All Articles Tagged - EURGBP

Daily Market Comment – Yen in distress amid trade optimism and BoJ easing talk

Posted on September 11, 2019 at 8:10 am GMT

Trade optimism remains the dominant theme, keeping FX market in a risk-on mood Yen underperforms on speculation of BoJ easing next week Oil retreats after Trump fires hawkish national security advisor Bolton Markets stay in a risk-on mood as trade optimism lingers The FX market continues to dance to a ‘risk-on’ tune, with moves in recent days being characterized by haven currencies such as the yen retreating, while trade-sensitive currencies like the aussie and the kiwi recover lost ground. Investors [..]

Daily Market Comment – Pound recovers as no-deal Brexit fears recede, for now

Posted on September 10, 2019 at 8:06 am GMT

Sterling outperforms as Johnson strikes a slightly more conciliatory tone Euro advances on reports Berlin is considering fiscal stimulus Safe havens retreat as US’ Mnuchin reiterates his optimism on trade Sterling cruises higher as no-deal Brexit chances recede, for now The political rollercoaster continues in the UK. Prime Minister Johnson lost another vote in Parliament yesterday, with lawmakers denying his request for a snap election again. Likewise, the legislation forcing the government to ask for a Brexit extension if no [..]

Technical Analysis – EURGBP violates key borders; bearish near oversold zone

Posted on September 10, 2019 at 7:27 am GMT

EURGBP registered losses for the fourth consecutive week and bearish signals became stronger as the price failed to return above the upward support line, crossing instead under its shorter-term simple moving averages (SMA) and the Ichimoku cloud. The 50% Fibonacci of the upleg from 0.8470 to 0.9323 managed to confidently curb downside movements on Monday and although the Stochastics are currently preparing to exit the oversold territory, the short-term bias remains skewed to the downside as the MACD maintains negative momentum under its red signal [..]

Daily Market Comment – Brexit the only game in town as markets wait for ECB

Posted on September 9, 2019 at 8:31 am GMT

All eyes on the UK as Boris takes another shot at securing a snap election Dollar little changed after NFP and Powell don’t move the needle – ECB in focus Markets stay in risk-on mood despite soft Chinese trade data Pound cools before another UK Parliament battle Never a dull moment in British politics. After a stormy week that saw the government lose its majority and suffer multiple Brexit defeats in Parliament, investors will keep their gaze locked on another [..]

Technical Analysis – EURGBP climbs above 200-SMA; 100-SMA applies the brakes

Posted on September 3, 2019 at 9:51 am GMT

EURGBP declined over the last three weeks to levels just above the 0.9000 psychological number, forming a base for the lows. Bulls brought ammunition yesterday pushing above the 2018 high of 0.9098. Overcoming the 200-period simple moving average (SMA) and the 0.9127 level, which is the 23.6% Fibonacci retracement level of the up leg from 0.8490 to 0.9324, they then encountered the 100-period SMA wall slightly higher. Although the 100-period SMA is declining, the 28- and 50-period SMA, which have [..]

Daily Market Comment – Sterling crashes as UK’s Johnson tries to thwart bid to stop no-deal Brexit

Posted on September 3, 2019 at 8:16 am GMT

Pound dips below $1.20 as PM Johnson threatens to call an election if MPs try to block a no-deal Brexit Chinese yuan extends slide as US-China trade talks in doubt Aussie bounces back after RBA decision; GDP eyed next UK MPs fight to stop no-deal Brexit British lawmakers will today vote on whether to take control of the Parliamentary agenda in order to force a vote on Wednesday on extending the Brexit date beyond the October 31 deadline by three [..]

Daily Market Comment – Dollar & stocks climb on trade hopes; inflation data eyed

Posted on August 30, 2019 at 8:02 am GMT

Optimism engulfs markets after China calms trade nerves – can it last? ECB policymakers downplay QE prospects, but euro doesn’t ‘buy it’ Euro area & US inflation data in the spotlight today Dollar index near 2-year highs as trade optimism lingers Global equity markets were a sea of green on Thursday, with European and American stocks gaining more than 1% after China indicated it won’t retaliate immediately to the latest US tariffs and that the planned trade talks could still [..]

Daily Market Comment – Pound sinks as Boris plays ultimate game of chicken

Posted on August 29, 2019 at 8:29 am GMT

Pound drops after PM Johnson suspends Parliament Risk appetite improves as China hints September trade talks may go ahead German inflation data and US second GDP reading on the radar today Sterling dives as Boris sets course towards a no-deal Brexit In a dramatic turn of events, UK Prime Minister Johnson announced yesterday he will prorogue Parliament, meaning that British lawmakers will not be able to debate or vote on anything between September 12 – October 14. The move is [..]

Daily Market Comment – Wall Street retreats on recession fears; oil soars

Posted on August 28, 2019 at 8:25 am GMT

Yen and gold advance, stocks retreat as recession worries intensify Pound recovers as no-deal Brexit risk recedes, but outlook still negative Oil jumps after massive inventory drawdown – official EIA figures due today Wall Street retreats as recession fears deepen A mild risk-off tone swept through global markets on Tuesday, with American stocks closing modestly in the red and the defensive Japanese yen outperforming most of its major peers. Likewise, gold prices logged some gains, as the commodity currencies – [..]

Daily Market Comment – Risk sentiment fragile despite ‘calm’ trade rhetoric

Posted on August 27, 2019 at 8:04 am GMT

Markets recover as Trump strikes a conciliatory tone, but reality sinks in Further trade escalation seems imminent, so risk aversion may linger In the UK, opposition lawmakers will meet to avert a no-deal Brexit Risk sentiment in ‘no-man’s land’ as markets digest conflicting signals Global risk appetite recovered on Monday, following some encouraging signals on trade by the US President at the G7 summit. Trump said that Chinese officials had called the American negotiators in order to ‘get back to [..]

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