All Articles Tagged - EURGBP

Daily Market Comment – Euro slips after ECB; stocks stage another comeback

Posted on January 24, 2020 at 9:51 am GMT

Euro/dollar breaks lower as ECB is a touch more dovish than expected European PMIs today were mixed, leaving the euro in search of direction Stocks recover losses, but yen doesn’t move accordingly – excess liquidity to blame? UK PMIs beat forecasts, arguing for the BoE to stay on hold next week Euro drops as Lagarde doesn’t hit back at negative rates As expected, the European Central Bank (ECB) made no changes to its stimulus program yesterday, nor did President Lagarde [..]

Daily Market Comment – ECB meets after BoC sinks loonie; risk appetite wobbles

Posted on January 23, 2020 at 9:28 am GMT

ECB to stay on hold – risks tilted towards a slightly more upbeat narrative BoC teases rate cut, sends loonie plunging Yen jumps as China seals off major city to avoid virus contagion Pound and aussie soar after strong data diminish odds of rate cuts ECB decision: No action, but perhaps a less dovish tone All eyes will be on the European Central Bank (ECB) today, which concludes its policy meeting at 12:45 GMT. No action is expected, so the [..]

Daily Market Comment – Don’t fear the virus; BoC rate decision in sight

Posted on January 22, 2020 at 9:17 am GMT

BoC to stay on hold, but any hints of concern might elicit sharp downside in loonie Risk sentiment recovers as concerns about the virus fade Decent UK data lift sterling, but PMIs will be the casting vote on rate cut BoC meeting: Another asymmetric event for the loonie The main event today will be the Bank of Canada (BoC) rate decision at 15:00 GMT. A press conference by Governor Poloz will follow about an hour later. Rates are almost certain [..]

Technical Analysis – EURGBP consolidates in tight range in near term

Posted on January 22, 2020 at 7:40 am GMT

EURGBP is consolidating within a tight trading range over the last month with an upper boundary at the 0.8590 resistance and the lower boundary at the 0.8450 support level. Currently, the pair is capped by the short-term moving averages and the 23.6% Fibonacci retracement level of the downward wave from 0.9324 to 0.8275 near 0.8520, suggesting a potential breakdown of the channel. The technical indicators are flattening, confirming the recent view in the daily timeframe. The MACD is moving with [..]

Daily Market Comment – Risk appetite hit by China virus fears

Posted on January 21, 2020 at 9:27 am GMT

Yen shines, Asian stocks drop as markets focus on virus outbreak BoJ preserves its limited firepower for a rainy day Busy day ahead: UK data, impeachment, World Economic Forum, and earnings Yen lifted by coronavirus concerns, but is this sustainable? Financial markets traded quietly on Monday, with most currency pairs staying confined in very narrow ranges, as a public holiday in America and the absence of any noteworthy economic data releases in Europe left investors wanting. That all changed overnight [..]

Technical Analysis – EURGBP enters bullish zone but key resistance ahead

Posted on January 14, 2020 at 8:16 am GMT

EURGBP is entering bullish territory as the price is deviating above its shorter-term moving averages (SMAs) at the same time the MACD is turning positive after 5 months. The RSI and the red Tenkan-sen line are resuming their positive momentum, backing this view as well. Before turning optimistic however, the price should first clear the key 0.8600-0.8655 resistance area as any failure to surpass that region could shift the spotlight back to the 0.8470 support level. Lower, the December 9 trough of 0.8392 may [..]

Daily Market Comment – Oil crashes, stocks roar higher as geopolitical nerves calm

Posted on January 9, 2020 at 9:35 am GMT

Yen and gold slump, equities jump as US-Iran tensions take a back seat Dollar outperforms amid fading Fed rate-cut expectations – lots of Fed speakers today In Canada, BoC Governor Poloz delivers remarks and might strike a dovish tone Oil collapses alongside safe havens as worries of US-Iran war fade Global markets continued to price out the risk of an imminent all-out war between the US and Iran yesterday, amid signs that neither side is seeking further escalation. The fact [..]

Technical Analysis – EURGBP tests downtrend line; bearish outlook intact

Posted on January 8, 2020 at 10:30 am GMT

EURGBP is moving slightly lower over the last ten days, following the pullback on the 0.8590 resistance and the descending trend line, which has been holding since the ten-year peak of 0.9324 last August. Currently, the price is developing within the 20- and 40-simple moving averages (SMAs) in the daily timeframe, which act as support and resistance respectively. The MACD oscillator is flattening below the zero line, while the RSI is moving slightly lower below the 50 level, signaling a [..]

Daily Market Comment – Gold levitates higher, Wall Street and dollar retreat

Posted on December 31, 2019 at 9:09 am GMT

Gold freight train rolls past $1520, fueled by decline in dollar & Treasury yields US stocks pull back despite positive trade news – will Trump target the EU next? Have a great New Year! Gold extends gains on weaker dollar, lower yields A broad-based decline in the US dollar remains the dominant theme in the holiday-thinned FX market, even in the absence of any noteworthy headlines. The retreat in the greenback is ‘lifting all boats’, with the New Zealand dollar [..]

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:21 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

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