All Articles Tagged - EURGBP

Daily Market Comment – Dollar extends retreat ahead of Fed minutes

Posted on April 7, 2021 at 8:36 am GMT

Dollar and pound give back ground as bond yields cool down Euro and yen enjoy a relief rally – can it last? Stocks trade quietly, oil shaky, FOMC minutes in sight Dollar and sterling hit by falling yields The new quarter has turned the tables in the currency market, as the rally in bond yields that turbocharged the dollar along with sterling last quarter seems to have run out of fuel for now, breathing some life back into the devastated [..]

US Open Note – European stocks in cheerful mode; dollar is still the king despite pullback

Posted on April 6, 2021 at 1:15 pm GMT

European indices hit record highs, but economic outlook still bleak The European equities had a pleasant start after a long weekend on Tuesday, rushing to catch up with the rally in US rivals, sending the STOXX 600 and the German DAX 30 to fresh record highs early on Tuesday. The stock rally emerged after a barrage of US data provided evidence that the recovery in the biggest economy of the world is picking up steam, while news that some Democrats favor [..]

US Open Note – Dollar’s bullish trend is your friend; pound at 2-week highs

Posted on April 5, 2021 at 1:07 pm GMT

Dollar’s bullish run could see more extensions Stock and bond trading will resume at normal hours today in the US, as European traders will remain out of the office to celebrate Easter Monday. Following the stellar NFP release on Friday, the ISM non-Manufacturing PMI for March will probably extend its upward trajectory comfortably within the expansion area at 14:00 GMT, backing the progress outlined by the Markit PMI readings, which will also see their final revision a few minutes before [..]

US Open Note – Stocks freeze, dollar flashes green and oil stabilizes

Posted on March 31, 2021 at 1:07 pm GMT

Risk-off tone ahead of US employment data and Biden’s stimulus speech Markets today appear withdrawn and seem to be conveying a sense of calm before the storm as investors anxiously await the US ADP employment results and the details of the next stimulus from President Joe Biden. The fairly muted risk appetite in stocks has benefited the greenback, providing it with some traction after it temporarily lost its dominance, plunging from today’s high of 93.44 as the European trading session [..]

Daily Market Comment – Stocks grapple with liquidation fears, dollar strength persists

Posted on March 29, 2021 at 9:03 am GMT

Leveraged fund blows up, sending ripples across equity markets Yet, the real risk this week may be signals for US tax increases Calmer tones prevail in FX market, with dollar finding some love Forced liquidations keep stock markets on edge Global stock markets closed near record highs on Friday, but it was a stormy ride with lots of volatility. It turns out that a leveraged fund named Archegos Capital blew up, sparking a wave of forced selling as its positions [..]

Technical Analysis – EURGBP range-bound; bulls challenge 200-MA

Posted on March 24, 2021 at 4:25 pm GMT

EURGBP is hovering below the capping 200-period simple moving average (SMA) on the four-hour chart after its recent attempts to overcome the long-term average were unsuccessful. The flattening Ichimoku lines are suggesting that positive momentum is waning. However, a nearing bullish crossover of the 100-period SMA by the rising 50-period one could provide the necessary boost for the pair to surpass the curbing obstacle. The short-term oscillators are conveying conflicting signals in directional momentum. The MACD, far above the zero [..]

US Open Note – Dollar steady, US futures struggle and euro slips

Posted on March 19, 2021 at 1:29 pm GMT

Dollar in horizontal mode; euro below 1.19 A quiet day is on the cards, as reflected in forex and stock markets, with the US dollar moving slightly lower versus the Japanese yen below 109.00, while the dollar index is hovering above the 50- and 100-day simple moving averages (SMAs). Euro/dollar has slipped below the 1.1900 handle and is trying to break to the downside the nine-month ascending channel. Pound/dollar is moving with weak momentum while euro/pound is climbing above the [..]

Week Ahead – European PMIs to chart the euro’s course

Posted on March 19, 2021 at 12:51 pm GMT

It seems like a relatively calm week for global markets. The sole central bank meeting will be that of the Swiss National Bank, which will likely be thrilled about the recent demolition of the franc. There is also an overload of economic data on the agenda, the most important of which will be the PMI surveys out of the Eurozone. Fed stays cautious, but traders don’t buy it The FOMC meeting was a rollercoaster ride for markets. The Fed went [..]

Daily Market Comment – Wall Street hits new records, FX market quiet

Posted on March 16, 2021 at 9:33 am GMT

Stock market winning streak continues as yields stabilize European nations suspend AstraZeneca vaccine, but euro undaunted US retail sales coming up as traders lay low ahead of FOMC meeting Stable yields give equities the green light The equity gravy train keeps on rolling. All the major indices on Wall Street aside from the Nasdaq hit another record high yesterday as bond yields stabilized and economic optimism ruled the day. The accelerated pace of vaccinations in America and the imminent spending [..]

Technical Analysis – EURGBP hovers near lows, downtrend still in force

Posted on March 15, 2021 at 4:24 pm GMT

EURGBP rebounded in recent sessions, after touching the one-year low of 0.8540. Despite the latest bounce though, negative forces are still dominant as the price structure of lower highs and lower lows remains intact. The pair is also trading below all its simple moving averages (SMAs) and below a downtrend line drawn from the December highs. Short-term oscillators reflect fading downside momentum. The RSI has rebounded from near 30, while the MACD is rising above its red trigger line, although [..]

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