GBPUSD

European Open Preview – Euro crumbles after ECB; Brexit hopes lift pound

Posted on January 25, 2019 at 9:12 am GMT

Euro closes lower on soft PMIs and ‘vigilant’ Draghi Stocks struggle amid conflicting trade signals Sterling advances on fresh Brexit reports Euro caves in after PMIs sink, Draghi ‘keeps his options open’ Euro/dollar had a particularly turbulent session on Thursday, before ultimately closing lower, caving in under the weight of disappointing PMIs out of the Eurozone and cautious commentary by the ECB. The preliminary manufacturing PMIs out of both Germany and France signaled contraction, revitalizing euro-area growth concerns, while a [..]

Special Report – As the Brexit deadlock lingers, what’s behind the pound’s rally?

Posted on January 24, 2019 at 11:59 am GMT

After Theresa May’s Brexit deal suffered the biggest parliamentary defeat in history for a sitting government, few would have thought the pound’s response to the latest setback for the prime minister would have been to head higher. However, as British MPs grow increasingly determined to take control of the Brexit process, investors are becoming convinced that there is no majority will in Parliament to allow the country to leave the European Union without a deal. The pound hit a new [..]

European Open Preview – ECB meets, all eyes on Draghi; pound soars

Posted on January 24, 2019 at 8:44 am GMT

ECB decision and Eurozone PMIs will chart euro’s course today Pound soars to 11-week highs versus dollar as no-deal Brexit risk fades Aussie tumbles on mounting speculation for RBA rate cut Stocks inch higher on strong earnings, dollar rebound stalls ECB meeting & Eurozone PMIs could make-or-break euro/dollar today It will be a crucial session for European assets and the euro itself today. The European Central Bank (ECB) will announce its policy decision at 1245 GMT, which will be followed [..]

European Open Preview – Market sentiment stays fragile, but kiwi shines

Posted on January 23, 2019 at 9:21 am GMT

Risk appetite remains weak as trade and growth concerns resurface BoJ stays on hold, provides no new signals – yen yawns Kiwi outperforms as New Zealand’s inflation prints beat estimates Growth and trade woes keep investors on the defensive Market sentiment remained fragile on Tuesday, with investors cutting their exposure to riskier assets and diverting those funds into safer plays, amid resurgent worries around global growth and trade uncertainties. News that the US will proceed with the extradition of the [..]

European Open Preview – IMF adds more clouds to global outlook

Posted on January 22, 2019 at 9:23 am GMT

IMF downgrades growth forecasts; stocks feel the pinch May keeps “no-deal Brexit” scenario alive Oil reverses lower amid signs of slowing global economy Risk appetite stays bearish amid growing global growth fears Stocks in Asia had another weak session on Tuesday as pessimism about global growth kept funds away from risky assets, with Chinese equities losing more than 1%. A couple of hours after China reported its slowest quarterly economic expansion since the financial crisis and the lowest annual growth in 30 years, the International Monetary [..]

Technical Analysis – GBPUSD erases gains after touching strong wall at 1.3000

Posted on January 22, 2019 at 9:21 am GMT

GBPUSD has found a strong resistance obstacle on the significant psychological level of the two-month high of 1.3000, reached on January 17. However, Cable has been trading within the 1.3000 and the 1.2855 zone over the last week, which is the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2390. The short-term bias looks neutral as the MACD keeps moving sideways in the positive area, while the RSI is pointing marginally down above the threshold of 50. It is worth mentioning that the 20-day [..]

UK pay growth to briefly steal limelight from Brexit developments – Forex News Preview

Posted on January 21, 2019 at 3:13 pm GMT

The UK labour market report for November will be watched on Tuesday at 09:30 GMT for the latest view on unemployment and wage growth in the Brexit-hit economy. While happenings in Westminster will be the main focus for investors, another solid set of jobs data could provide some support for sterling amid the deepening Brexit uncertainty. Britain’s unemployment rate was unchanged at near 4-decade lows in the three months to October at 4.1% and is expected to stay at that [..]

European Open Preview – Stocks extend trade gains; Brexit saga continues

Posted on January 21, 2019 at 9:08 am GMT

Reports China is willing to buy more US goods keep risk appetite buoyed Euro/dollar eyes key support area, looks to Thursday’s ECB meeting Today, focus turns back to the UK; PM May presents her alternative Brexit plan Fresh trade headlines propel stocks even higher, yen retreats US equity markets recorded another round of sizeable gains on Friday, with the likes of the S&P 500 (+1.32%) and the Dow Jones (+1.38%) establishing further distance above their respective 50-day moving averages. Meanwhile, [..]

Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]

European Open Preview – Trade hopes lift markets; pound cruises higher

Posted on January 18, 2019 at 8:45 am GMT

Stocks advance, safe-havens tumble on reports US could roll back China tariffs In the UK, sterling surges without Brexit news; sentiment is improving Today, Canadian inflation figures and Fed speakers may steal the show Stocks jump, yen softens on reports US may lift China tariffs Risk appetite firmed during the late US session on Thursday, following a WSJ report that US Treasury Secretary Mnuchin considered whether to lift the tariffs on Chinese products as a gesture of good faith during [..]

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