All Articles Tagged - GBPUSD

US Open Note – Yen is in vertical fall; oil surpasses $82

Posted on October 11, 2021 at 12:57 pm GMT

Yen plunges driving dollar/yen sharply higher As a new week begins, the yen continues to plunge, pushed lower by a comeback in Asian stocks despite a rise in Japanese yields. Indeed, the 10-year JGB yield, which is currently at 0.093%, is on its way to 0.1%. The pound is currently the strongest, thanks to hawkish statements from Bank of England officials over the weekend. The Australian Dollar is closely following, and it is leading other commodity currencies higher as well. The US dollar index is weakening, [..]

Daily Market Comment – Fed taper bets alive and well after NFP miss

Posted on October 11, 2021 at 9:27 am GMT

Treasury yields keep climbing after big miss in US payrolls, pressuring stocks Dollar mixed but steady, may get more direction from Fed and CPI data Pound edges up as BoE flags rate hike again but EU row casts shadow Is it still all systems go for Fed taper? The much anticipated jobs report on Friday raised a lot of question marks about how strong the momentum really is in the US labour market as nonfarm payrolls increased by just 194k [..]

US Open Note – Nonfarm payrolls throw cold water on dollar

Posted on October 8, 2021 at 2:20 pm GMT

Nonfarm payrolls miss forecasts Investors were eagerly waiting for a solid 500k growth in US nonfarm payrolls in September, but the actual results caught everyone by surprise when the data showed a significantly lower addition of 194k. Of course, there were some bright spots in the employment report as the August reading was upwardly revised and average hourly earnings strengthened faster than expected on a monthly basis. Still, the softer job creation was enough to witness the persisting labor shortages [..]

Weekly comment – USD reigns supreme amid energy worries

Posted on October 8, 2021 at 1:21 pm GMT

Energy concerns took a breather after Russia offered to release more natural gas to Europe, but there wasn’t much relief in the FX market. USD continues to outperform as investors bet this crisis will hit Europe and Asia harder than America. The upcoming week seems quite exciting, with a barrage of crucial US data alongside the latest Fed minutes. The highlights: In America, inflation numbers will hit the markets Wednesday, a few hours before the minutes of the latest [..]

UK jobs and GDP data unlikely to relieve pound’s woes as UK risks grow – Forex News Preview

Posted on October 8, 2021 at 12:15 pm GMT

The latest employment report out of the United Kingdom will get the pound’s attention on Tuesday, which will be followed by GDP growth figures on Wednesday, both due at 06:00 GMT. The pound has gone from the best performing major currency at the start of the year to one of the worst over the past month as investors have downgraded their growth expectations for the British economy. Will the upcoming data send fresh warning signals about the UK’s economic health, [..]

Week Ahead – US inflation in focus as energy fears cool

Posted on October 8, 2021 at 10:34 am GMT

Panic around the energy crisis faded a little after Russia offered Europe a helping hand. Stock markets came back swinging but the FX complex didn’t see much relief, with the mighty dollar holding everything else down. Looking into next week, the inflation/growth story will remain front and center with the release of American CPI numbers and retail sales, as well as the latest Fed minutes. Give me shelter The US dollar has reclaimed its throne as king of the FX [..]

Daily Market Comment – Markets perk up ahead of NFP but dollar holds ground

Posted on October 8, 2021 at 8:51 am GMT

Equities advance as inflation and energy fears ease further and US debt default averted But dollar edges up too as US yields climb to fresh highs Focus on US jobs report; will likely clear the path for Fed tapering Risk-on returns as energy panic subsides Another rebound on Wall Street on Thursday set the tone for global equities on Friday as risk appetite recovered further after a tumultuous few days. Stock markets were roiled earlier in the week as energy [..]

US Open Note – Stocks turn green on temporary risk on; antipodeans outperform

Posted on October 7, 2021 at 1:56 pm GMT

Risk-on trading returns Risk-on sentiment continued to navigate markets during late European trading hours on Thursday as worries about the energy crisis took the back seat for the time being and the risk of a government default in the US was expected to be ease today after Democrats showed willingness to raise the debt ceiling to December on the Senate floor. Following complaints that Russia is holding back its energy supplies, mainly from Europe, Vladimir Putin said that his government [..]

Daily Market Comment – Stocks rebound as gloom eases, oil and dollar pull back

Posted on October 7, 2021 at 9:34 am GMT

Sentiment improves after energy prices ease; US debt deal and Biden-Xi meeting help too Strong turnaround on Wall Street pulls global stocks higher but inflation threat not gone Aussie and kiwi lead rebound in FX but energy crisis fears still weigh on euro and pound Fears of an energy crunch subside, for now Markets were in a much more cheerful mood on Thursday as some of the gloom around a deepening global energy crisis, soaring inflation and never-ending supply disruptions [..]

Technical Analysis – GBPUSD moves back and forth of 23.6% Fibonacci

Posted on October 6, 2021 at 1:47 pm GMT

GBPUSD found a resistance point around the 23.6% Fibonacci retracement level of the down leg from 1.4248 to 1.3410 earlier today, remaining in a downward sloping channel. According to technical indicators, the MACD oscillator is attempting to break through its trigger line in the negative region. The RSI indicator, on the other hand, is pointing down below its neutral threshold of 50, and the short-term simple moving averages (SMAs) are also trending south. If the pair fails to break beyond [..]

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