GBPUSD

European Open Preview – Euro softens as ECB ends QE, but turns cautious

Posted on December 14, 2018 at 8:50 am GMT

Euro ticks down as ECB ends QE, but downgrades balance of risks Aussie and kiwi fall sharply after key Chinese data disappoint EU refuses to renegotiate Brexit deal; sterling rallies may remain short-lived US retail sales data due out today Euro inches lower despite Draghi trying his best not to seem dovish The European Central Bank (ECB) officially announced the end of its crisis-era QE program yesterday, as expected. The Bank revised down its growth and inflation forecasts, though that [..]

European Open Preview – Pound advances as May survives; ECB meeting eyed

Posted on December 13, 2018 at 8:39 am GMT

Sterling advances as PM May survives leadership contest, but sustained rally unlikely ECB meets today; Draghi’s tone will be crucial for the euro SNB meets as well, likely to maintain a dovish stance Meanwhile, reports China may open its economy boost risk sentiment Pound soars as May survives, but odds of a sustained rally slim Sterling surged on Wednesday, as it became increasingly clear throughout the session that PM May would survive the no-confidence motion, amid a plethora of Tory [..]

European Open Preview – Pound under pressure as Tories trigger leadership contest

Posted on December 12, 2018 at 9:12 am GMT

Sterling near 20-month lows as Conservative lawmakers trigger no-confidence vote in Theresa May; ballot to be held today Risk appetite recovers as Trump and China stoke hopes for a deal Euro remains on the back foot ahead of tomorrow’s ECB meeting US inflation data on tap Sterling crumbles as Tories trigger leadership challenge The British pound sank to a fresh 20-month low versus the dollar on Tuesday, following reports that “rebels” within Theresa May’s Conservative party nearly have the numbers [..]

European Open Preview – Brexit vote delayed and pound pays the price

Posted on December 11, 2018 at 9:03 am GMT

US-China discuss trade talks schedule, but markets keep risk-off behavior May delays Brexit vote in Parliament; pound drops below 1.26 Italian budget adjustments not ready yet US-China discuss roadmap for trade talks The Chinese Vice Premier, Liu He, is said to have exchanged views with the US Trade Representative, Robert Lighthizer and the US Treasury Secretary, Steven Mnuchin, on how to move trade talks forward on Tuesday, giving some grounds for optimism that a worsening trade war is not in the interest of either nation. [..]

Technical Analysis – GBPUSD hovers above 20-month low; strongly bearish in long-term

Posted on December 11, 2018 at 7:25 am GMT

GBPUSD tumbled to a fresh 20-month low of 1.2505 on Monday, creating a strong negative move below the previous multi-month bottoms. The bearish outlook was confirmed by the lower low and the pair looks ready to maintain and possibly extend its sizeable recent losses in the next sessions. The momentum indicators are endorsing this view, despite today’s weak upside opening. The MACD oscillator holds below the trigger and zero lines, strengthening its movement, while the stochastic oscillator returned lower again near its oversold zone. If the [..]

Pound could shrug off key data as Brexit vote tops agenda – Forex News Preview

Posted on December 7, 2018 at 2:01 pm GMT

Next week should be a busy one for the British pound as a crucial vote in Parliament will likely open a new era for the Brexit story and May’s future as a leader. Key data releases such as GDP growth and employment readings are scheduled for delivery as well, but investors will probably be too obsessed with the Brexit story to react to the numbers. While Theresa May is pushing hard to persuade lawmakers that the deal agreed with the EU is the best possible outcome reached after [..]

Week Ahead – Pound to take centre stage as Brexit vote looms; ECB meets amid worsening Eurozone outlook

Posted on December 7, 2018 at 2:00 pm GMT

The pound looks set for even choppier times as British MPs will next week get to vote on Theresa May’s much criticized Brexit deal, while there will also be a flurry of UK data for traders to keep up with. The euro will also be in focus as the European Central Bank is due to hold a scheduled policy meeting. The Swiss National Bank will be another central bank deciding on rates next week. In the US, inflation and retail [..]

European Open Preview – Dollar moves off lows ahead of US jobs report but weighed by talk of Fed pause

Posted on December 7, 2018 at 9:14 am GMT

US dollar edges up from lows as risk sentiment improves, but expectations that the Fed could soon pause its rate hike cycle limit gains US Treasury yields fall sharply on Wall Street Journal report that Fed is considering “wait-and-see” approach Pound steady despite May pondering whether to delay Brexit vote Oil under pressure again as OPEC struggles to reach output agreement, awaits for Russia to join talks before making decision Dollar firmer ahead of nonfarm payrolls report The US dollar [..]

Special Report – As UK Parliament descends into chaos, pound finds support from rising chances of no Brexit

Posted on December 6, 2018 at 2:08 pm GMT

The completion of the Withdrawal Agreement between UK and EU negotiators was meant to signal the end of months of uncertainty, quell fears of a no-deal Brexit, and set the groundwork for talks on future relations. However, Prime Minister Theresa May’s hard-fought deal has come under heavy attack from all sides of the political spectrum in the UK, with Westminster descending into chaos amid a fractious parliament. The endless Brexit headlines have generated a lot of choppy trading for the [..]

European Open Preview – Risk sentiment sours; OPEC summit front and center

Posted on December 6, 2018 at 8:33 am GMT

Risk appetite crumbles as US arrests Huawei CFO, generating worries of re-escalation in the trade conflict Today, all eyes are on OPEC’s meeting (1200 GMT); expectations for a production cut are elevated Loonie nosedives to a 1½-year low as BoC shifts to a more cautious stance Risk appetite falters on fears of “trade war” re-escalation After a relatively calm Wednesday, risk appetite deteriorated once more during the Asian session on Thursday, following news that the CFO of the Chinese tech [..]

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