All Articles Tagged - EURGBP

US Open Preview– Sterling shines above $1.41; New Zealand reports on inflation

Posted on January 24, 2018 at 12:37 pm GMT

Here are the latest developments in global markets: FOREX: Better than expected employment readings and growing hopes of a softer Brexit pushed pound/dollar to 1.4151 (+1.04%) during early European trading hours and led euro/pound down to a 5-week low of 0.8746 (-0.75%). Euro/dollar edged up to fresh 3-year highs at 1.2355 (+0.28%) after Eurozone’s Markit composite PMI surprisingly hit a new all-time high. On the other hand, dollar/yen extended losses towards a 4 ½-month low of 109.36 and the dollar index [..]

European Open Preview – Dollar losing streak continues; UK employment and wage growth data due

Posted on January 24, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded nearly 0.2% lower on Wednesday, extending the losses it posted yesterday amid concerns of a potential escalation in trade tensions with China. STOCKS: Japanese equities corrected lower, with the Nikkei 225 and the Topix indices closing down by 0.8% and 0.5% respectively, as the latest surge in the yen took its toll on the nation’s markets. That said, both indices still stand near their corresponding 27-year highs. In [..]

US Open Preview – Dollar index holds losses on funding bill uncertainty; European stocks hit fresh highs

Posted on January 19, 2018 at 12:42 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index remained pressured near three-year lows, at 90.34 (-0.16%), as investors were waiting for US Senators to prevent a potential government shutdown today. Traders were also pricing that the dollar might lose steam versus its peers if other central banks follow the Fed by tightening monetary policy. Dollar/yen lost 0.38%, retreating to an intra-day low of 110.48. Pound/dollar reversed today’s gains, edging down to 1.3873 after monthly retail sales in the UK [..]

Technical Analysis – EURGBP approaches 38.2% Fibonacci mark; bullish move is expected in short-term

Posted on January 19, 2018 at 10:01 am GMT

EURGBP appears poised for further losses and slipped beneath the 0.8850 barrier in the prior couple of days. Currently, in the short-term timeframe, the pair is developing between the 38.2% and the 50.0% Fibonacci retracement levels of the last significant upward movement with the low at 0.8690 and the high at 0.8923. The aforementioned levels are holding near the 0.8833 resistance level and the 0.8805 support level respectively. In addition, the pair posted two positive days in a row following [..]

US Open Preview – Dollar posts gains though still trades near lows; kiwi traders eye dairy auction

Posted on January 16, 2018 at 12:41 pm GMT

Here are the latest developments in global markets: FOREX: After considerable declines in the days that preceded, the dollar is in the green relative to other major currencies during today’s trading, though it managed to recover only a relatively small portion of earlier losses. The dollar index was 0.3% up at 90.73. On Monday it touched 90.46, its lowest since early 2015. The British currency experienced some losses following the release of UK inflation data. STOCKS: European bourses were broadly [..]

European Open Preview – Dollar in recovery mode; UK inflation in the spotlight

Posted on January 16, 2018 at 8:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar managed to recover a part of the previous days’ losses against a basket of currencies that saw it eventually fall to a three-year low during Monday’s trading. STOCKS: The Japanese Nikkei 225 and Topix indices added 1.0% and 0.55% to close at their highest since 1991. Hong Kong’s Hang Seng was up by 1.3%, trading at decade-high levels. Euro Stoxx 50 futures were flat at 0731 GMT, with Dow, [..]

US Open Preview– Euro thrives on political relief; US CPI & retail sales awaited

Posted on January 12, 2018 at 12:42 pm GMT

Here are the latest developments in global markets: FOREX: Hopes that the ECB will step back from its monetary stimulus and bets that Germany will form a grand coalition government soon added further gains to the euro during early European trading hours. Merkel’s Conservatives and their former coalition partners Social Democrats agreed today on a blueprint to formally start coalition negotiations. Euro/dollar rallied to a three-year high of 1.2136 (+0.76%), euro/yen surged to 134.78 (+0.64%) and euro/pound remained flat at 0.8891. The dollar index [..]

Technical Analysis – EURGBP steadies after two strong sell-off days but remains bearish

Posted on January 9, 2018 at 11:07 am GMT

EURGBP appears poised for further losses and slipped beneath the 0.8850 barrier, while euro was the worst performing major currency during yesterday’s trading session. The single currency had been under pressure versus sterling during the US trading session on Tuesday and ended the day near its low. The price recorded the second straight bearish day and plummeted almost 1% following the bounce off the 0.8923 resistance level. Currently, in the short-term timeframe, the pair is developing between the 38.2% and the 50.0% Fibonacci retracement levels of the last significant [..]

Week Ahead – US inflation & retail sales and Chinese trade numbers among next week’s highlights

Posted on January 5, 2018 at 1:56 pm GMT

The coming week will feature numerous important releases that definitely have the potential to lead to notable movements in forex markets, though it will lack a release of the magnitude of the US nonfarm payrolls report that hit markets during this past week. Among the highlights in the coming days will be Chinese trade data, eurozone unemployment figures, UK manufacturing output and US inflation and retail sales. Quiet week in Australia with building approvals and retail sales gathering attention The [..]

Technical Analysis – Outlook 2018: EURGBP still stands in positive territory near the weekly ascending trend line

Posted on January 4, 2018 at 2:38 pm GMT

EURGBP is clearly biased to the upside in the very long-term timeframe, following the rebound on 0.6930 support level, and having a look in the near-term the price added more than 1% to its performance in the previous two months. As you can see on the chart, the pair found a strong support obstacle at the 23.6% Fibonacci retracement level with the low at 0.6930 and the high at 0.9310 which is almost an eight-year high. So, on a monthly [..]

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