All Articles Tagged - EURGBP

Euro goes into freefall; have investors become too pessimistic? – Special Report

Posted on November 25, 2021 at 1:39 pm GMT

The euro’s woes just keep getting worse and worse. The single currency has ploughed more than one-year lows against the US dollar and pound, and six-year lows versus the Swiss franc. Expectations of diverging monetary policies had been weighing for some time, but now there are fresh doubts about the growth outlook that also have investors worried. The resurgence of virus cases in many parts of Europe has caught markets by surprise, endangering the euro bloc’s already fragile recovery. But [..]

Technical Analysis – EURGBP consolidates around 21-month low

Posted on November 24, 2021 at 4:31 pm GMT

EURGBP is edging sideways across a support base shaped between the near 21-month low of 0.8378 and the 0.8384 barrier. The 100- and 200-period simple moving averages (SMAs) are endorsing the negative picture, while the diving 50-period SMA is indicating that the bearish trend has the upper hand. The Ichimoku lines are indicating that directional forces are somewhat lacking, whereas the short-term oscillators are suggesting bullish momentum is improving. The MACD, in the negative zone, continues to advance above its [..]

US Open Note – Dollar climbs as prices and yields tick higher

Posted on November 17, 2021 at 2:49 pm GMT

Global inflation risks prevail, Canada delivers CPI data The US economy appears to be recovering well in the last quarter of the year and subsequently, speculation about a fresh Fed Chairman being appointed seems to be fading in the horizon. Yesterday’s surprise surge in US retail sales by 1.7% m/m in October hints that consumption remains at elevated levels. However, these figures are nominal as rising price pressures persist. The dollar index has touched 96.24, levels last seen in July [..]

Daily Market Comment – Euro in freefall as outlook dims; pound gains on inflation jump

Posted on November 17, 2021 at 9:59 am GMT

Euro tumbles again as dovish ECB and mounting worries weigh Pound modestly higher after UK inflation tops 4% Dollar reigns supreme as strong US data run continues Euro can’t catch a break The euro is sinking, stretching its week-long slide and breaching the $1.13 level for the first time since July 2020, as investors turn more bearish on the Eurozone outlook. The single currency had already come under heavy selling pressure from last week’s big jump in US inflation, which [..]

Technical Analysis – EURGBP plummets to 20-month low

Posted on November 17, 2021 at 9:21 am GMT

EURGBP has been trending downwards since August 2020. Although the pair has adopted a more sideways pattern in the last eight months, the short-term picture has started to deteriorate again as the price is fluctuating close to record lows. While EURGBP is pivoting near the 20-month low of 0.8402, momentum indicators suggest an imminent bearish bias. The MACD histogram is below zero and its red signal line, and the RSI is flatlining near the 30-oversold area. Moreover, the price is currently trading below the [..]

Technical Analysis – EURGBP capped by its 200-SMA; bullish bias arises

Posted on November 8, 2021 at 9:45 am GMT

EURGBP has managed to partially rebound after its long-term downtrend halted at the 20-month low of 0.8402. Although the pair has been gaining ground in the short term, it is currently being held down by its 200-day simple moving average (SMA). The pair’s positive short-term trend is likely to strengthen as the immediate bias looks bullish as well, with the momentum indicators further reinforcing this view. The MACD histogram is above both zero and its red signal line, while the [..]

Technical Analysis – EURGBP picks up and oversteps 200-MA

Posted on November 2, 2021 at 4:12 pm GMT

EURGBP is currently maintaining a positive bearing and is a tad above the 200-period simple moving average (SMA) at 0.8505. The upturn in the 100-period SMA and the nearing of a bullish crossover of it by the rising 50-period SMA is endorsing the recently growing uptrend. The climbing Ichimoku lines are indicating positive drive is present, while the short-term oscillators are promoting mixed signals in momentum. The MACD is strengthening above its red trigger line in the positive zone and [..]

ECB plays down rate hike scenario but euro flies to fresh session highs – US Open Note

Posted on October 28, 2021 at 2:21 pm GMT

Global flattening of yield curves A flattening of global bond yield curves gained momentum on Thursday, ratcheting concerns about the pace of economic growth as more central banks start to signal higher interest rates in the foreseeable future amid the persisting inflationary pressures. Specifically, the 2-year Treasury yield climbed to the highest since March 2020 on Wednesday, narrowing the gap with the 10-year yield, while the Canadian and Australian equivalents marked a multi-year daily increase following the hawkish rate statement from [..]

Technical Analysis – EURGBP finds foothold around 19½-month lows

Posted on October 20, 2021 at 1:29 pm GMT

EURGBP is currently pushing above the mid-Bollinger band at 0.8442, following a two-and-a-half-week decline that found its feet around the 0.8418 mark. The falling simple moving averages (SMAs) are endorsing the active downtrend despite buyers trying to make a comeback. The short-term oscillators are reflecting the recent pickup in positive forces. The MACD, in the negative region, is above its red trigger line, while the RSI is making efforts to break above the 50 threshold. The stochastic oscillator’s positive charge [..]

US Open Note – Yen still plunges; oil heads towards $82.00

Posted on October 15, 2021 at 1:07 pm GMT

Dollar index on mute today; US retail sales surprised The dollar index is hovering around 94.00 today, following two red days; however, dollar/yen is heading sharply higher towards a fresh three-year high around 114.20 due to a weakened Japanese yen. US retail sales unexpectedly rose 0.7% for September versus an upwardly revised 0.9% the prior month. A dovish Bank of Japan and growing 2-year U.S.-Japan rate differentials continue to be important factors. US futures are suggesting another positive day, after strong earnings releases. The single currency [..]

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