All Articles Tagged - EURGBP

Technical Analysis – EURGBP jumps considerably; bullish correction may be in progress

Posted on October 22, 2018 at 1:10 pm GMT

EURGBP has advanced considerably today and is set to complete the third consecutive green day, recording a new two-week high near the 0.8850 resistance level. Short-term momentum indicators are supporting this bullish mood. The RSI is already above its neutral 50 line and is pointing higher, detecting accelerating upside speed. Moreover, the MACD is within negative territory but advanced above the trigger line with strong momentum. If the price surpasses the 0.8850 resistance, it could find resistance near the 40-day simple moving [..]

European Open Preview – Euro bounces as Italian worries take a back seat; Brexit remains in focus

Posted on October 22, 2018 at 7:59 am GMT

Here are the latest developments in global markets: FOREX: The dollar was down by 0.17% against a basket of six major currencies on Monday, extending losses from Friday. Those losses came as the currency with the biggest weight by far in this index – the euro – rebounded, amid encouraging signals that the EU and Italy may manage to avert a full-fledged conflict over budget deficit rules. The British pound edged higher on hints the UK may be softening its [..]

European Open Preview – Italian worries haunt the euro; key Canadian data on the agenda

Posted on October 19, 2018 at 7:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is a touch higher on Friday (+0.08%), adding to the gains it recorded in the prior session and looking set to end the week meaningfully higher. The pound was the worst performer on Thursday amid a lack of progress on Brexit and downbeat UK data, while the euro also took a hit as Italian budget concerns came back to the forefront. The yen outperformed as risk aversion dominated, but [..]

European Open Preview – Fed minutes boost dollar; pound eyes UK retail sales

Posted on October 18, 2018 at 8:00 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is up by nearly 0.20% on Thursday, building on the strong gains it recorded yesterday, aided by a hawkish tone in the latest Fed minutes. Meanwhile, the worst performers on Wednesday were the euro and loonie, amid Italian budget concerns and a sharp drop in oil prices respectively. The pound traded choppy and lower overall, weighed on by soft UK inflation data and the absence of real progress [..]

US Open Preview – Pound faces headwinds as inflation disappoints; FOMC meeting minutes awaited

Posted on October 17, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Worse-than-expected CPI readings out of the UK drove sterling lower early in the European session after September’s data showed an annual inflation rate of 2.4%, below the consensus of 2.6% and under the previous mark of 2.7%. This is the lowest annual price growth in three months. Pound/dollar dropped by 0.61% to 1.3100, paring the gains it posted on Tuesday, while pound/yen declined by 0.55% and euro/pound edged higher by 0.21%. Rising concerns over the EU summit not providing [..]

European Open Preview – Yen pulls back as risk appetite rebounds; UK inflation and Fed minutes coming up

Posted on October 17, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.1% against a basket of six major currencies on Wednesday, after ending the previous session practically unchanged. The British pound regained some poise yesterday, aided by encouraging UK wage figures and reports suggesting the EU is open to extending Britain’s Brexit transition period by another year. Meanwhile, the Japanese yen was the worst performer, as global risk sentiment rebounded, triggering a rotation away from haven assets and [..]

US Open Preview – Pound gains on upbeat British wages before EU summit

Posted on October 16, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: Growth in British average earnings (excluding bonuses) in August came in stronger than expected at 3.1% y/y versus forecasts of 2.9%, helping pound/dollar to rally as high as 1.3227 early in the European session before slipping back to 1.3219 (+0.51%). Employment declined, though, by 5k missing forecasts of a 11k rise and the unemployment rate matched expectations, remaining unchanged at 4.0%. Optimistic comments by a German government official who said that a Brexit deal could be achieved by [..]

European Open Preview – Dollar consolidates losses; UK jobs data in focus

Posted on October 16, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was fractionally higher early on Tuesday (+0.06%), attempting to recover some of the losses it posted in the previous session. Meanwhile, the yen is losing ground across the board, as a rebound in risk appetite seems to be diverting funds out of the safe-haven currency. Elsewhere, the loonie advanced despite lower oil prices, after an upbeat survey by the BoC sealed the deal for a rate hike next week [..]

US Open Preview – Pound bounces up as geopolitics weigh on dollar; gold rallies to 3-month highs

Posted on October 15, 2018 at 12:06 pm GMT

Here are the latest developments in global markets: FOREX: After starting the day with a gap down at 1.3082, pound/dollar managed to turn positive during the early European session, rallying to 1.3170 (+0.12%) mainly due to a weaker dollar. Brexit uncertainties continued to linger in the background as the talks between Brexit negotiators failed to break the Irish deadlock on Sunday, though some officials showed optimism that a deal could be agreed in coming weeks. The yen attracted further demand in the [..]

European Open Preview – Sterling gaps down as Brexit talks are “paused”; US retail sales due

Posted on October 15, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is marginally higher on Monday against a basket of six major currencies (+0.07%), extending the gains it recorded in the previous session. The safe-haven Japanese yen is the best performer among the G10 currencies, as a diplomatic rift between the US and Saudi Arabia is seemingly keeping investors on the defensive. Elsewhere, the British pound opened with a gap to the downside, after the EU and UK were reported to [..]

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