GBPUSD

Technical Analysis – GBPUSD falls below 1.29; could attempt to erase losses

Posted on November 13, 2018 at 7:40 am GMT

GBPUSD declined back below the Ichimoku cloud and the 1.2900 key level on Monday, erasing part of its recent strong rebound. Momentum indicators, however, signal that the market may attempt to retrace its losses in the short-term as the Stochastics are on track to create a bullish cross in the oversold territory, below 20, while the RSI looks to be changing direction to the upside and towards its 50 neutral mark. Yet, as long as the RSI holds below 50, negative corrections [..]

UK Jobs data to stay buoyant in September – Forex News Preview

Posted on November 12, 2018 at 4:38 pm GMT

While Brexit uncertainty dampens investment sentiment in Britain, business leaders continue to offer higher wages to attract new workers as skills shortages seem to restrict the availability of candidates. In August, the unemployment rate held at the lowest in 43 years and average earnings picked up steam for another month, with forecasts suggesting that September’s employment report will not tell a different story. On Tuesday at 0930 GMT, the Office for National Statistics is expected to say that the unemployment rate stuck at 4.0% in the three [..]

US Open Preview – Dollar index registers fresh highs as pound and euro struggle; oil holds up

Posted on November 12, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was overperforming early in the European session on Monday as political uncertainties in Europe and strong optimism on the US economy, persuaded traders to invest more in the greenback despite Trump’s Republicans losing control of the House of Representatives last week. The dollar index gained 0.60% to rise as high as 97.57, a level never seen since June 2017. Dollar/yen spiked to a five-week high of 114.20, but it soon returned to 113.91, near [..]

European Open Preview – Dollar sails past 16-month highs; Brexit and Italy cast shadows on sterling and euro

Posted on November 12, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar soared to fresh 16-month highs against a basket of six major currencies on Monday, building on its gains from Friday, even without any fresh catalyst or news out of the US. Instead, the greenback seems to be taking advantage of softness in the pound and euro, amid Brexit and Italian uncertainties respectively. Elsewhere, the commodity-linked currencies retreated, with the loonie feeling the brunt of the pain as oil prices [..]

Week Ahead – After central banks and midterms, focus to move back to economic data

Posted on November 9, 2018 at 1:58 pm GMT

With central bank meetings and the US midterm elections out of the way, economic data will return to the forefront next week. Monthly stats on inflation, industrial output, employment and retail sales will dominate the calendar, while GDP numbers out of Japan will be watched for a possible contraction in Q3. Italian politics will also be on investors’ radar over the coming week as the country has until November 13 to submit a redraft of its budget or risk EU [..]

US Open Preview – Pound drops momentarily below 1.30 on Brexit woes; oil set for fifth weekly loss

Posted on November 9, 2018 at 1:04 pm GMT

Here are the latest developments in global markets: FOREX: The British economy expanded by 1.5% y/y in the third quarter as expected, preliminary data showed. The UK’s trade deficit narrowed, and the manufacturing output was slightly better than forecast in September. However, the evidence on business investment was disappointing and today’s discouraging Brexit headlines were enough to push pound/dollar straight down to 1.2988 before a reversal to 1.3035 (-0.15%). Particularly, capital expenditures decreased by 1.2% q/q in Q3 compared to a 0.2% expected rise, printing the biggest loss since Q1 2016. [..]

European Open Preview – Dollar cruises higher after FOMC; UK GDP in the spotlight

Posted on November 9, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is little changed against a basket of six major currencies on Friday (+0.06%), consolidating the gains it recorded in the previous session as the Fed signaled it remains on track to meet its rate-path projections. Meanwhile, the defensive yen is outperforming, as risk appetite seems to have soured once again. In Canada, the loonie continued to track oil prices lower, touching a fresh two-month low against the dollar. STOCKS: Wall Street [..]

UK preliminary GDP due as Brexit talks pick up momentum – Forex News Preview

Posted on November 8, 2018 at 4:04 pm GMT

The first estimate of UK GDP for Q3 will hit the markets on Friday, at 0830 GMT. Forecasts point to an acceleration in growth, which may help sterling to extend its latest gains. That said, economic data in general are likely to play second fiddle to any developments in the Brexit negotiations, with politics likely to overshadow economics in driving the pound over the coming weeks. The UK economy is anticipated to have grown by 0.6% on a quarterly basis [..]

US Open Preview – Dollar remains bullish ahead FOMC rate decision

Posted on November 8, 2018 at 12:59 pm GMT

Here are the latest developments in global markets: FOREX: Expectations that the Fed will continue to signal further monetary tightening when it keeps rates steady at the conclusion of the FOMC meeting later today probably helped the dollar index to move higher by 0.22% as the market took a breath after the US midterm elections. Dollar/yen traded up by 0.13% at 113.66, near one-month highs. Meanwhile in the Eurozone, the European Commission revised the bloc’s economic growth for 2019 downwards to 1.9% y/y from 2.0% before, and [..]

European Open Preview – Dollar bounces back after midterms and ahead of Fed decision

Posted on November 8, 2018 at 8:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar index pared early losses to close the day higher on Wednesday and is also up by 0.27% on Thursday, drawing strength from a surge in US bond yields, which amplifies the dollar’s attractiveness from a relative rates perspective. In the UK, the pound extended its recent gains as Brexit optimism remained elevated. Meanwhile, the antipodeans – aussie and kiwi – outperformed, buoyed by strong risk appetite, speculation that the trade [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms