All Articles Tagged - EURGBP

Forex Market Review (European Session) – Sterling bounces up on BoE Haldane’s comments; dollar flat; WTI oil gains on EIA

Posted on June 21, 2017 at 3:08 pm GMT

In another relatively quiet European session in terms of economic releases and in similar fashion to yesterday, forex market participants mainly reacted to comments by central banking figures, namely the hawkish remarks by a Bank of England policymaker which helped the pound bounce higher. In terms of the few releases during the day, those that attracted most attention were existing home sales data and the Energy Information Administration’s weekly report on crude stockpiles out of the US. Sterling received a [..]

Forex Market Review (European Session) – Dollar posts one-month high; sterling hurt by Carney; oil at 7-month lows

Posted on June 20, 2017 at 3:06 pm GMT

Today’s European session was lacking major economic releases and as a result forex market traders placed most of their bets in reaction to comments by Fed officials, as well as remarks by Bank of England Governor Mark Carney who drove down expectations of a rate hike coming soon by the Bank. The dollar index, a measure of the greenback’s strength versus the currencies of major US trading partners, rose to a one-month high of 97.79 in today’s trading. The greenback [..]

Forex Market Review (European Session) – Sterling gains on growing rate hike expectations; stronger dollar following Fed

Posted on June 15, 2017 at 2:45 pm GMT

The Bank of England coming closer to an interest rate increase shocked currency market participants today, who reacted by placing long sterling positions and thus boosting the currency. The dollar stood stronger today following a more hawkish than expected Fed. The Bank of England left rates unchanged at the record-low 0.25% upon completion of today’s meeting. However, three of the eight Monetary Policy Committee (MPC) members on the Bank’s board decided to support a rate hike, taking markets by surprise [..]

Forex News – Sterling jumps after hawkish BoE; rate hikes could come sooner

Posted on June 15, 2017 at 2:41 pm GMT

The pound jumped after the Bank of England (BoE) policy announcement today, erasing earlier losses against the dollar. The BoE was more hawkish-than-expected and the Monetary Policy Committee (MPC) vote count indicated a surprisingly tight decision. The Bank left its benchmark interest rate unchanged at a record low 0.25%. While this was widely expected, the 5 – 3 vote for a rate hike was not anticipated, suggesting the central bank was coming closer to raising rates. The result sent sterling [..]

FX Daily Outlook | 14-06-17

Posted on June 14, 2017 at 9:44 am GMT

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Forex News – UK inflation rises to near 4-year high; sterling volatile

Posted on June 13, 2017 at 11:30 am GMT

UK Consumer Price Index (CPI) data for the month of May showed annual inflation climbing to a near four-year high. Sterling experienced volatility as the data hit the markets. Turning to the numbers, the annual inflation rate for May stood at 2.9%, above expectations and April’s respective rate, both at 2.7%. On a monthly basis, inflation rose 0.3% in May, beating expectations of a 0.2% rise but coming below April’s 0.5%. The core measure of inflation, which excludes volatile components [..]

FX Daily Outlook | 13-06-17

Posted on June 13, 2017 at 8:16 am GMT

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Technical Analysis – EURGBP bullish; close to 7-month high

Posted on June 13, 2017 at 7:11 am GMT

EURGBP has been in an overall uptrend since the start of May. Yesterday the pair recorded a seven-month high of 0.8866. Today’s down movement has eased the RSI and could hint to a change in momentum. The indicator is still well into bullish territory though at 66. In terms of the Ichimoku analysis, the positive alignment when the Tenkan-sen line (red) crossed above the Kijun-sen (blue) is still in place and also supports a short-term bullish bias. Note though that [..]

Forex Market Review (European Session) – Pound resumes slide; dollar weighed by US tech sell-off

Posted on June 12, 2017 at 3:19 pm GMT

The pound was once again the worst performing major currency on Monday as the May government’s stance on Brexit added renewed pressure on the British currency. The dollar did not fare much better as weaker US equities weighed on the greenback ahead of this week’s FOMC meeting, while the yen benefited from the increased risk aversion to advance higher against all major pairs. Having stabilized late on Friday and in Asian trading today, the pound resumed its downtrend at the [..]

Forex Market Review (European Session) – British drama hurts sterling; dollar advances eyeing Fed meeting

Posted on June 9, 2017 at 3:00 pm GMT

Political developments were dominating investors’ attention today with the outcome of British national elections and the effect on sterling being number one on the watch-list. Less than two weeks’ time before Brexit negotiations get underway, UK Prime Minister Theresa May’s Conservative party lost its majority in the House of Commons. May’s call for snap elections was in the first place intended to give her a stronger hand in negotiating the nation’s exit from the EU and the outcome turned out [..]

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