All Articles Tagged - EURGBP

US Open Preview – Sterling bounces in quiet markets; trade updates awaited

Posted on August 29, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was up by 0.14% on Wednesday, drawing support from a robust reading on US consumer confidence yesterday, and looking set to snap a three-day losing streak. Against the euro, the dollar gained 0.21%, while it was practically flat against the Japanese yen. Meanwhile, the British pound was in recovery-mode, with investors seemingly brushing aside reports suggesting UK Brexit Secretary Raab is frustrated that EU chief negotiator Barnier is [..]

European Open Preview – Loonie advances amid trade optimism; updated GDP estimates due out of the US

Posted on August 29, 2018 at 7:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.10% against a basket of six major currencies on Wednesday. Even though the currency was on the back foot for most of the trading session on Tuesday, it managed to recover nearly all of its losses following the release of upbeat US consumer confidence data. Elsewhere, the loonie continued to advance amid optimism that a resolution to the NAFTA renegotiations may be inching closer. STOCKS: Wall Street closed higher yet [..]

US Open Preview – Dollar inches lower; all eyes on US-Canada talks

Posted on August 28, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded 0.16% lower against a basket of six major currencies on Tuesday, erasing the modest gains it posted earlier in the session and looking set to post the third day of declines in a row. The world’s reserve currency has been under pressure lately as trade tensions appear to have eased somewhat and investors unwound some of their safe-haven bets, with some less-than-hawkish remarks from Fed chief Powell also [..]

European Open Preview – US-Mexico trade deal fuels risk appetite; dollar extends retreat

Posted on August 28, 2018 at 7:40 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was up on Tuesday, albeit by less than 0.1%, attempting to recover some of the losses it recorded yesterday as investors scaled back safe-haven bets on the currency, following headlines of a US-Mexico trade agreement. The euro capitalized on the dollar’s softness, advancing across the board on Monday, and reaching a fresh one-year high against the battered British pound. Meanwhile, the loonie climbed somewhat on the optimistic NAFTA headlines, touching a [..]

European Open Preview – Dollar slips on Powell; NAFTA agreement coming up?

Posted on August 27, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Monday (+0.06%), recovering some of the notable losses it posted on Friday following some relatively cautious remarks from Fed Chairman Powell that left the bulls disappointed. The euro capitalized on the dollar’s weakness and recovered across the board, while conversely, the yen retreated – weighed on by the boost in risk appetite that Powell fueled. Meanwhile, the British pound remained on the back foot, amid no signs of [..]

Technical Analysis – EURGBP eyes 10-month high; positive momentum may be easing

Posted on August 24, 2018 at 9:41 am GMT

EURGBP is rising for the third straight day and is currently trading close to the 10-month high of 0.9029 recorded earlier in the month. Supporting the view for a bullish bias are the positively aligned Tenkan- and Kijun-sen lines. The easing Kijun-sen, though, may be hinting that upside momentum is weakening. The RSI, which continues to rise in bullish territory, also acts as a testament to the positive bias. Notice, though, that the indicator is not far below the 70 overbought [..]

European Open Preview – Dollar posts modest losses ahead of Powell speech; possibility of no-deal Brexit hurts pound

Posted on August 24, 2018 at 7:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar was 0.2% down against six major currencies on Friday. Fed chief Powell’s speech at the Jackson Hole summit later today may act as the short-term driver determining positioning on the greenback. STOCKS: The Dow Jones, S&P 500 and Nasdaq Composite finished Thursday’s trading in the red, specifically losing 0.3%, 0.2% and 0.1% respectively. Trade angst could had contributed to the fall, though it could also be argued that there was no [..]

European Open Preview – Dollar consolidates losses; US-China trade talks and Fed minutes awaited

Posted on August 22, 2018 at 7:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar was little changed versus a basket of currencies on Wednesday, consolidating the considerable losses from previous days and especially after President Trump’s comments on Monday; he criticized rate normalization efforts by the Fed. Updates on the US-China trade relationship and Fed minutes from the central bank’s latest meeting may determine positioning during today’s trading. STOCKS: The Dow Jones, S&P 500 and the Nasdaq Composite finished Tuesday’s trading higher by 0.2%, 0.2% [..]

US Open Preview – Dollar index under pressure after Trump’s Fed criticism

Posted on August 21, 2018 at 11:29 am GMT

Here are the latest developments in global markets: FOREX: The dollar index continued to trade lower early in the European session, weighed by comments made by the US President late on Tuesday who said that he is “not thrilled” about the central bank’s decision to raise interest rates this year as his administration is making efforts to reduce trade deficit and higher interest rates combined with a stronger dollar would limit export growth. He also accused China and the Eurozone of manipulating their currencies; the response from the [..]

Technical analysis – EURGBP pulls back from 10-month high, positive trend still in force

Posted on August 17, 2018 at 12:42 pm GMT

EURGBP retreated in recent days, after meeting resistance near the 10-month high of 0.9030 recorded on August 9. Despite the pullback, the price structure on the daily chart remains higher peaks and higher troughs above the uptrend line drawn from the lows of June 15, as well as above the pair’s 100- and 200-day moving averages. These suggest that the broader bullish trend is still in force. Looking at short-term momentum oscillators, they are also in support of a broadly [..]

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