GBPUSD

Daily Market Comment – Dollar slips again on Fed speculation; stocks pause for breath

Posted on November 30, 2020 at 10:00 am GMT

Dollar extends slide as investors look to Powell testimony and NFP report for Fed clues Stocks stumble at start of week, but vaccine progress keeps risk appetite alive Pound still holding out for Brexit breakthrough as time running out Oil slips as OPEC+ unlikely to agree on long extension to output cuts Dollar remains pinned down in crucial week There was no end in sight to the US dollar’s losing streak at the start of the new trading week as [..]

Daily Market Comment – Dollar on the ropes, aussie unfazed by China tariffs

Posted on November 27, 2020 at 12:09 pm GMT

Greenback hovers near lows, markets quiet overall What’s the outlook for euro/dollar from here? China slaps tariffs on Australian wine, but aussie immune Crunch time in Brexit talks as EU negotiators travel to London All quiet on the FX front It was a relatively subdued session in global markets yesterday with US traders being away on holiday. Most stock indices closed flat and currency pairs generally traded in narrow ranges, with no real headlines to steer the price action and [..]

Daily Market Comment – Dollar on the defensive, market rally pauses

Posted on November 26, 2020 at 9:24 am GMT

Stock markets pause for breath, currencies quiet too Dollar the only notable mover, extends recent losses Crude oil retreats from highs as OPEC meeting looms Sterling in the spotlight as Brexit headlines turn cautious Markets calmer on Thanksgiving The ecstatic mood that prevailed in global markets earlier this week seems to have faded for now, with stock markets being essentially flat since Tuesday and most currency pairs confined in narrow trading ranges. There is a sense that investors are waiting [..]

Daily Market Comment – Dollar comeback falters, gold gets burned

Posted on November 24, 2020 at 10:45 am GMT

US PMIs show economy firing up, dollar bounces but falls back Stocks power higher, yet the Fed remains a wild card Kiwi cheers potential changes to RBNZ mandate Gold burned by a stronger greenback and higher yields Strong PMIs send ripples across markets A perfect storm of encouraging news has engulfed global markets early this week, reawakening some animal spirits. The latest AstraZeneca vaccine isn’t as effective as its counterparts but is much cheaper and easier to store, the US [..]

Technical Analysis – GBPUSD unlocks 3-month high; holds in ascending channel

Posted on November 24, 2020 at 8:18 am GMT

GBPUSD came close to breaking the eight-and-half-month high of 1.3487 on Monday, finishing the day at new three-month high slightly below the 1.3400 handle. Moreover, the price has been developing within an upward sloping channel since September 23, holding above the simple moving averages (SMAs) and the Ichimoku cloud. According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped above its neutral threshold of 50, and the MACD oscillator is holding above its trigger and zero lines. On the [..]

Daily Market Comment – New batch of vaccine hopes and the Brexit endgame

Posted on November 23, 2020 at 10:01 am GMT

Fresh vaccine news boosts risky assets, but only barely Vaccines losing their mojo in lifting markets? Sterling cruises higher as speculation around a Brexit deal grows European PMIs not quite as dismal as feared Diminishing positive returns from vaccine news? The vaccine hype train keeps on rolling. AstraZeneca was the latest drug maker to announce its late-stage trial results and even though the efficacy rate was only 70% – much lower than that of Pfizer or Moderna – the news [..]

Week Ahead – Vaccine euphoria vs lockdown reality

Posted on November 20, 2020 at 12:58 pm GMT

There is not much on the agenda next week, but that doesn’t mean things will be quiet as the battle between longer-term vaccine hopes and the present lockdown reality continues to rage. The highlight on the economic calendar will be the latest PMIs, especially from the Eurozone, which will reveal how much damage the latest lockdowns have inflicted. In America, the latest Fed minutes might be viewed as outdated, so it will be all about infection numbers as more states [..]

Daily Market Comment – Stimulus fears after Mnuchin cuts off Fed emergency lifeline

Posted on November 20, 2020 at 9:46 am GMT

Treasury Secretary asks Fed to return unused emergency funds, US futures slip But some relief as Senate Republicans agree to restart talks on new virus relief bill Fresh setback for Brexit talks after Barnier has to self-isolate as time running out Fed and White House clash over emergency programs The Federal Reserve’s powers for fighting the pandemic were severely curtailed on Thursday after Treasury Secretary Steven Mnuchin took the unusual step of not extending funding for many of the central [..]

Technical Analysis – GBPUSD bounces off 1.3200; bullish in short-term

Posted on November 20, 2020 at 8:03 am GMT

GBPUSD has gained little on Thursday and it managed to hold above the 20- and 40-period simple moving average (SMA), with the technical indicators feeding prospects for possible positive short-term trading; the RSI holds above 50, while the MACD continues to strengthen in bullish territory above its trigger line. A move higher could take the pair until the double top at 1.3310, a challenging point over the last week. Higher resistance could next be found around the 1.3475 barrier, [..]

Daily Market Comment – Virus surge overshadows vaccine progress, dollar ticks up

Posted on November 19, 2020 at 10:01 am GMT

Wall Street wobbles as restrictions tighten across the United States Dollar firms across the board amid growing fears of a winter health crisis EU budget row, Brexit angst sap euro and pound Markets subdued as virus surge shows no sign of easing Vaccine optimism struggled to sustain the positive risk sentiment as investors found it hard to ignore the ever-worrying headlines about exploding infection and hospitalization rates in Europe and America. The death toll in the United States from COVID-19 [..]

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