All Articles Tagged - EURGBP

Market Comment – Dollar trades sideways ahead of NFP

Posted on June 7, 2024 at 7:47 am GMT

ECB cuts rates but outlook remains unclear Market is focusing on the US labour market data Weaker prints could open the door to a dovish Fed meeting Stock markets could suffer if there is an upside surprise today ECB cuts rates but the outlook remains unclear The ECB confirmed the overwhelming expectations and announced a 25bps rate cut on Thursday. President Lagarde tried to explain the reasoning behind the nearly unanimous decision, but her justification was somewhat questionable considering the [..]

Midweek Technical Look – EURGBP, US 500, WTI

Posted on June 6, 2024 at 10:24 am GMT

EURGBP near 2-year lows; still in trading range US 500 records another all-time high WTI crude oil rebounds off 4-month in bearish market [..]

Technical Analysis – EURGBP tests a key support area

Posted on June 6, 2024 at 8:22 am GMT

EURGBP edges higher today ahead of crucial ECB meeting Strong downside pressure in place despite UK elections being in the spotlight Momentum indicators are mostly mixed at this juncture EURGBP is trading higher today, a tad above its lowest level since August 2022, and in an extremely important support area that has repeatedly acted as a floor and put a stop in the bears’ momentum. The market is preparing for the much-awaited ECB meeting that could deliver the first rate from [..]

Technical Analysis – EURGBP stuck around the crucial 0.8500 floor

Posted on May 31, 2024 at 7:36 am GMT

EURGBP remains directionless near the long-term 0.8500 reflection point Technical signals flag oversold conditions, but a bullish outlook could come above 0.8600 Despite hitting a 20-month low of 0.8482, EURGBP has remained flat and unable to establish a clear direction around the significant level of 0.8500 over the past week. Eurozone’s preliminary CPI inflation data will be out today at 09:00 GMT. From a technical perspective, the bulls might be around the corner given the positive reversal in the stochastic oscillator. [..]

Euro suffers when ECB announces the first rate cut of the cycle – Special Report

Posted on May 30, 2024 at 2:50 pm GMT

ECB prepares to cut rates for the first time ahead of the Fed History points to strong possibility of back-to-back rate cuts Both the euro and German DAX tend to underperform on meeting day The ECB is on the brink of announcing its first rate cut since March 2016 as the overall rhetoric from ECB officials leaves little doubt about next week’s rate decision, with even the most hawkish members of the Governing council acknowledging the need for rate cuts. [..]

Market Comment – Dollar rallies as market angst spreads

Posted on May 30, 2024 at 8:01 am GMT

Higher Treasury yields contribute to stock indices’ retreat Euro under pressure as the pound benefits from the election Gold fails to benefit from risk-off; oil drops ahead of OPEC meeting Dollar is on the front foot The US dollar is gaining against its main counterparts with the euro/dollar pair dropping to a 2-week low. The catalyst for this move appears to be the bond market as the 10-year US Treasury yield is hovering above 4.6% for the first time since [..]

Low volatility across the board besides Bitcoin – Volatility Watch

Posted on May 28, 2024 at 9:34 am GMT

Forex pairs in a relatively quiet mood Volatility in Bitcoin and silver skyrockets US equities enjoy low volatility despite rally to record highs Euro/dollar volatility has dropped aggressively over the past week as markets are bracing for inflation data both from the US and Eurozone this week. Similarly, volatility in yen crosses remains muted even though the Japanese currency is trading near historical lows against its major peers, while the latest downbeat inflation data out of Japan could ignite some volatility moving forward. In [..]

Technical Analysis – EURGBP tests critical pivot area after slump

Posted on May 23, 2024 at 11:10 am GMT

EURGBP at a make-or-break point near 0.8500 after plunge Oversold conditions detected, but the bears not ready to give up the battle EURGBP was knocked down near the 200-day simple moving average (SMA) at the start of the month, subsequently losing around 1.0% to reach the critical pivot zone of 0.8490-0.8500 which rescued the pair fourth times since July 2023. Better-than-expected eurozone PMI figures generated fresh positive momentum today after a decline to 0.8498. With the price having stretched below the [..]

Midweek Technical Look – EURGBP, USDCHF, US 500

Posted on May 23, 2024 at 10:37 am GMT

EURGBP plunges near 0.8500 level; remains within trading range USDCHF still shows some upside recovery US 500 records another all-time high at 5,344 [..]

Market Comment – Dollar under pressure as Fed speakers multiply

Posted on May 22, 2024 at 8:18 am GMT

FOMC minutes in the spotlight today Mixed UK CPI probably keeps the door closed to a June move RBNZ surprises with its hawkishness; kiwi benefits Nvidia reports after the US market close Dollar remains on the back foot The quieter data calendar has turned the market’s attention to the plethora of Fed speakers eager to express their opinions ahead of the next blackout period. Analyzing almost 35 public appearances by Fed speakers since May 1 reveals an overwhelming support for [..]

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