All Articles Tagged - EURGBP

European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:50 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]

European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:48 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]

European Open Preview – US inflation data in the spotlight

Posted on January 11, 2019 at 8:52 am GMT

Dollar briefly inches up after Powell; US CPI data today will be crucial Swiss franc drops, with SNB likely behind the move US-China trade optimism boosts aussie and kiwi Brexit uncertainty lingers ahead of next week’s Parliamentary vote Powell helps dollar to rebound briefly, but mind the upcoming inflation data Fed Chair Powell mostly “stuck to the script” yesterday, reiterating the recent shift in the Fed’s reaction function. He said his central bank can afford to be patient with further [..]

European Open Preview – Dollar capitulates as Fed signals “patient” approach

Posted on January 10, 2019 at 8:50 am GMT

Dollar falls sharply after Fed signals it will be “patient”; a slew of key speakers will be in focus today Euro advances, and attention now turns to the ECB minutes at 1230 GMT BoC stands pat, keeping further gradual hikes on the table China stokes trade optimism, but US stock futures flashing red Dollar capitulates on Fed speak, extends losses after FOMC minutes The main mover in FX markets yesterday was the US dollar, which fell significantly and across the [..]

Technical Analysis – EURGBP remains neutral in short and long terms

Posted on January 9, 2019 at 2:05 pm GMT

EURGBP has been lacking direction over the last month as it hovers within a narrow range with upper boundary the 0.9085 resistance and lower boundary the 0.8930 support. It is noteworthy that the price created a strong spike to the upside during the previous week, recording a fresh 16-month high of 0.9110. Technically, the %K line of the stochastic oscillator is ready to turn to the upside creating a bullish cross with the %D line. An upside run in the price and [..]

European Open Preview – FOMC minutes and BoC rate decision in the spotlight

Posted on January 9, 2019 at 8:42 am GMT

In the US, minutes from the latest FOMC meeting will be scrutinized for clues on whether a pause in rate hikes is indeed in order In Canada, the BoC will meet and attention may fall on whether policymakers are growing more cautious Overnight, China releases its updated inflation data FOMC minutes eyed for rate guidance amid recession fears The dollar advanced nearly across the board on Tuesday without any major US-specific catalyst, instead capitalizing on weakness in the euro, which [..]

European Open Preview – Dollar sags but equities stage comeback

Posted on December 28, 2018 at 8:53 am GMT

US equities stage a major comeback late in the session, close higher Dollar edges lower as Fed rate-hike expectations are almost fully priced out Yen shines, loonie and aussie flirt with lows amid broader risk-off mood US stocks stage an impressive late comeback, but skepticism lingers It was another session characterized by sharp moves in both the currency and equity markets on Thursday amid thinner-than-usual liquidity, and with little in the way of fresh news to drive the price action. [..]

European Open Preview – Equities roar back: fresh rally, or dead-cat bounce?

Posted on December 27, 2018 at 9:01 am GMT

US stock markets rebound by 5% as mood turns risk-on, and amid thin liquidity Dollar climbs while the defensive yen crumbles, but sentiment reversing again today US stock indices surge by 5%, but is the broader sell-off over? The latest bout of stock market volatility remained in full force on Wednesday. The major US indices posted outsized gains, with the likes of the S&P 500 and the Dow Jones both jumping by almost 5.0% to recover some of their latest [..]

European Open Preview – Stock carnage deepens; yen extends gains

Posted on December 24, 2018 at 8:52 am GMT

US stock indices extend losses, Nasdaq enters bear market as concerns around future growth feed risk aversion Dollar and yen outperform on safe-haven demand, but are giving back some gains on Monday amid encouraging trade headlines Equities drop to fresh lows as uncertainty reigns US stock indices closed with sharp losses once again on Friday, in an environment characterized by thin liquidity, as investors attempted to protect their profitability heading into the New Year via liquidating more of their prior [..]

European Open Preview – Stocks sink alongside dollar as market havoc continues

Posted on December 21, 2018 at 8:57 am GMT

US stocks extend plunge as investors remain jittery of a Fed policy error, US government shutdown, and US-China tensions Yen outperforms as uncertainty deepens, while dollar continues to bleed BoE remains on hold, points to intensifying Brexit uncertainties S&P 500 closes at September 2017 lows There was no reprieve for US stock markets, which extended their losses as the dust following the latest Fed meeting settled. The benchmark S&P 500 (-1.58%) closed at its lowest level since September 2017, with [..]

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