All Articles Tagged - EURGBP

Daily Market Comment – Trump teases negative rates, spooks dollar

Posted on November 19, 2019 at 9:04 am GMT

Dollar drops as Trump meets Powell to discuss interest rates and FX US stocks shrug off negative trade headlines, claim new record highs Aussie pulls back after RBA minutes, but recovers Dollar retreats as Trump discusses negative rates with Powell Fed Chairman Jay Powell met with President Donald Trump on Monday to discuss the economy. The latter then tweeted out that the conversation centered around how high US interest rates are relative to other advanced economies, the prospect of negative [..]

Daily Market Comment – Markets stay in a risk-on mood; pound climbs

Posted on November 18, 2019 at 9:30 am GMT

Stock markets climb, safe havens drop as trade optimism lingers Sterling pushes higher as Brexit Party stands down – focus remains on election polls Dollar ticks down after mixed retail sales, but broader picture still promising US stocks to open at yet another record high; yen retreats Risk appetite remained firm at the end of last week, with all three of the major US stock indices closing at new records, after a high-ranking White House official played up the prospect [..]

Daily Market Comment – Germany dodges a recession, but euro remains skeptical

Posted on November 14, 2019 at 9:32 am GMT

Technical recession avoided in Germany, but outlook for euro still bleak American stock markets hit new records, ignoring gloomy trade news Lots of Fed-speak today, starring Powell, Clarida, and Williams – the Fed’s ‘top 3’ Germany dodges a recession, but euro can’t catch a break Europe’s largest economy narrowly escaped a technical recession in Q3, with GDP growth clocking in at 0.1% in quarterly terms, overcoming the consensus for a negative 0.1% print. It appears that the recession in the [..]

Daily Market Comment – RBNZ catapults kiwi higher; Trump decides on EU tariffs

Posted on November 13, 2019 at 9:17 am GMT

Kiwi outperforms as RBNZ surprisingly refrains from cutting rates Markets in a slight risk-off mood as trade doubts reemerge Today: Trump decides on EU tariffs, Fed chief Powell testifies, and US CPI data RBNZ surprisingly keeps rates unchanged, propels kiwi higher To the surprise of many, the Reserve Bank of New Zealand (RBNZ) kept its policy rate unchanged overnight, confounding forecasts and market expectations, as a rate cut was priced in with an ~80% probability. Even though policymakers kept the [..]

Daily Market Comment – RBNZ to slash rates; more blues for the kiwi?

Posted on November 12, 2019 at 9:10 am GMT

Kiwi underperforms as investors bet that RBNZ will cut rates overnight Pound rejoices as Brexit party warms up to Tories, but risks seem tilted to the downside UK jobs data, Germany’s ZEW survey, and Fed-speak today RBNZ set to cut rates after inflation expectations drop The Reserve Bank of New Zealand (RBNZ) will announce its rate decision early on Wednesday, at 01:00 GMT. A rate cut seems quite likely, after a survey released overnight showed that the nation’s 2-year inflation [..]

UK jobs and inflation next after weaker GDP but sterling may be indifferent – Forex News Preview

Posted on November 11, 2019 at 2:04 pm GMT

Sterling drifted lower after two out of nine MPC members voted for an immediate rate cut on Thursday at the Bank of England’s policy meeting, increasing speculation that the British central bank could finally join the dovish camp. Following Monday’s disappointing GDP report, inflation, employment and retail sales data are expected to shed more light about whether a looser monetary policy is indeed needed. Yet, according to data forecasts, such a scenario may not take shape, at least not in the near term, [..]

Daily Market Comment – US stocks cruise to new records, but Hong Kong weighs

Posted on November 11, 2019 at 9:25 am GMT

Risk aversion strikes back as Hong Kong protests intensify and trade doubts resurface Dollar advances without new catalysts, loonie stumbles on weak data UK GDP numbers due, but sterling keeps its sights on election polls Hong Kong jitters send global equities back down, lift yen US stock markets levitated to new records on Friday, undeterred by some remarks from President Trump that he hasn’t decided yet whether he is willing to roll back tariffs on China to get the ‘phase [..]

Technical Analysis – EURGBP short-term bias weaker, nearby resistance keeps pressuring

Posted on November 5, 2019 at 9:57 am GMT

EURGBP is trading in a tight narrow range of 0.8574-0.8676 which is part of the three-month-old bear trend. The soft upward move in the RSI and the MACD reflects a weaker short-term bearish bias but a closing price above the 0.8676 resistance could attract some buying interest towards 0.8753, which is the 23.6% Fibonacci retracement of the downleg from 0.9324 to 0.8574. Slightly higher, a breach of the 0.8800-0.8860 noisy area, where the 38.2% Fibonacci and the longer-term SMAs are [..]

Technical Analysis – EURGBP consolidates as negative picture weakens

Posted on October 31, 2019 at 9:06 am GMT

EURGBP’s directional momentum has evaporated after buyers brought the one week sell off to a halt at 0.8575 on October 17, shifting the pair into a sideways market that has lasted for two weeks. Despite this, the downward slopes in the 100- and 200-period simple moving averages (SMAs) support the existing negative sentiment as sellers are in the process of pushing below the 50-period SMA. The mostly flat MACD near the zero line is barely above its red trigger line [..]

Technical Analysis – EURGBP looks for a rebound but nearby resistance seems strong

Posted on October 24, 2019 at 7:22 am GMT

EURGBP is searching for a new lower trough around the 0.8600 support area to add more credibility to the downward pattern started from the 10-year high of 0.9323. The fast-Stochastics and the RSI hint that the odds for an upside correction are rising as the former has already rounded up in the oversold area and the latter has been flattening for a while around its 30 oversold mark. Resistance around 0.8655, where the 78.6% Fibonacci of the upleg from 0.8470 [..]

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