All Articles Tagged - EURGBP

Daily Market Comment – Fed rate decision dominates a busy agenda

Posted on July 31, 2019 at 7:42 am GMT

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 GMT, which will be followed by a press conference from Chairman Powell. The central bank is virtually certain to slash rates, so the real question [..]

Daily Market Comment – Sterling pummeled by Brexit blues

Posted on July 30, 2019 at 7:50 am GMT

Sterling crumbles as no-deal rhetoric heats up – outlook still negative Bank of Japan takes no action, yen likes it German and US data due; trade talks resume Pound collapses as Boris plays ‘chicken’ with EU There’s no reprieve for the wounded British pound, which fell to a fresh 2½-year low against the dollar earlier today, following another round of worrisome Brexit rhetoric. Boris Johnson and his lieutenants reiterated that the Irish backstop is “dead”, with Foreign Secretary Raab saying [..]

Technical Analysis – EURGBP flies above Ichimoku cloud; RSI overbought

Posted on July 29, 2019 at 9:51 am GMT

An impressive rally followed the rebound on the 23.6% Fibonacci of the upleg from 0.8489 to 0.9050, with EURGBP spiking above its simple moving averages (SMA) and the Ichimoku cloud in the four-hour chart. In the meantime, the RSI seems to be slowing down in the overbought territory, flagging that the rally is exaggerated, and therefore downside corrections could soon take place. Nevertheless, as long as the MACD keeps gaining ground in the positive terittory and well above its red signal line, any [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:10 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 7:48 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

Technical Analysis – EURGBP to hold uptrend in near term; 20-SMA key support

Posted on July 23, 2019 at 7:45 am GMT

EURGBP has been in the green zone for the past twelve weeks, topping its rally at an almost six-month high of 0.9050 last week. The 20-day simple moving average (SMA) has played a key role in rejecting bearish corrections and therefore should be closely watched if negative momentum resumes. The fast Stochastics, however, are currently approaching the 20 oversold mark, while the RSI and the red Tenkan-sen are in consolidation, all flagging an overall neutral-to-positive bias for the short-term. Should the 20-day SMA assist the [..]

Daily Market Comment – Iran tensions rattle stocks, boost oil

Posted on July 22, 2019 at 7:47 am GMT

Stocks pull back, oil climbs as Iran escalates tensions with UK Dollar outperforms after Fed’s Bullard downplays prospect of ‘double’ cut Big week for euro, with a crucial ECB meeting on Thursday US equities retreat, oil rebounds after Iran seizes British ship Geopolitical headlines rattled markets late on Friday, with the benchmark S&P 500 (-0.62%) closing in the red after Iran seized a British oil tanker in the Strait of Hormuz, escalating hostilities with London to a new level. Oil [..]

What’s next for sterling as Britain flirts with a no-deal Brexit? – Special Report

Posted on July 19, 2019 at 1:22 pm GMT

The British pound remains in the eye of the storm, as markets are waking up to the risk that a no-deal Brexit in October may be incoming Prime Minister Johnson’s preferred route. The coming week will be decisive, as the Cabinet ministers Johnson picks could reveal much about his strategy. As for sterling, the picture remains grim and a revisit of the $1.20 zone – or beyond – shouldn’t be ruled out, with signals for a General Election or a [..]

Daily Market Comment – Cautious Fed remarks take the wheels off dollar

Posted on July 19, 2019 at 7:40 am GMT

Dovish remarks by key Fed officials push greenback lower WTI crude oil at four-week low amid mixed signals in US-Iran conflict Canadian retail sales and more Fed-speak dominate the agenda today Fed’s Williams argues for preventive easing, sends dollar reeling The greenback continues to attract all the attention, after two influential Fed officials fueled market expectations for an aggressive 50 basis points (bp) rate cut at the upcoming policy meeting. The move started after New York Fed President Williams [..]

Daily Market Comment – Sterling stumbles as no-deal Brexit fears strike back

Posted on July 17, 2019 at 7:48 am GMT

Pound touches 27-month lows as no-deal Brexit concerns resurface Dollar capitalizes, and may have more room to recover for now Oil sinks as Washington hints at “progress” with Iran Canadian inflation data coming up Sterling stumbles as no-deal worries wreak havoc The pound came under fire on Tuesday, falling by more than one big figure against the dollar to touch lows last seen in April 2017, as the risk of a no-deal Brexit popped back on the market’s radar. The [..]

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