All Articles Tagged - EURGBP

Forex Market Review (European Session) – Pound jumps after BoE signals rate hike; dollar also up on strong US inflation

Posted on September 14, 2017 at 1:27 pm GMT

Central bank meetings dominated today’s European session, while US CPI was the main data in focus. The pound soared to a fresh one-year high against the dollar after the Bank of England signalled rates could go up within months. The US dollar also shined as the greenback was lifted by stronger-than-expected inflation data. In contrast, the Swiss franc ended up as one of the worst performers after the Swiss National Bank slightly altered its view on the Swissie’s value. The [..]

Technical Analysis – EURGBP turns bearish in short term; bullish outlook weakens

Posted on September 14, 2017 at 11:02 am GMT

EURGBP has stabilized around 0.90 following a two-week sell-off that saw the pair declining by more than 3% over the period. The downside momentum gained strength after prices breached the bottom of the upward trending linear regression channel. The short-term bias remains bearish with the RSI still in negative territory, although there are signs that the current downtrend has bottomed out. The RSI appears to have halted its decline and the stochastics are in oversold territory, suggesting an upside reversal [..]

Investment Theme – Investors remain negative on sterling despite hitting 1-year high against the dollar

Posted on September 13, 2017 at 2:56 pm GMT

Expectations that the Bank of England will take a more hawkish stance at its policy meeting this week have lifted sterling from two-month lows ploughed at the end of August, offsetting concerns about a slowing economy and a lack of progress in the Brexit negotiations. Stronger-than-expected inflation data on Tuesday fuelled those expectations as UK consumer prices rose by an annual rate of 2.9% in August, just shy of the BoE’s upper limit of 3%, at which point the Governor [..]

Forex Market Review (European Session) – Pound soars to 1-year high after inflation beat; dollar also up, euro under pressure

Posted on September 12, 2017 at 3:00 pm GMT

The British pound surged to a one-year high in European trading on Tuesday as traders bet on a more hawkish Bank of England following stronger-than-expected UK inflation data. The US dollar extended yesterday’s impressive gains against the yen but the euro struggled. The New Zealand dollar was another major gainer, while gold reversed its earlier losses following fresh threats from North Korea. The main data in today’s European session was the August inflation release out of the UK. Headline inflation [..]

Forex News – Pound surges to 1-year high versus dollar as UK inflation approaches 3%

Posted on September 12, 2017 at 1:13 pm GMT

The pound climbed by almost 1% on Tuesday during the European trading hours, hitting a one-year high against the greenback and extending gains versus the euro after the widely expected UK inflation figures for the month of August came in stronger than expected. With consumer prices rising to a four-year high reached first on May, BOE policymakers will consider seriously whether to deliver a rate hike on Thursday as inflation continues growing above the central bank’s target but wages remain subdued. According to the National [..]

Forex Market Review (European Session) – Euro shines despite Draghi’s warning about FX volatility; dollar tanks

Posted on September 7, 2017 at 2:48 pm GMT

The euro rose higher on optimism that the ECB would soon taper its QE program while the dollar dropped on weak economic data and as another major hurricane is set to hit the United States. In the day’s most anticipated event, the European Central Bank refrained from changing policy although some analysts were expecting an announcement regarding the tapering of its asset purchase (QE) program. Despite the dovish outcome, euro/dollar rose sharply, rising north of 1.20 to 1.2058, just shy [..]

Forex News – Euro drifts lower as Eurozone economic activity stagnates and consumers spend less

Posted on September 5, 2017 at 2:26 pm GMT

Today’s evidence of Eurozone’s economic activity and consumption will sound good news to ECB policymaker’s ears on Thursday when they will gather to decide on monetary policy in Frankfurt. Despite overall economic activity slowing down in August and retail sales declining in the same period, their levels remained robust, supporting GDP growth in the third quarter of the year. In the wake of the data, the euro reacted negatively while it was trying to build an uptrend. Following upbeat manufacturing PMI results out of the Eurozone last [..]

Forex News – As Brexit talks falter, UK services activity slows but exporters see signs of upturn

Posted on September 5, 2017 at 1:18 pm GMT

After defying all the Brexit doom-mongers in the initial aftermath of the shock referendum result, the British economy appears to be succumbing to the uncertainty, with GDP in the first half of the year growing at its slowest in five years. Talks between Britain and the European Union have not gotten to a very good start, with little progress made on key issues after three rounds of negotiations. The uncertain future of the UK’s relationship with its European partners is [..]

Forex Market Review (European Session) – ECB exchange rate concerns drag euro lower; Loonie jumps on Canada GDP beat

Posted on August 31, 2017 at 3:12 pm GMT

A busy economic data session had limited impact on the US dollar and the euro as the greenback maintained its steady recovery, while the euro extended its losses. Risk sentiment remained positive with major European stock indices gaining by almost 1%, though demand for gold held up, with the precious metal climbing 0.6% to $1316 an ounce. Traders chose to put aside their concerns over the heightened geopolitical risks relating to North Korea, while President Trump’s speech yesterday on tax [..]

Forex News – Stronger than expected Eurozone flash CPI fails to lift struggling euro

Posted on August 31, 2017 at 12:28 pm GMT

Following the rise in the Eurozone’s economic sentiment gauge published yesterday, which peaked at the highest level in August since the global financial crisis, inflation for the same month based on flash estimates showed signs of acceleration, while unemployment remained steady. Although the data increase the odds of policy tightening by the ECB at the policy meeting next week, the euro reacted negatively. According to preliminary figures released by Eurostat on Thursday, Eurozone headline inflation rose to 1.5% y/y in August, [..]

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