All Articles Tagged - EURGBP

European Open Preview – Dollar retreats as rate-cut bets grow; yen soars

Posted on May 24, 2019 at 8:01 am GMT

Wall Street tumbles, yen soars on growth and trade concerns Dollar pulls back on mounting expectations for Fed easing Sterling catches its breath as May prepares to set departure date Risk sentiment takes a hit as soft PMIs revive growth worries Risk aversion dominated markets on Thursday, as alarming PMI data from major economies coupled with deepening US-China trade tensions amplified concerns around global growth. Preliminary Markit PMIs from both the US and Europe disappointed, highlighting that trade worries are [..]

Technical Analysis – EURGBP climbs, but more upside needed to affirm bullish outlook

Posted on May 23, 2019 at 2:11 pm GMT

EURGBP staged a mighty rally over the past weeks, crossing above its 50- and 200-day simple moving averages (SMAs) to touch the 0.8840 zone, before retreating somewhat. The near-term outlook seems to have turned positive, though a clear break above 0.8840 is needed to confirm that. Short-term momentum indicators, on the other hand, suggest a pullback may be looming. The RSI turned lower after entering its overbought zone, while the MACD seems to be topping above its trigger line. A [..]

European Open Preview – Sterling suffers as knives come out for Theresa May

Posted on May 23, 2019 at 8:11 am GMT

Sterling hammered on expectations PM May could resign soon German PMIs disappoint – euro may stay under pressure Risk aversion deepens as markets fear ‘new cold war’ Fed minutes reaffirm neutral stance, dollar advances No reprieve for sterling as May fights for political survival The British pound continues to be hammered by political uncertainty, with the leader of the House of Commons – Andrea Leadsom – resigning from the cabinet yesterday in protest to the government’s Brexit approach. The move [..]

European Open Preview – Pound unimpressed by Brexit plan; Fed minutes due

Posted on May 22, 2019 at 8:08 am GMT

Pound surrenders gains to trade lower after May unveils Brexit plan Fed minutes today may boost the dollar a little Stocks advance on Huawei relief, but risks still heightened Sterling not convinced by May’s ‘last Brexit push’ The British pound briefly spiked higher yesterday, before surrendering all its gains to trade even lower, after PM May laid out her modified Brexit deal. In an attempt to win over votes from opposition parties and pro-EU moderates, she proposed giving Parliament a [..]

European Open Preview – Dovish RBA sinks aussie; dollar shines

Posted on May 21, 2019 at 7:55 am GMT

Aussie gives up election gains as RBA rate cuts come in focus US calms nerves by temporarily easing sanctions on Huawei Dollar advances as other currencies lose shine Aussie reverses lower as RBA rate cut bets soar The election-related boost that the aussie received yesterday proved short-lived, with the currency giving back nearly all its gains early on Tuesday, following the release of minutes from the latest RBA meeting and some remarks by Governor Lowe. The minutes played up the [..]

European Open Preview – Pound recovers some losses; dollar reigns supreme

Posted on May 20, 2019 at 8:00 am GMT

Sterling crumbles as no-deal Brexit risk returns Aussie gets a lift from politics, but outlook still grim Dollar continues to reign supreme as other currencies lack appeal Pound dives as May’s grasp on power weakens Sterling took yet another hit on Friday, with Cable falling to its lowest level since January as the British political landscape darkened. Cross-party talks between Theresa May’s Conservatives and the opposition Labour party collapsed, dashing hopes for a bipartisan compromise to break the Brexit deadlock. [..]

Technical Analysis – EURGBP strongly bullish at 2-week highs

Posted on May 15, 2019 at 9:30 am GMT

EURGBP has been in the green so far this month, fully recovering the sell-off towards the 0.85 level emerged at the end of April. The short-term risk is still positive as long as the RSI and the MACD strengthen in bullish area, yet some caution is likely needed as the Stochastics seem to be reversing lower in overbought territory (above 80). Should the pair extend rally, immediate resistance is expected to appear within the 0.8700-0.8720 zone, where the upper Bollinger band is currently located. A steeper upside could also challenge [..]

European Open Preview – US raises tariffs, but traders still think it’s posturing

Posted on May 10, 2019 at 7:57 am GMT

Markets barely react after US raises tariffs, may be too complacent US inflation data coming up, may weigh on the dollar a little UK GDP and Canadian jobs figures also due Trump hikes tariffs, but complacent markets still see it as posturing As threatened, the US raised its tariffs on $200bn of Chinese goods to 25% overnight, from 10% previously. Beijing immediately responded it will be forced to retaliate, without providing any specifics. Yet, markets took the news in their [..]

European Open Preview – Nervous markets await tariff decision

Posted on May 9, 2019 at 7:53 am GMT

Markets remain in risk-off mode ahead of tariff decision tonight Risks seem tilted towards escalation, but it’s a close call Dollar eyes remarks by Fed Chair Powell and PPI data Yen extends gains as nervous markets await tariff decision Market sentiment remains fragile on Thursday as the prospect of further escalation in the US-China trade conflict continues to dampen the appeal of riskier assets, leading investors to seek shelter in safe havens. Indeed, the Japanese yen outperformed all its major [..]

European Open Preview – Risk aversion accelerates; RBNZ cuts

Posted on May 8, 2019 at 8:01 am GMT

Stocks plunge, haven assets shine as markets focus on trade risks RBNZ eases its policy, but kiwi bounces back Pound tumbles amid lack of progress in cross-party Brexit talks Risk aversion accelerates as trade worries prevail Trade concerns dominated price action on Tuesday, with global stock markets accelerating their losses while haven assets like the Japanese yen extended their gains, as traders continued to reduce their risk exposure ahead of crucial events later this week. Strikingly, there was no fresh [..]

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