All Articles Tagged - EURGBP

Technical Analysis – EURGBP moves slightly higher, remaining above SMAs

Posted on December 20, 2018 at 12:39 pm GMT

EURGBP has been edging higher since Wednesday’s session, remaining above the strong support level of 0.8940. The technical structure endorses the short-term bullish sentiment as the RSI is heading towards the overbought level and the MACD oscillator created a positive crossover with the trigger line above the zero line. Also, the moving averages are pointing upwards in the daily timeframe. A further upside run in the price may retest the previous peak of the three-month high of 0.9085 before targeting the one-year high of [..]

European Open Preview – Fed unlikely to be as dovish as market pricing implies

Posted on December 19, 2018 at 8:42 am GMT

The spotlight today is on the Fed’s decision; markets seem positioned for an extremely “dovish hike”, which poses an upside risk for the dollar The BoJ will also meet, though that gathering may be less exciting Meanwhile, oil prices resumed their broader collapse Fed may strike a less dovish tone than investors anticipate The main event today will be the Fed’s policy decision at 1900 GMT, which will be followed by a press conference from Chair Powell. A quarter-point rate increase [..]

European Open Preview – Dollar softer on bets volatility will stay Fed’s hand

Posted on December 18, 2018 at 8:45 am GMT

Risk sentiment in dire straits; US stocks close at fresh lows, yen shines Dollar drops as Fed rate-hike expectations fade even further Kiwi buoyant after New Zealand’s business sentiment recovers S&P 500 closes at 14-month low as fear dominates greed Risk sentiment remained sour to start the week, in the absence of any clear catalyst, other than a flurry of headlines suggesting a US government shutdown may be on the cards this holiday season. The benchmark S&P 500 index fell [..]

European Open Preview – Euro softens as ECB ends QE, but turns cautious

Posted on December 14, 2018 at 8:38 am GMT

Euro ticks down as ECB ends QE, but downgrades balance of risks Aussie and kiwi fall sharply after key Chinese data disappoint EU refuses to renegotiate Brexit deal; sterling rallies may remain short-lived US retail sales data due out today Euro inches lower despite Draghi trying his best not to seem dovish The European Central Bank (ECB) officially announced the end of its crisis-era QE program yesterday, as expected. The Bank revised down its growth and inflation forecasts, though that [..]

European Open Preview – Pound advances as May survives; ECB meeting eyed

Posted on December 13, 2018 at 8:27 am GMT

Sterling advances as PM May survives leadership contest, but sustained rally unlikely ECB meets today; Draghi’s tone will be crucial for the euro SNB meets as well, likely to maintain a dovish stance Meanwhile, reports China may open its economy boost risk sentiment Pound soars as May survives, but odds of a sustained rally slim Sterling surged on Wednesday, as it became increasingly clear throughout the session that PM May would survive the no-confidence motion, amid a plethora of Tory [..]

May to fight a leadership challenge ahead of EU summit – Forex News Preview

Posted on December 12, 2018 at 5:01 pm GMT

The EU28 leaders will gather in Brussels on Thursday, in the context of the two-day summit, to discuss Brexit after the UK Prime Minister, Theresa May, decided in the last minute to postpone a parliamentary vote on the withdrawal agreement to avoid a dramatic defeat. But as May tours European capitals in a bid to persuade her European counterparts to improve her much-hated Brexit deal, she received an unexpected call to return home and face a no-confidence vote from her own Conservative party. If she wins the vote, her [..]

European Open Preview – Pound under pressure as Tories trigger leadership contest

Posted on December 12, 2018 at 8:52 am GMT

Sterling near 20-month lows as Conservative lawmakers trigger no-confidence vote in Theresa May; ballot to be held today Risk appetite recovers as Trump and China stoke hopes for a deal Euro remains on the back foot ahead of tomorrow’s ECB meeting US inflation data on tap Sterling crumbles as Tories trigger leadership challenge The British pound sank to a fresh 20-month low versus the dollar on Tuesday, following reports that “rebels” within Theresa May’s Conservative party nearly have the numbers [..]

Technical Analysis – EURGBP declines below 3-month high; lacks direction in long term

Posted on December 11, 2018 at 12:59 pm GMT

EURGBP has advanced considerably over the preceding two days, hitting a new more-than three-month high of 0.9086. Today’s pullback shifted the technical indicators from upside direction to sideways movement. The RSI indicator is sloping down after reaching overbought zone, while the ROC oscillator is flattening in the positive area. An upside run in the price may retest the previous peak of the one-year high of 0.9100. Above that, investors would be interested to see whether bullish dynamics can overcome the previous peak and meet the 0.9300 psychological hurdle. Alternatively, [..]

European Open Preview – Risk sentiment sours; OPEC summit front and center

Posted on December 6, 2018 at 8:30 am GMT

Risk appetite crumbles as US arrests Huawei CFO, generating worries of re-escalation in the trade conflict Today, all eyes are on OPEC’s meeting (1200 GMT); expectations for a production cut are elevated Loonie nosedives to a 1½-year low as BoC shifts to a more cautious stance Risk appetite falters on fears of “trade war” re-escalation After a relatively calm Wednesday, risk appetite deteriorated once more during the Asian session on Thursday, following news that the CFO of the Chinese tech [..]

European Open Preview – Stocks sink amid trade woes; BoC decision eyed

Posted on December 5, 2018 at 8:46 am GMT

Trump’s trade posturing sinks stock markets Bank of Canada to stand pat (1500 GMT), but may appear a touch more cautious Dollar rebounds after Fed’s Williams reiterates “gradual hikes” Sterling remains turbulent as Parliamentary debate kicks off Equities sink on Trump’s trade posturing Wall Street plunged, with the S&P 500 falling by a whopping 3.24% and the tech-heavy Nasdaq Composite nosediving by 3.80%. Meanwhile, defensive assets like the Japanese yen outperformed. The mood was already sour before the US markets [..]

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