All Articles Tagged - GBPUSD

Daily Market Comment – Inflation and growth worries take heat off stocks rebound, dollar firms

Posted on October 18, 2021 at 8:58 am GMT

China GDP misses estimates, New Zealand CPI surges, reviving stagflation fears Stocks back in the red as doubts resurface but hopes on earnings keep optimism alive Bond yields edge up again as oil keeps climbing Kiwi erases earlier gains from rate hike bets as dollar bulls regain control China growth disappoints, dents risk appetite Economic growth in the world’s second largest economy slowed more than expected in the third quarter as China reported that GDP rose by 4.9% from a [..]

US Open Note – Yen still plunges; oil heads towards $82.00

Posted on October 15, 2021 at 1:07 pm GMT

Dollar index on mute today; US retail sales surprised The dollar index is hovering around 94.00 today, following two red days; however, dollar/yen is heading sharply higher towards a fresh three-year high around 114.20 due to a weakened Japanese yen. US retail sales unexpectedly rose 0.7% for September versus an upwardly revised 0.9% the prior month. A dovish Bank of Japan and growing 2-year U.S.-Japan rate differentials continue to be important factors. US futures are suggesting another positive day, after strong earnings releases. The single currency [..]

Week Ahead – Inflation, supply chain fears to persist as China GDP, flash PMIs eyed

Posted on October 15, 2021 at 12:44 pm GMT

Inflation data will grab the headlines for another week as more countries publish CPI numbers. But concerns about global growth will also preoccupy investors’ minds as China reports its GDP estimate for the third quarter and flash PMI figures for October are released. With the major central banks preparing to pull back their pandemic-era stimulus just as supply constraints are adding to businesses’ pain, there is heightened sensitivity in the markets about the growing threat of persistently high inflation. Will [..]

Weekly Comment – Risk appetite returns but China GDP could revive slowdown fears

Posted on October 15, 2021 at 12:03 pm GMT

Stocks staged a mid-week comeback after fears about surging inflation and worsening supply shortages had pummelled risk assets. But easing concerns have put a stop to the spike in government bond yields, with USD also pulling back. However, those fears could quickly return as a raft of inflation and PMI data are on the way and China reports its GDP numbers. The highlights: China’s economy will be in the spotlight on Monday as GDP figures are expected to show growth [..]

Technical Analysis – GBPUSD returns above 200-MA; positive tone intact

Posted on October 15, 2021 at 8:27 am GMT

GBPUSD is retesting yesterday’s resistance barricade of 1.3716-1.3733 that halted additional gains from materialising. The longer-term 100- and 200-period averages are not endorsing a definitive price trend, while the 50-period SMA is supporting the latest climb in the pair. The Ichimoku lines are indicating that upside momentum is growing, while the short-term oscillators are demonstrating that bullish forces are strengthening. The MACD above the zero mark has started to rise again, while the RSI is gaining in bullish territory. The [..]

US Open Note – Stocks buoyant, dollar flashes green and commodities resilient

Posted on October 14, 2021 at 1:55 pm GMT

Market sentiment intact after cheery jobless claims and miss in US PPI Sentiment remains upbeat as US stock futures are extending their recent buoyancy after a drop in longer-term yields. The Fed’s meeting minutes published yesterday echoed the recent hawkish rhetoric, signalling that the taper timeline is likely to begin before the end of the year and fuelling expectations of an earlier rate hike. However, investors are now eyeing a lower terminal rate as a result of earlier action by [..]

US Open Note – Dollar remains stable after CPI and before FOMC Minutes

Posted on October 13, 2021 at 1:11 pm GMT

US CPI data jumps to 13-year high; dollar still firm The main event today was the release of the US CPI data ahead of the FOMC minutes later in the session. The annual inflation rate increased to a 13-year high of 5.4%, up from 5.3% in August and beyond market estimates of 5.3%. Consumer prices increased by 0.4% monthly, slightly exceeding predictions of 0.3%. The dollar seems to be keeping its recent gains. USD/JPY is holding below the 34-month high of 113.70. However, the euro is recouping some losses, trading near $1.1565, after [..]

US Open Note – Sentiment hushed as durable dollar climbs with yields

Posted on October 12, 2021 at 2:29 pm GMT

Markets look for clues in JOLTS data and FOMC speeches The current market picture is one of stubborn inflation, rising yields, and expectations of a nearing Fed announcement of the taper timeline, specifically in the November FOMC meeting. Global growth has somewhat slowed as the consequences from the energy crisis hamper economies. That said, markets will try to extract clues from Fed speakers over the week especially after the disappointing NFP payrolls from Friday. Rising yields are aiding the earlier [..]

Daily Market Comment – Yen smashed by rising yields

Posted on October 12, 2021 at 8:58 am GMT

Japanese yen gets hit by soaring bond yields and energy prices Stock markets continue to grapple with a myriad of risks Sterling weighs BoE rate hikes, euro/dollar remains heavy Nightmare environment for yen A powerful recovery in bond yields across the world is inflicting some serious damage on the Japanese yen. The Bank of Japan’s yield curve control strategy essentially keeps a ceiling on Japanese yields, rendering them unable to join the global rally and making the yen less attractive [..]

Technical Analysis – GBPUSD stays on the sidelines as negative risks still linger

Posted on October 12, 2021 at 8:23 am GMT

GBPUSD continued its short consolidation phase marginally below the 20-day simple moving average (SMA), as it was unable to close decisively above the 1.3600 level over the past week. The 23.6% Fibonacci retracement of the 1.4248 – 1.3411 downtrend is currently keeping the bulls under control around 1.3608 as the technical picture is providing little hope for a change in the downbeat market sentiment. Despite the quick rebound off the 30 oversold level, the RSI remains stuck below its 50 neutral mark, while the Stochastics have clearly [..]

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