All Articles Tagged - GBPUSD

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

Week Ahead – Fed to headline jam-packed week for central banks

Posted on September 17, 2021 at 11:27 am GMT

The Federal Reserve is widely expected to give its clearest signal yet next week that tapering is just around the corner. But the Fed will have to fight for attention as the Bank of Japan, Bank of England and Swiss National Bank meetings are some of the other policy gatherings taking place in the coming days. However, central banks will not be the only ones to fall under the limelight as elections in Canada and the flash PMIs for September [..]

US Open Note – Stocks wane and dollar improves

Posted on September 16, 2021 at 2:16 pm GMT

US retail sales, jobless claims and Canadian ADP Non-Farm labour data take centre stage US major indices are slightly lower as the greenback continues its comeback. It seems consumption endured even as job growth remained burdened last month with August headline retail sales rising to 0.7%, beating July’s -1.8% figure and expectations of -0.8% m/m, while the core data soared to 1.8%, overshooting the -0.1% m/m estimation. Furthermore, the Philly Fed Manufacturing index came in at 30.7, eclipsing August’s and [..]

Technical Analysis – GBPUSD lacks direction, hovers around 200-day SMA

Posted on September 16, 2021 at 1:28 pm GMT

GBPUSD has been trading in a range since December 2020, with no noteworthy directional changes. A neutral bias is confirmed by technical indicators as the price flattens near the 200-day simple moving average (SMA). The MACD is holding near its zero line with poor momentum, while the RSI is moving sideways just above the 50-level. Additional gains may initially test the 1.4000 barrier, which has served as a mid-level of the larger consolidation region. Assuming that this level is breached, then the next target could be found within the [..]

US Open Note – Yen and oil surge as futures are steady

Posted on September 15, 2021 at 1:00 pm GMT

US inflation mildly affects dollar US inflation had a mild negative influence on the dollar, but yesterday’s fragile risk sentiment gave it a boost. This suggests that markets believe the Fed will delay tapering next week, which might lead to a range bound environment until the end of the week. In addition, China’s efforts to rein in private enterprises and the impact of the delta virus strain on economic development are among them. The US dollar index is heading south around the 50-day simple moving average (SMA), [..]

US Open Note – Stocks push up and dollar index slips below 92.44

Posted on September 14, 2021 at 1:52 pm GMT

Markets and the greenback’s reaction connected to US CPI data Today’s pause on market volatility seems to have been hinged around market jitters prior to the release of the US CPI data, which is somewhat seen as the key that opens the taper door. The question is, has the rush to return to normality and subsequent supply bottlenecks been the main driver for inflation, suggesting it is temporary, or is there a deeper reason which the Fed is overlooking? These [..]

Daily Market Comment – US inflation under the microscope

Posted on September 14, 2021 at 8:38 am GMT

Markets brace for latest edition of US inflation today Wall Street stabilizes, aussie struggles on RBA signals Dollar takes a step back, British pound and oil advance US inflation to set the tone With the Fed having almost locked in a November taper announcement, the question now is whether Chairman Powell will use next week’s policy meeting to give the markets an early warning. The answer might boil down to what the upcoming inflation report shows. Forecasts suggest both the headline [..]

Technical Analysis – GBPUSD flattens near 200-day SMA; neutral overall

Posted on September 14, 2021 at 6:58 am GMT

GBPUSD has been in a trading range since the end of December 2020, showing no significant directional moves. In the short-term picture, the price is also flattening near the strong 200-day simple moving average (SMA), with the technical indicators confirming the neutral bias. The MACD is holding near its zero line and the RSI is moving sideways above the 50 level, both with weak momentum. Should the pair strengthen its positive momentum, the next resistance could come around the 1.4000 psychological mark, which has been acting as a mid-level of [..]

Bullish dataset awaited to bolster pound ahead of BoE – Forex News Preview

Posted on September 13, 2021 at 3:27 pm GMT

Sterling has been one of the best performing currencies year-to-date thanks to its immediate vaccination landmark at the start of the year. But despite its latest rebound, buying pressures have been inadequate to drive it above the 1.3900 – 1.4000 resistance territory over the past month. With one week to go until the next Bank of England’s policy meeting and investors being lost between optimism for monetary tightening and fears of slowing economic growth, this week’s data could be crucial [..]

US Open Note – Dollar rises ahead of busy week

Posted on September 13, 2021 at 12:46 pm GMT

Next on radar is US CPI tomorrow A busy week is on the table this week in terms of economic data in the US. This month’s CPI report is expected to show that inflation has slowed down a bit from July’s 13-year high of 5.4% in July. Inflationary pressures will be closely monitored by investors to determine whether the Fed’s tapering will be gradual or quick. The dollar continues to rise with the US dollar index developing near 92.87, surpassing the 50-day [..]

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