All Articles Tagged - EURGBP

US Open Note – Dollar marks third cold week as euro shines; US PMIs next into focus

Posted on April 23, 2021 at 1:15 pm GMT

Another bad week for the dollar It’s been the third depressing week for the US dollar as investors had more to chew in Europe. The US economy is widely expected to grow at its fastest annual pace in decades this year as its successful vaccination program and the falling infection and death rates reduce the case for more lockdowns. But this is already old news, and as long as the Fed shows no willingness to step off the accelerator pedal, [..]

Technical Analysis – EURGBP’s footing falters as buyers struggle to gain ground

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

EURGBP’s latest buying interest around the mid-Bollinger band and 50-day simple moving average (SMA) appears feeble and incapable of overturning the predominant bearish demeanour within the pair. The downward slopes in the SMAs are validating an environment of absent positive drive. However, the upbeat short-term oscillators are suggesting that upside sentiment might mature. The MACD is persisting slightly above its red trigger and zero lines, while the RSI is rising over its 50 threshold. Moreover, the stochastic oscillator is proposing [..]

FX market remains prisoner to the vaccination race – Special Report

Posted on April 20, 2021 at 1:59 pm GMT

The dynamics in the FX market have changed this year. The speed of vaccinations has turned into the most powerful element driving currency moves, as investors recalibrate their expectations for economic growth and the timeline of central bank rate increases. Britain and America have done better than Europe and Japan so far, though Europe seems to be closing the gap. Overall, the prospects for the dollar seem bright, but the same cannot be said for the yen. How we got [..]

US Open Note – Dollar remains under pressure; euro hits wall at $1.20

Posted on April 16, 2021 at 12:49 pm GMT

Quieter end to the week; Morgan Stanley releases earnings A calmer session in the forex and stock markets is on the cards today. The US dollar index is struggling around the 91.60 level and the 50-day simple moving average (SMA), which is acting as a crucial level. Dollar/yen rebounded off the 40-day SMA and the 108.40 support, pointing marginally up today. The futures of the S&P 500, Nasdaq 100, and Dow Jones were pointing to a slightly positive open again after a new record high on Thursday. [..]

US Open Note – US retail sales surprises but dollar remains firm

Posted on April 15, 2021 at 1:11 pm GMT

US retail sales’ number stronger than expected The spotlight of the day is the US retail sales of March, which surprisingly increased to 9.8% m/m, surpassing the predictions of 5.9%, versus a contraction of 3% in February. The retail sales control group advanced to 6.9% from -3.4% before. Initial jobless claims came out too – filings for unemployment benefits – declining to 576k in the week ending April 10 from 769k before, the lowest level since the start of the coronavirus crisis in March 2020. The greenback [..]

US Open Note – Stocks soar; dollar continues to slip as US yields fall

Posted on April 14, 2021 at 12:30 pm GMT

US dollar back to losses A downside move in the US dollar and the significant climb in US stock futures are the major themes of the day. The question is if this recovery is being driven by the fall in US yields after the milder-than-feared US CPI data. The US dollar index is approaching the 91.60 level, while dollar/yen is in the process of completing the third straight negative day around 109.00. Futures tracking the S&P 500, Nasdaq 100 and Dow Jones were pointing to a slight [..]

Technical Analysis – EURGBP sellers attempt to dominate latest rally

Posted on April 14, 2021 at 9:53 am GMT

EURGBP spiked just shy of the resistance section of 0.8713-0.8742, struggling also to defeat the 0.8700 handle as sellers coerced the pair lower. The demeanours of the simple moving averages (SMAs) are shielding the positive structure and the forthcoming bullish crossover between the 200- and 100-period SMAs could bolster this outlook. The flattening Ichimoku lines are indicating a loss of bullish momentum, while the short-term oscillators point to weakened positive impetus, and are suggesting a slight price pullback. The MACD, [..]

US Open Note – Dollar lacks direction amid market calm; US stocks freeze

Posted on April 12, 2021 at 1:00 pm GMT

Dollar flattens in absence of data today; pound rises A calm day is on the table as dollar/yen is stable around 109.35 and the US dollar index is moving horizontally and marginally below the 200-day simple moving average (SMA) as the US data in the next days may drive the greenback even higher. The US Congress is starting to work on the infrastructure package with President Biden meeting centrist lawmakers from both parties. It is noteworthy that the US fiscal stimulus will be [..]

US Open Note – Dollar drives on a slippery road as euro fights key resistance

Posted on April 8, 2021 at 1:07 pm GMT

Risk-on weighs on dollar Reduced appetite for safety kept the dollar pinned on the downside during the European trading hours as the FOMC meeting minutes reiterated late on Wednesday what markets already know about the progressive recovery in the US economy and the Fed’s commitment to keeping policy super accommodative until it sees sustainable growth. As usual, the minutes also highlighted that any upside inflation pressures this year will likely be transitory and interest rates will not rise before 2024. [..]

Technical Analysis – EURGBP climbs above 0.8600, breaking descending channel

Posted on April 7, 2021 at 1:13 pm GMT

EURGBP is ticking considerably higher above 0.8600, surpassing the medium-term falling channel and the 20- and 40-day simple moving averages (SMAs). The RSI is jumping above the neutral-threshold of 50, while the stochastic is approaching the overbought area, suggesting an overstretched market in the short-term. Steeper increases could send the market until the 0.8730-0.8790 resistance area before rising towards the 200-day SMA, currently at 0.8920. Marginally above this zone lies the 0.8946 barrier, taken from the inside swing low from [..]

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