All Articles Tagged - EURGBP

Technical Analysis – EURGBP loses steam but still strongly bullish

Posted on August 31, 2017 at 11:10 am GMT

EURGBP lost some steam yesterday as the pair retreated from Wednesday’s near 8-year high of 0.9306. The pull-back was expected given that the RSI had risen to extremely overbought territory. Another signal for a downside reversal came from the Bollinger bands. Prices had been trading close to the upper Bollinger band since the beginning of August and spiked above it on Wednesday. The RSI is slightly up today and approaching the 70 level again, suggesting the near-term bias remains strongly [..]

Forex Market Review (European Session) – Dollar extends rebound on US data; euro runs out of steam

Posted on August 30, 2017 at 3:07 pm GMT

Risk sentiment improved notably on Wednesday as geopolitical risks ebbed, helping the US dollar extend its gains into the European session. The euro was the worst performing major currency as the three-day sharp rally ran out of steam. The commodity-driven Canadian, Australian and New Zealand dollars also came under pressure against the resurgent dollar but the pound was a surprise outperformer. The euro was unable to hold on to the $1.20 handle after rising above the level yesterday for the [..]

Forex News – Moody’s upbeat on G20 growth but warns of geopolitical risks and protectionism

Posted on August 30, 2017 at 12:53 pm GMT

The credit rating agency, Moody’s Investors Service, gave an upbeat assessment of the G20 economies in its latest outlook report on Tuesday. Moody’s says it expects annual growth in the G20 countries to average at just above 3% in both 2017 and 2018, up from the 2.6% seen in 2016. Higher-than-expected growth in the first half of the year in the Asian powerhouses of China, Japan and South Korea, as well as strengthening momentum in the Eurozone has led Moody’s [..]

Forex Market Review (European Session) – Dollar remains under pressure; euro and gold extend gains

Posted on August 29, 2017 at 2:29 pm GMT

The US dollar remained under pressure in European trading today, extending its Asian session losses, while the euro and gold added to their earlier gains. The risk aversion brought on from North Korea’s latest missile tests, which violated Japanese airspace, showed little sign of dissipating, with major European indices falling deep into the red. Dollar weakness lifted other majors however, with sterling, and the Canadian, Australian and New Zealand dollars all rising on the back of the greenback’s slide. The [..]

Forex Market Review (Asian Session) – Dollar under pressure after North Korean missile test; euro breaks 1.20

Posted on August 29, 2017 at 7:45 am GMT

The dollar and risk assets were retreating during Tuesday’s Asian session after a new ballistic missile test by North Korea. The novel feature of the latest missile test by North Korea compared to previous tests was that it flew over the Northern Japanese island of Hokkaido before landing in the Pacific Ocean, which seems to be a first. This caused grave concern in Japan. Despite the fact that Japan was the country that the missile had overflown, the yen gained [..]

Forex News – Sterling hovers near new lows as Britain makes first step on Brexit legislation and growth stagnates

Posted on August 24, 2017 at 3:32 pm GMT

Today marks a year how the UK Prime Minister gave a speech about Brexit in a Conservative conference and said that “We are not leaving only to return to the jurisdiction of the European Court of Justice — that’s not going to happen”. Yesterday, though, while May reiterated her view on Britain’s own legal path, a Brexit paper on “enforcement and dispute resolution” submitted by the state’s secretary David Davis expressed a different opinion. Following the report, which revealed that [..]

Forex Market Review (European Session) – Dollar firmer as risk appetite improves ahead of Jackson Hole; pound perks up on euro weakness

Posted on August 24, 2017 at 3:19 pm GMT

Risk appetite improved notably on Thursday as investors shrugged off the threat of a government shutdown in the United States to focus on the three-day Jackson Hole gathering of central bankers in Wyoming, which starts today. The US dollar extended its Asian session gains to climb towards 109.50 yen, but the euro floundered ahead of an extended speech by ECB head Mario Draghi tomorrow in Jackson Hole. GDP data dominated the early European session as growth figures were released in [..]

Forex Market Review (Asian Session) – Dollar caps losses, gains against majors; kiwi tumbles to more than 2-month lows

Posted on August 24, 2017 at 7:46 am GMT

The dollar managed to recoup some of yesterday’s losses against the yen, when the US currency tumbled on the President’s remarks about a government shutdown. Other majors also weakened with the kiwi underperforming as it tumbled to more than a two-month lows against the greenback. Oil prices slipped after yesterday’s surge. During another relatively quiet trading day in Asia, the dollar managed to reverse its losses and post a moderate gain against the yen. Dollar/yen was last trading at 109.27, [..]

Forex Market Review (European Session) – Euro gains on PMI, hits fresh 10½-month high Vs sterling; dollar hurt by Trump, data misses

Posted on August 23, 2017 at 3:10 pm GMT

During today’s European session, forex market participants pushed the euro higher on the overall positive picture given by the PMI figures released earlier in the day. In the meantime, the dollar index was down with the US currency being on a negative footing in today’s trading after some comments made by the US President yesterday in Phoenix. Data releases falling short of forecasts also weighed on the US currency. Eurozone flash PMI figures for the month of August were released [..]

Forex News – Euro hits higher as Eurozone PMI readings surprise to the upside and Draghi gives no clues on policy

Posted on August 23, 2017 at 11:50 am GMT

During early European hours, the euro pared almost half of yesterday’s losses against its US counterpart after preliminary Markit composite PMI readings out of the Eurozone indicated that business activity in the block continued strengthening in August, despite a pullback in the previous month. Before the data release, ECB president, Mario Draghi, did not comment on future monetary policy plans during his public appearance in Germany. Following a disappointing performance in July, flash IHS Markit PMI figures out of Eurozone [..]

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