All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD flatlines within bearish channel ahead of BoE

Posted on November 4, 2021 at 8:05 am GMT

GBPUSD has been flatlining within the 1.3600 – 1.3700 area so far this week, unable to find enough buying traction to recoup the pullback from the down-trending channel ahead of the Bank of England’s policy meeting at 12:00 GMT today. On the positive side, the price seems to be rejecting any downfalls towards the bottom of the channel, increasing the case for another test of the upper boundary of 1.3780. Prior to that, the bulls will also need to overcome the shorter-term [..]

US Open Note – Dollar and forex arena steady ahead of FOMC decision

Posted on November 3, 2021 at 1:08 pm GMT

ADP non-farm employment, US ISM Services PMI and Fed take centre stage Today’s key highlight is the FOMC decision scheduled for 18:00 GMT, which is expected to reveal that the Fed will begin reducing the asset purchases of its monthly $120bn bond program. That said, the FOMC press conference is likely to be saturated with rhetoric centred around the speed of tapering, inflation and the timeline of rate hikes once tapering fully concludes. Any surprise rhetoric could fuel volatility in [..]

Daily Market Comment – Dollar holds firm but yields slip ahead of Fed decision

Posted on November 3, 2021 at 10:14 am GMT

Bond yields pressured amid risk of Fed following RBA in pushing back on early rate hike Softer start for stocks after Wall Street notches up another record close Aussie and kiwi recoup losses but pound mired in BoE uncertainty Oil skids on inventories build-up, mounting pressure on OPEC Bond markets choppy as Fed awaited for liftoff clues Markets are gearing for the Fed’s long-anticipated taper announcement on Wednesday when the world’s most important central bank will formally call time on [..]

US Open Note – Stocks near highs, dollar stabilizes, New Zealand employment data due

Posted on November 2, 2021 at 2:44 pm GMT

FOMC and NFP draw focus; RBA sends dovish signals; eurozone data soften US stocks are trading near their all-time highs and the dollar index looks largely unchanged at present as the FOMC meeting is set to get under way today, with the Fed announcing its decision tomorrow. A tapering announcement is already priced in. After yesterday’s stronger-than-expected US ISM manufacturing PMI, including the pricing component, the economy is showing strong expansionary signs and that it may end the year on [..]

BoE to hike rates, pave way for big central banks, but will pound follow? – Forex News Preview

Posted on November 2, 2021 at 7:56 am GMT

The Bank of England’s policy meeting on Thursday is being primed as a live one following a series of strong hints by policymakers that interest rates might have to be raised before the year-end. With November being a ‘Super Thursday’ meeting when updated economic projections and a press conference accompany the decision (due at 12:00 GMT), a rate hike this month rather than in December is more likely. But the real question is, does everyone on the Monetary Policy Committee [..]

US Open Note – Stocks mark a rosy start to the month; FX markets in quiet trading

Posted on November 1, 2021 at 2:59 pm GMT

New record highs for stocks Looking solely at stock markets, one could get the impression that nothing goes wrong, and the remaining pandemic constraints are just a tentative phenomenon, which still allows economies to run up and grow. Of course, some key stocks such as Facebook and Amazon could not jump back into uncharted waters following their earnings releases last week, though overall, guidance from businesses has surprisingly signaled little concern about their future performance. As a result, the pan-European [..]

Technical Analysis – GBPUSD eases below SMAs and falling trend line

Posted on November 1, 2021 at 1:39 pm GMT

GBPUSD has been trading in a downtrend since it topped at 1.4248, holding below the medium-term falling trend line. The bulls tried several times in the previous days to surpass the strong obstacle of 1.3830, which overlaps with the 50.0% Fibonacci retracement of 1.4248-1.3410 and the 200-day SMA, as well as the descending line. The pair has eased below the short-term SMAs with the technical indicators confirming the bearish outlook. The RSI is falling in the negative territory, while the stochastics have declined towards the [..]

Daily Market Comment – Investors hold their nerve as policy tightening looms

Posted on November 1, 2021 at 9:48 am GMT

Equities shrug off weak China PMI data on hopes of more fiscal stimulus in US and Japan Dollar attempts to extend gains as investors zero in on liftoff timing Aussie and pound slip ahead of RBA and BoE meetings Positive start to month as markets look past China jitters Global equities have started November mostly in positive territory, buoyed by fresh all-time highs by Wall Street’s leading indices on Friday. Optimism seems to be the name of the game as [..]

Weekly comment – Central bank fiesta, OPEC meeting, and nonfarm payrolls

Posted on October 29, 2021 at 1:29 pm GMT

The EUR jumped after the ECB didn’t convince investors it will delay rate hikes while stocks cruised higher as the earnings season cheered up the mood. Next week promises even more fireworks with central bank meetings in America, the United Kingdom, and Australia, an OPEC decision that will decide the direction of oil prices, and the latest US employment report. The highlights: The USD will be in the spotlight, as the Fed concludes its meeting on Wednesday and nonfarm [..]

Week Ahead – Dollar braces for Fed and NFP but will BoE steal the limelight?

Posted on October 29, 2021 at 12:58 pm GMT

The Fed’s long awaited tapering announcement will headline the coming week, with the October jobs report adding to the excitement. The Reserve Bank of Australia also has scheduled a regular meeting. However, it is the Bank of England that could roil markets the most as it ponders whether to raise rates early to fight burgeoning inflation. Employment data in Canada and New Zealand will be the other highlights on the data front, while OPEC’s monthly get-together is unlikely to yield [..]

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