All Articles Tagged - EURGBP

US Open Preview – Dollar’s rivals gain as US Congress split flags political noise; RBNZ rate decision awaited

Posted on November 7, 2018 at 12:47 pm GMT

Here are the latest developments in global markets: FOREX: As was widely anticipated, Democrats took control of the House and Republicans retained the majority in the Senate in the mid-term US elections. The dollar index opened with a gap down on Wednesday, slipping to a 2-month trough of 95.67 before inching up to 95.81 (-0.52%). Dollar/yen edged lower by 0.20% to 113.19 along with US Treasury yields after hitting a fresh 1-month high at 113.81 earlier in the day. The 10-year [..]

European Open Preview – Split Congress keeps dollar bulls sidelined; RBNZ decision looms

Posted on November 7, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar is lower by 0.28% against a basket of six major currencies on Wednesday, weighed down by the results of the US midterm elections, which produced a split Congress – dampening the prospect for any further tax cuts. Meanwhile, the pound continued its Brexit-induced march higher, while the kiwi dollar soared overnight, after a surprisingly strong employment report out of New Zealand. STOCKS: Wall Street closed in the green on Tuesday as [..]

European Open Preview – Dollar little changed ahead of US congressional elections

Posted on November 6, 2018 at 8:34 am GMT

Here are the latest developments in global markets: FOREX: The dollar was marginally higher versus a basket of currencies on Tuesday, after losing around 0.3% the previous day. Traders will be eyeing the US congressional elections as a potential driver for the world’s reserve currency during today’s trading. STOCKS: Wall Street finished the day mixed on Monday, with the Dow Jones (+0.76%) and the S&P 500 (+0.56%) advancing and the tech-heavy Nasdaq Composite (-0.38%) edging lower; Apple, Amazon, Google-parent Alphabet and Facebook were [..]

US Open Preview – Pound holds firm ahead of Barnier’s Brexit speech

Posted on November 5, 2018 at 12:59 pm GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of currencies reversed earlier losses to trade marginally higher on the day. The British pound continued to outperform on the back of rising hopes for a Brexit deal, though it reversed a considerable portion of earlier gains against both the dollar and the euro. Indicatively, GBPUSD traded below the 1.30 handle after previously hitting a two-week high of 1.3062. The UK came on the receiving end [..]

European Open Preview – Sterling outperforms on Brexit news; UK services PMI due

Posted on November 5, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar was down by 0.1% versus a basket of currencies on Monday after rising on Friday, when the US saw the release of a robust October jobs report. Sterling outperformed even though it gave up part of its earlier gains, being helped by positive Brexit news. STOCKS: Wall Street finished lower on Friday, with the Dow Jones (-0.43%), the S&P 500 (-0.63%) and the Nasdaq Composite (-1.04%) all unable to extend Thursday’s [..]

Technical Analysis – EURGBP opens with a gap down; approaches oversold area

Posted on November 5, 2018 at 8:02 am GMT

EURGBP opened with a gap down on Monday near one-month lows and is currently trying to restore its losses. Negative risks however remain in the background as the MACD increases momentum to the downside and below its red signal line. The RSI is also in bearish territory but is close to its 30 oversold threshold, hinting that an upside correction is possible. The latter is also supported by the Stochastics which are heading for a bullish cross below 20. Should the market stretch north, immediate resistance is expected [..]

European Open Preview – Pound bulls unleashed; US jobs data in the spotlight

Posted on November 2, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index dropped significantly on Thursday and is a little lower on Friday too (-0.15%). The world’s reserve currency likely suffered as investors locked in profits on their prior dollar-long bets, ahead of the all-important US employment data today. Meanwhile, the British pound skyrocketed, gaining around 2% against the dollar, amid growing optimism that a Brexit deal is inching closer. The antipodeans aussie and kiwi also soared, probably as some [..]

Technical Analysis – EURGBP momentum heads south; medium-term picture also looks bearish

Posted on November 1, 2018 at 1:53 pm GMT

EURGBP has moved considerably lower after touching a one-month high of 0.8939 on Tuesday. The pair is currently trading not far above a nine-day low of 0.8804 touched earlier on Thursday. The RSI turned lower over the past couple of days, entering bearish territory below 50; this is a sign of short-term momentum shifting to the downside. Also, the stochastics are projecting a bearish picture in the very short-term, as the %K line has moved below the slow %D one [..]

US Open Preview – Pound cheers on Brexit optimism and BoE rate guidance

Posted on November 1, 2018 at 12:34 pm GMT

Here are the latest developments in global markets: FOREX: Pound pairs were trading notably higher early in the European session, benefiting on reports the EU and the UK have reached a tentative agreement to allow British financial services companies to have a continued access to European markets after Brexit. It should be kept in mind though that the UK’s Brexit negotiator said that “nothing is agreed until everything is agreed”. On the monetary policy front, all nine BoE policymakers voted to keep rates steady at 0.75%, while slightly lowering growth projections [..]

European Open Preview – Sterling soars on news of Brexit services deal, ahead of BoE policy decision

Posted on November 1, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is down by a little more than 0.4% on Thursday, looking set to post its first daily decline in four sessions. The British pound, and to a lesser extent the euro, benefited from reports that UK financial services firms will continue to have access to EU markets after Brexit. Meanwhile, the antipodeans aussie and kiwi outperformed, likely lifted by the broader improvement in risk sentiment, as well as fresh [..]

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