All Articles Tagged - EURGBP

European Session – Sterling jumps on speculation of hike coming sooner; Dollar falls on “dovish” hike

Posted on March 16, 2017 at 4:06 pm GMT

The dollar weakened today as the Federal Reserve disappointed in its forward guidance following the rate hike announcement. The euro initially stood stronger as it was helped by the outcome of Dutch elections, though it didn’t manage to maintain momentum later in the day. Sterling was boosted after the Bank of England meeting, while the day saw the release of numerous economic figures, such as jobless claims out of the US, for traders to digest as well. The dollar index [..]

European Session – Stronger sterling despite weakening wage growth; All eyes on Fed guidance

Posted on March 15, 2017 at 3:46 pm GMT

Today saw the release of important jobs data out of the UK as well as inflation and retail sales data out of the US. Meanwhile, market participants will be closely paying attention to today’s FOMC meeting, as well as developments that have to do with the Dutch elections, which are also taking place today. The dollar was weaker against a basket of currencies during today’s European session trading. It seems that traders are awaiting the outcome of the Fed’s meeting [..]

European Session – Stronger dollar ahead of Fed meeting; Political uncertainty dominating Europe

Posted on March 14, 2017 at 3:56 pm GMT

There were some economic data releases during today’s European session trading but nothing significant to ponder on as most investor attention remains on the Federal Reserve’s two-day meeting which commences later today. The dollar index, which measures the US currency’s strength relative to major counterparts, was last at 101.59, up three-tenths of a percent for the day. A Fed hike is widely expected by market participants and focus now shifts on the kind of message the central bank will deliver. [..]

European Session – Strong US jobs growth as rate hike seems to had been already priced in

Posted on March 10, 2017 at 4:11 pm GMT

As anticipated, the much-discussed US jobs report was first and foremost in investor minds today as, among others, it was widely viewed as the last factor that could sway the Fed’s final decision next week away from what seemed imminent, that is to hike rates in its upcoming meeting. Besides that, market participants also had to digest the jobs report out of Canada and some data out of the UK. The US nonfarm payrolls report showed an addition of 235,000 [..]

European Session – Euro gains on less dovish Draghi, Macron’s lead

Posted on March 9, 2017 at 4:00 pm GMT

The main event for the day was the European Central Bank’s policy meeting. The ECB kept monetary policy on hold as expected while its President, Mario Draghi, struck a less dovish tone than usual that helped boost the euro. In terms of economic releases, US initial jobless claims gathered most investor attention. The ECB left its key interest rates unchanged as it convened for its policy meeting today (refinancing rate at 0%, deposit rate at -0.4% and marginal lending rate [..]

European Session – Dollar surges on strong ADP jobs data; Pound steadies after UK budget

Posted on March 8, 2017 at 3:49 pm GMT

Expectations about the pace of Fed rate hikes once again dominated European trading on Wednesday after robust US data underlined the case for near-term monetary tightening. The US dollar surged well past 114 yen on the data, while the British pound was able to find some support from the UK government’s first full budget after Brexit. After a slow start to the day, the dollar reversed gear to become the strongest performing currency by late European session. The greenback was [..]

Technical Analysis – EURGBP bullish after hitting a new eight-week high

Posted on March 8, 2017 at 8:16 am GMT

EURGBP is currently up from the day’s open. Should it close higher, it will mark the fourth straight day of advances for the pair which set a new eight-week high yesterday. Looking at the Ichimoku analysis, the Tenkan-sen line (red) has recently crossed above the Kijun-sen (blue). This is a positive alignment that’s generally perceived as a bullish near-term signal. The RSI indicator reinforces this signal as it is in bullish territory, well above the 50 neutral mark (at 62). [..]

European Session – Dollar advances despite worsening trade gap

Posted on March 7, 2017 at 4:13 pm GMT

The dollar was broadly stronger today relative to major counterparts though, with the exception of pound / dollar, its gains were moderate and evenly spread. US and Canadian trade data, as well as Eurozone GDP numbers were on investors’ radar today. US trade data for January showed that the trade deficit rose to a near five-year high as increasing oil prices lifted the import bill for the US. This hints that net exports, a component in the calculation of GDP, would [..]

European Session – Euro hurt by never ending French presidential drama; US jobs report to cement rate hike

Posted on March 6, 2017 at 3:50 pm GMT

In the absence of economic data releases, barring the Eurozone Sentix investor confidence index and factory orders out of the US, market participants’ attention remained on geopolitical tensions and on the last piece of the puzzle to cement an interest rate hike during the FOMC meeting scheduled to take place next week, namely Friday’s nonfarm payrolls report. The dollar index, which tracks the greenback’s performance against the currencies of six major trading partners, was back up today after experiencing a [..]

European Session – Euro strengthens as Macron rises in the polls; Yellen in focus

Posted on March 3, 2017 at 4:50 pm GMT

Today’s European session was a relatively quiet one in terms of economic data with market participants mostly focusing on what’s to come later in the day, namely Fed Chair Janet Yellen’s speech in Chicago. Services PMI data, including the composite one for the Eurozone did gather some attention though. The US non-manufacturing PMI for February came in at a healthy 57.6, surpassing expectations and January’s 56.5. The figure points to growth in the services sector for the eighty-fifth month in [..]

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