All Articles Tagged - GBPUSD

US Open Note – Stocks struggle as upbeat dollar endures, gold recoups some losses

Posted on September 29, 2021 at 1:50 pm GMT

Market tone sparks concerns around high inflation and lagging growth Although the global energy crisis is putting pressure on economies resulting from China’s coal shortages, as well as rising natural gas prices and disruptions in oil production in the US, investors’ focus will shift towards the virtual panel discussion at the ECB Forum on Central Banking scheduled at 15:45 GMT, where central bank governors will participate. Yesterday, Chair Powell and Secretary Yellen touched on the fact that failing to raise [..]

Daily Market Comment – Wall Street calms down after sharp selloff

Posted on September 29, 2021 at 8:53 am GMT

Rising rates and inflation worries torment stock markets Sterling crumbles despite mounting bets for BoE rate hikes Japan gets a new prime minister, China releases PMIs Yields go into overdrive Stock markets continue to dance to the tune of rising bond yields. It is not so much the magnitude of the spike in yields but rather the speed of this move that has caught investors by surprise. The burning question is what’s driving this sharp repricing in interest rates – [..]

US Open Note – Market sentiment dulls; dollar aided by climb in yields

Posted on September 28, 2021 at 1:40 pm GMT

Stocks pull back and dollar firms, ready to digest central bank speeches The US major indices are retreating as a result of a dampened market mood on the back of global energy uncertainties and rising yields, which have simultaneously underpinned the king dollar. Currently the 10-year yield is at 1.53% and may be adding to the haven appeal of the reserve currency, reinforcing its latest resilience. The dollar index floated up until 93.65. The greenback has strengthened across a basket [..]

Technical Analysis – GBPUSD steering forces feeble around support base

Posted on September 28, 2021 at 8:34 am GMT

GBPUSD is consolidating in the proximity of the support foundation of 1.3564-1.3621, which has defended the positive structure from the beginning of February. The converging simple moving averages (SMAs) are currently lacking a clear direction in trend. Furthermore, the short-term oscillators are indicating a phase where directional momentum is not decisive. The MACD, is flattening below its red trigger line slightly beneath the zero threshold, while the RSI is drifting sideways in negative territory. The stochastic oscillator’s %K line has [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

US Open Note – Evergrande ghost haunts markets; euro weaker ahead of German election

Posted on September 24, 2021 at 1:25 pm GMT

Evergrande’s drama continues Evergrande’s drama continued to spook markets on Friday as investors had no clue whether China’s giant property developer, which owes a debt larger than the external debt many entire countries face, had successfully met Thursday’s $83.5 million coupon payment. The company now has a 30-day grace period before it declares a default, and it will not be the first time a Chinese company uses this period to arrange its obligations. Though, it’s historically proven that the wait [..]

Daily Market Comment – Bond markets come alive as tighter policy looms, stock rally eases

Posted on September 24, 2021 at 9:27 am GMT

Sovereign bond yields jump on optimism and rising prospect of policy tightening Equities rebound fizzles out as lingering doubts about Evergrande cuts party short Dollar gives up all post-Fed gains but limited bounce back for riskier currencies Bond markets finally wake up to the sound of central banks US Treasury yields led the surge in global government bond yields amid a delayed response to the flagging of an imminent taper announcement by the Federal Reserve on Wednesday. Bond traders finally [..]

Technical Analysis – GBPUSD support base holds firm but advances curbed by 50-MA

Posted on September 24, 2021 at 9:08 am GMT

GBPUSD’s bounce at a one-month low of 1.3608, just shy of the floor of the short-term trading range, has become capped by the 50-period simple moving average (SMA). The trendless SMAs have been zig zagging for around two-months and are now holding a slight bearish tilt, with the 50-period SMA exhibiting a more potent negative bearing. The Ichimoku lines are indicating that downward forces have yet to fully abate, while the short-term oscillators are conveying conflicting messages in directional momentum. [..]

US Open Note – BoE cheers pound bulls; stocks maintain post-Fed advances

Posted on September 23, 2021 at 1:42 pm GMT

BoE sends some bullish shockwaves The Bank of England (BoE) left its policy settings unchanged as expected with a vote of 9-0 to keep interest rates steady at 0.1% on Thursday but provided some hawkish tilts for the pound to distance itself from the key 1.3600 support level and drift above 1.3700 against the US dollar. The BoE committee judged that despite some uncertainties that remain to be tacked, price developments over the forecast period have strengthened the case for [..]

Daily Market Comment – Hawkish Fed brings out the bulls as dollar and stocks rise

Posted on September 23, 2021 at 9:27 am GMT

Fed signals November taper and early rate hike, but slow timeline lifts markets Dollar jumps in response before pulling back, Wall Street buoyed too Evergrande fears ease further, boosting sentiment Pound bounces off one-month lows, awaits BoE decision Powell outlines taper roadmap The Federal Reserve took its biggest step yet towards scaling back its pandemic stimulus on Wednesday following the conclusion of its two-day policy meeting. As expected, the Fed kept its policy unchanged but signalled that “a moderation in [..]

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