank of England (BoE) today, which is expected to keep its policy unchanged via a unanimous vote at 12:00 GMT. Updated economic forecasts and a press conference by Governor Carney will [..]

BoE to strike cautious tone as Brexit uncertainty reigns – Forex News Preview

Posted on February 6, 2019 at 2:51 pm GMT

The BoE is widely expected to keep policy unchanged via a unanimous 9-0 vote on Thursday, at 1200 GMT. Focus will be on the updated economic forecasts, the likelihood for rate hikes – or cuts – this year, and Governor’s Carney’s remarks. The heightened uncertainty around Brexit coupled with a slowdown in UK growth suggest little scope for any hawkish bits, with Carney & Co. instead likely to adopt a more cautious tone. With money markets still assigning a 60% [..]

European Open Preview – RBA chief jawbones aussie lower; pound slides

Posted on February 6, 2019 at 8:52 am GMT

Aussie plummets as RBA Governor changes tune, puts rate cut on table Pound dives after weak services PMI reinforces speculation for dovish BoE US stock markets cruise to fresh two-month highs RBA Governor reacquaints aussie with gravity The Australian dollar is in freefall early on Wednesday, losing more than a cent against its US counterpart, following some cautious-sounding remarks from RBA Governor Philip Lowe earlier. He backpedaled on some of the Bank’s prior rhetoric that the next move in interest [..]

European Open Preview – Neutral RBA lifts aussie; Wall Street advances

Posted on February 5, 2019 at 8:46 am GMT

Stocks climb while haven assets tumble, without any fresh catalyst Aussie outperforms after RBA wasn’t as dovish as markets expected Today, services PMIs from both the UK and US will dictate the action Stocks advance, yen crumbles as “no news is good news” Global risk appetite returned on Monday, in the absence of any material news or fresh fundamental catalysts to speak of. US stock markets recorded decent gains, with the benchmark S&P 500 (+0.68%) closing at a two-month high, [..]

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