All Articles Tagged - EURGBP

Daily Market Comment – Dollar jumps on solid NFP; markets brace for huge week

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

Greenback and stocks cheer after blockbuster jobs report, but yen tells a different story Loonie nosedives on weak employment data, despite higher oil prices Calendar is low key today, but week is packed: Fed, ECB, UK election, tariff decision Dollar shoots higher as nonfarm payrolls smash expectations It was all about the US employment data on Friday, which easily beat forecasts. Nonfarm payrolls clocked in at 266k, much higher than the expected 180k, with last month’s print also revised up. [..]

Daily Market Comment – US employment data to dictate mood; OPEC can’t lift oil

Posted on December 6, 2019 at 9:08 am GMT

Spotlight falls on the US jobs report today; risks around dollar asymmetric Is European fiscal stimulus not a pipe dream after all? OPEC pledges deeper production cuts, but oil doesn’t ‘buy it’ In Britain, Boris Johnson debates Jeremy Corbyn for the final time Nonfarm payrolls: Mind the asymmetry The main event today will be the US employment report for November, due at 13:30 GMT. Forecasts point to another solid data set, with nonfarm payrolls (NFP) expected to clock in at [..]

Technical Analysis – EURGBP capped by 20-day SMA; short-term bias bearish-to-neutral

Posted on December 4, 2019 at 8:42 am GMT

EURGBP started the month on the downside as buyers could not close above the 20-day simple moving average (SMA) that has been restricting upside corrections over the past four weeks. The short-term bias is currently viewed as bearish-to-neutral as the RSI looks to be distancing itself from its 30 oversold mark to reach its 50 neutral mark, while in Ichimoku indicators, the red Tenkan-sen line is stabilizing slightly below the blue Kijun-sen. On the downside there is a strong support [..]

Technical Analysis – EURGBP grinds lower, but takes a breather near 0.8500

Posted on November 29, 2019 at 11:23 am GMT

EURGBP reversed course in August after touching a decade-high of 0.9325, and has since been trending lower, with price action consisting of lower peaks and lower troughs in recent months. Yet, the bears seem to have lost their mojo near the 0.8500 handle, which also halted the move lower earlier this year. A clear move below that area is needed to re-energize the sellers. Short-term oscillators are in broad agreement that downside momentum is losing steam. The RSI rebounded after [..]

Daily Market Comment – All quiet on the currency front, but key data could spice things up

Posted on November 29, 2019 at 9:24 am GMT

Currencies trade in narrow ranges without news – pound retreats a little Euro area inflation data today may disappoint, spelling more pain for euro Is OPEC ‘managing’ market expectations ahead of next week’s meeting? British pound the sole mover in quiet markets It was a very uneventful session across financial markets, with little to speak of in terms of news and with most currencies trading in awfully tight ranges as American traders stayed home for Thanksgiving. A notable exception [..]

Johnson, Corbyn, and the pound: An election guide – Special Report

Posted on November 28, 2019 at 3:16 pm GMT

On December 12, Britons will head to the polls to elect their new government, in what promises to be one of the most crucial elections in recent history. The result could decide what form Brexit takes, whether there’s a second referendum, and how much fiscal stimulus will be injected into an economy paralyzed by uncertainty. As for the pound, a clear Conservative majority would likely propel the currency higher, but even in that case, any rally may not be sustained [..]

Daily Market Comment – Dollar and stocks jump, but trade worries keep investors on edge

Posted on November 28, 2019 at 9:27 am GMT

Solid US data dispel economic slowdown concerns, send dollar & stocks up Yet, optimism takes a hit after Trump signs Hong Kong bill, enraging China Sterling lifted by Yougov model projecting a clear Conservative victory Dollar and stocks climb on strong data, but China worries curb optimism Worries that the American economy may be headed for a recession took a breather yesterday, after the latest batch of US data beat forecasts, sending the dollar higher alongside Treasury yields as traders [..]

Daily Market Comment – Stocks hit new records, but currencies quiet

Posted on November 26, 2019 at 9:14 am GMT

Markets stay in ‘risk-on’ mode amid positive trade headlines, but risks mounting? Pound pares gains as polls show Labour closing the gap on Tories Light calendar today: tier-two US data and central bank speakers US stocks ride the trade hype train, cruise to new highs The bullish sentiment that enveloped financial markets on Monday persevered, with investors drawing hope from encouraging headlines surrounding the trade talks. The latest reports from Chinese media suggested the two sides have reached a “broad [..]

Daily Market Comment – Dollar powers higher; trade hopes boost risk appetite

Posted on November 25, 2019 at 9:34 am GMT

Greenback soars after latest PMIs reaffirm US economic outperformance Risk appetite recovers as China reportedly prepares to crack down on IP issues Pound slips on soft PMIs, but recovers as polls show Tories extending lead Dollar rips higher after promising PMIs, capitalizes on euro softness The world’s reserve currency outperformed on Friday, after the preliminary US Markit PMIs for November rose by more than anticipated, prompting traders to scale back bets that the Fed will cut rates in the coming [..]

Technical Analysis – EURGBP selling to lose steam; downtrend to stay in place

Posted on November 22, 2019 at 8:25 am GMT

EURGBP recovered a little after taking the shape of a doji near a 6 ½-month trough of 0.8620 on Monday. In momentum indicators, the RSI bounced off its 30 oversold mark, denying to register a new lower low at a time when the MACD continues to strengthen its positive momentum in the negative territory, both suggesting that the selling pressure is losing steam. Trend signals, however, remain negative as the market price is still below all its simple moving averages (SMAs) and well under [..]

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