All Articles Tagged - GBPUSD

US Open Note – Growth concerns bring risk-off into play; dollar’s slide halts

Posted on October 21, 2021 at 1:40 pm GMT

Stocks falter as risk-off returns Better-than-expected corporate earnings have been a boon to stock markets this month, with Southwest and American airlines flagging today that even the hardest-hit industries by the pandemic can still stand on their feet despite the energy crisis. Nevertheless, below the surface global economic warnings are still flashing red. The pandemic’s nasty supply shocks will probably keep fueling global inflation pressures for longer and businesses such as Unilever, will not hesitate to transfer costs onto consumers [..]

Daily Market Comment – Evergrande jitters return, yen climbs, dollar steady

Posted on October 21, 2021 at 9:10 am GMT

Evergrande shares plunge after sale of unit falls through, mood sours in equities Treasury yields ease back as Fed dampens early rate hike talk Yen bounces back, dollar edges up but commodity currencies take a tumble Stocks under pressure as Evergrande default risks grow Equity markets were feeling the strain of a fresh panic about China’s heavily indebted property sector after troubled real estate giant – Evergrande – told investors that the sale of its property services unit for $2.6 [..]

US Open Note – Stocks oscillate near record highs; commodity currencies hold firm

Posted on October 20, 2021 at 1:50 pm GMT

Stocks consolidate gains as earnings surprise Stock markets have been relatively flat marginally below their summer record highs during early US trading hours on Thursday, with the pan-European STOXX 600 consolidating last week’s impressive rebound and US stock indices switching between gains and losses. While investors were almost convinced that higher input costs, labor shortages and lack of raw materials would raise serious concerns among companies, the earnings season has surprisingly been a tailwind to equity markets so far, showing [..]

Technical Analysis – GBPUSD eases after finding resistance at 200-day SMA

Posted on October 20, 2021 at 12:50 pm GMT

GBPUSD is retreating somewhat after finding resistance at the upper boundary of the descending channel around the 50.0% Fibonacci retracement level of the down leg 1.4248-1.3410 at 1.3830 and the 200-day simple moving average (SMA). The short-term oscillators are showing a decrease in positive momentum in the pair. The stochastic oscillator has moved below the overbought region and the RSI is ticking down but is still above the neutral threshold of 50. If the price continues lower, sellers may first meet negative friction between [..]

Daily Market Comment – Dollar steadies as yields climb, Wall Street edges closer to record highs

Posted on October 20, 2021 at 8:46 am GMT

Dollar off lows as 10-year yield hits 5-month high but Fed rate hike still seen lagging others Yields likely to stay in spotlight as raft of Fed speakers coming up Strong earnings drive S&P 500 to fifth day of gains, but futures slip Rate repricing underway Expectations that high inflation is here to stay continued to firm in the bond markets, sending global bond yields to fresh highs in the last 24 hours. With energy and metal prices still soaring, [..]

US Open Note – Stocks buoyant, dollar slips and gold improves

Posted on October 19, 2021 at 1:55 pm GMT

Sentiment upbeat as US yields retreat; FOMC speakers to draw focus The recent climb in US stocks appears supported by gains in the technology and communication service sectors. Moreover, expectations of strong earnings and the stabilization in longer-term yields, after a drop, are not aiding the greenback. Despite the pickup in sentiment, inflationary concerns and the energy crisis seem to be risks that may drag on for a while longer. The dollar index surrendered ground from the 94.00 mark down [..]

Daily Market Comment – Dollar slumps, stocks advance amid earnings optimism

Posted on October 19, 2021 at 9:08 am GMT

US tech rebound leads global stocks higher as earnings season about to heat up Dollar plunges as mood improves and Fed seen falling behind in the tightening race Riskier currencies power ahead as US yields fall back Focus on earnings as jitters subside Worries about soaring inflation, supply-chain chaos and slowing growth in China were put on the back burner on Tuesday as investors turned their attention on the Q3 earnings season that kicked off last week with a bang. [..]

Technical Analysis – GBPUSD nears 1.38 mark; bullish bearing intact

Posted on October 19, 2021 at 8:33 am GMT

GBPUSD is pushing up against the upper Bollinger band, which is converging with the 100-day simple moving average (SMA) at 1.3801, trying to extend further the hike from the 9-month low of 1.3411. The 200-day SMA is endorsing a neutral tone, while the bearish demeanour in the 50- and 100-day SMAs seems to be easing. The short-term oscillators are reflecting an increase in positive momentum in the pair. The MACD has advanced above its red trigger line and is currently [..]

Pound rally eases ahead of UK CPI and PMI data as BoE again flags rate hike – Forex News Preview

Posted on October 18, 2021 at 4:17 pm GMT

It’s a busy week for UK data releases as some crucial indicators on inflation, consumption and overall economic activity are due ahead of the Bank of England’s policy meeting in the first week of November. The latest read on the consumer price index is out on Wednesday (06:00 GMT) and will be followed by retail sales (06:00 GMT) and flash PMI (08:30 GMT) data on Friday. Intensifying speculation that the BoE is getting ready to raise interest rates for the [..]

US Open Note – Inflation risks and the rate conundrum, dollar hangs in there

Posted on October 18, 2021 at 1:57 pm GMT

Risk evaporates but US Industrial production disappoints Market sentiment softened and the dollar remained subdued on the first trading day of week. Expectations that the Fed is preparing to taper is keeping the reserve currency afloat as well as pushing up the 10-year yield close to 1.62%. Inflation risks seem to be pushing central banks to take action, as markets are pricing in interest rate hikes in the later parts of 2022. US industrial production in September was much weaker, [..]

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