All Articles Tagged - EURGBP

Forex Market Review (European Session) – Pound rises on GDP, hike speculation; loonie declines on BoC inflation expectations

Posted on October 25, 2017 at 3:07 pm GMT

The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and retreating versus the euro, yen and of course sterling. At 1542 GMT, the dollar index, which gauges the greenback against the currencies of six major [..]

Stock Market News (European Open) – FTSE declines on rising sterling; Coca-Cola and Boeing to release results before US open

Posted on October 25, 2017 at 9:56 am GMT

Asian markets projected a mixed picture today with movements from major benchmarks being fairly limited. The Japanese Nikkei 225 and Topix indices finished the day lower by 0.45% and 0.3%, ending a 16- and 12-day streak of positive closes respectively (the longest on record for the Nikkei) that brought them to multi-year highs. Hong Kong’s Hang Seng gained 0.5% and the Shanghai Composite rose by 0.3%. Australia’s S&P/ASX 200 Index added 0.1%. In Europe, the pan-European Stoxx 600 was down [..]

Forex Market Review (European Session) – Dollar strengthens on tax reform hopes while sterling and kiwi face pressure

Posted on October 24, 2017 at 2:32 pm GMT

The US dollar did well versus a number of currencies on Tuesday as it gained significantly versus the pound, the kiwi and the aussie. The euro closely mirrored the dollar’s gains as traders are waiting for the outcome of the ECB meeting on Thursday before moving the world’s most traded foreign exchange pair: euro/dollar. The dollar was helped by optimism that tax reform in the United States was a feasible goal in the near-term for President Trump and Congress. An [..]

Technical Analysis – EURGBP remains bearish as recent bounce runs out of steam

Posted on October 17, 2017 at 11:06 am GMT

EURGBP has reversed back down again after finding resistance at the four-week high of 0.9032 achieved last week. This top is just above the 50% retracement of the downleg from August’s 8-year high of 0.9306 to September’s 3-month low of 0.8745. Momentum indicators are pointing to a neutral to negative bias in the short term with the RSI just below 50 and the stochastic oscillator deep in bearish territory. However, the stochastics have reached oversold area and the %K line [..]

Stock Market News (European Open) – Miners dominate Stoxx 600 outperformers; Japanese equities renew highs

Posted on October 16, 2017 at 9:41 am GMT

Equities in Asia were rising for the most part. In Japan, the Nikkei added 0.5% and the nation’s broader equity gauge, the Topix, gained 0.6%, both renewing the multi-year high closes set during the previous week; the Nikkei and Topix finished today’s trading at their highest since 1996 and 2007 respectively. Hong Kong’s Hang Seng advanced by 0.8% with the Shanghai Composite losing 0.35%. Australia’s S&P/ASX 200 and South Korea’s Kospi rose by 0.6% and 0.3% respectively. The governor of [..]

Week Ahead – UK inflation, Japanese trade data among week’s important releases; Party Congress eyed in China

Posted on October 13, 2017 at 3:09 pm GMT

Next week’s economic releases, which includes UK inflation figures, can determine the future path of monetary policy for major economies, while political events, such China’s five-yearly Communist Party Congress commencing on Wednesday, perhaps have the capacity to steer developments for the years to come. Chinese Party Congress, Japanese trade data and elections further ahead and Australian employment to be closely watched Data on producer as well as on consumer prices for the month of September will be released out of [..]

Stock Market News (European Open) – FTSE suffers on sterling rebound; Japanese benchmarks at multi-year highs

Posted on October 13, 2017 at 9:50 am GMT

In Asia, the Nikkei 225 added 1.0% to close this week’s trading at its highest since 1996 with the Topix, Japan’s broader equity gauge, gaining 0.5% to finish the week at its highest since 2007. Hong Kong’s Hang Seng rose by 0.1% and the Shanghai Composite advanced by 0.2%. Australia’s S&P/ASX 200 added 0.3% and the South Korean Kospi retreated by 0.05%. Today there were reports of a small magnitude earthquake near the area where North Korea conducted nuclear tests in the past, raising concerns for [..]

Forex Market Review (European Session) – Pound drifts lower after Barnier says Brexit talks are in “deadlock”; dollar recovers

Posted on October 12, 2017 at 3:13 pm GMT

The pound could not sustain its rally started during the Asian session on Thursday after discouraging comments on Brexit’s progress by the EU chief negotiator pushed the currency down, making it the worst performer among its major peers. The pound’s weakness, as well as US data on PPI and initial jobless claims, gave a lift to the dollar. The fifth round of Brexit talks, which are to be temporarily suspended when the two-day EU summit starts on October 19, was not constructive enough for the negotiations to move to [..]

Stock Market News (US Open) – FTSE benefits on falling sterling; major Wall Street indices open slightly lower

Posted on October 12, 2017 at 1:50 pm GMT

With the open of US markets, the pan-European Stoxx 600 and the blue-chip Euro Stoxx 50 were both trading lower by 0.1% and 0.2% on the day with major blue-chip benchmarks in Europe giving a mixed picture. The FTSE 100 was the brightest spot in terms of performance among main European blue-chip indices. The closely-watched benchmark was up by 0.3%, reaching its highest since early June at one point during today’s trading. FTSE constituents’ revenues are to a significant extent [..]

Forex Market Review (European session) – Dollar dives ahead of Fed meeting minutes; euro rallies as Catalonia-related risk eases

Posted on October 11, 2017 at 3:30 pm GMT

The dollar was the worst performer during the European session on Wednesday as both geopolitical risks and uncertainty over Trump’s fiscal policy dragged the currency lower against other major currencies. Comments by the Chicago Fed President, Charles Evans, and disappointing readings on JOLTS job openings added further losses to the greenback. On the other hand, the euro was performing the best as the absence of a formal Catalan independence declaration relieved markets which feared possible negative political implications. The Spanish government, though, accused the Catalan leader of causing confusion with his actions. With the North Korean story [..]

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