All Articles Tagged - GBPUSD

Market Comment – Euro extends losses on French election jitters

Posted on June 17, 2024 at 9:02 am GMT

Euro hits 6-week low as risk premium for French debt jumps But equities mixed as selloff eases Trio of central bank decisions eyed Euro rocked by fresh fears of a debt crisis Concerns about the real risk of a far-right government in France continue to dog the euro after they resurfaced towards the end of last week. Having shed more than 1% so far in June, the euro is struggling to hold on to the $1.07 level on Monday and [..]

Technical Analysis – GBPUSD meets steep ascending line

Posted on June 14, 2024 at 11:03 am GMT

GBPUSD is bullish in short-term and neutral in long-term Stochastics and RSI indicate negative pressure GBPUSD is flirting with the steep short-term uptrend line around 1.2730, easing beneath the 20-day simple moving average (SMA). The technical oscillators are showing signs of more downside pressure. The stochastic is creating a bearish crossover within its %K and %D lines, while the RSI is falling near the neutral threshold of 50. If the bears take the upper hand, the market may challenge the [..]

Week Ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap

Posted on June 14, 2024 at 9:21 am GMT

It will be another central-bank-heavy week with the RBA, SNB and BoE None are expected to cut but there’s room for surprises Retail sales will be the highlight in the United States Plenty of other data also on the way, including flash PMIs and UK CPI RBA is in a pickle The Reserve Bank of Australia will keep the central bank theme going on Tuesday when it meets for its June policy decision. Like their global peers, RBA policymakers had [..]

Midweek Technical Look – Gold, GBPUSD, EURJPY

Posted on June 13, 2024 at 12:44 pm GMT

Gold trims gains after FOMC rate decision; at risk of bearish trend reversal below 2,290 GBPUSD closes below 1.2800 barrier despite hitting 3-month high EURJPY exhibits favorable attitude; next resistance at 170.78 [..]

Volatility surges across the board – Volatility Watch

Posted on June 11, 2024 at 9:46 am GMT

Forex pairs are very volatile after strong NFP report Volatility in gold and silver ticks up, oil swims in calm waters US equities exhibit volatility jump amid correction fears Volatility in dollar crosses has picked up as the stronger-than-expected NFP report dialed back rate cut expectations, while investors are bracing for the FOMC meeting and the CPI print later this week. Euro pairs are in a similar position after the EU elections sparked a wave of politically instability across major countries like France and Belgium. In commodities, gold and silver have [..]

Market Comment – Market prepares for Wednesday’s events

Posted on June 11, 2024 at 8:03 am GMT

Euro tries to recoup part of Monday’s losses US stock indices trade sideways but volatility remains high Lighter US calendar but some interest on the 10-year bond auction Pound is on the backfoot after the weaker jobs data Euro tries to recover from Monday’s drop The euro remains on the backfoot following Sunday’s European election results. The snap parliamentary elections called in France have been generating the most headlines, but the key event of the weekend was the very weak [..]

Technical Analysis – GBPUSD retreats from almost 3-month high

Posted on June 11, 2024 at 7:21 am GMT

GBPUSD advances to its highest level since March 13 But then reverses lower as rally got overstretched Momentum indicators ease but remain in positive zones GBPUSD has been in a steady recovery following its bounce off the 2024 bottom of 1.2298, with the price violating both the 50- and 200-day simple moving averages (SMAs). In the near term, although the pair surged to an almost three-month high, it sustained some losses probably due to some profit taking. Should the pullback extend, the recent [..]

Week Ahead – Fed and BoJ decide on monetary policy

Posted on June 7, 2024 at 7:08 am GMT

US CPI data and Fed to determine the dollar’s fate Will the BoJ signal that another rate hike is looming? Pound traders await UK employment and GDP numbers RBA hike bets shrink ahead of AU jobs and China CPI data Mind the dots With US inflation resuming its downtrend in April and the ISM manufacturing PMI for May disappointing, investors remained convinced that the Fed will begin lowering interest rates at some point this year. Currently, they are penciling [..]

Volatility ticks up in commodity and stock markets – Volatility Watch

Posted on June 4, 2024 at 8:54 am GMT

Forex pairs in a quiet mood despite upcoming rate decisions Volatility in oil skyrockets, gold swims in calm waters US equities exhibit volatility jump as they ease from record highs Euro/dollar and euro/pound volatilities have been in the middle of their 30-day range, even though markets are bracing for the first interest rate cut by the ECB since 2016 on its Thursday meeting. Moreover, activity in the yen remains relatively subdued as the Japanese currency has been recovering some ground from its recent multi-year [..]

Market Comment – Market craves weaker US data

Posted on June 4, 2024 at 8:09 am GMT

Monday’s weaker ISM survey pushes the dollar lower Euro/dollar rallies to a 3-month high ahead of the ECB BoC could announce a rate cut tomorrow; loonie may suffer Oil tanks as bearish factors multiply Dollar gets on the backfoot A rather busy week for the US economy started on the back foot for the US dollar yesterday as the ISM manufacturing survey edged lower in the sub-50 territory, pointing to a deteriorating outlook for this sector. Interestingly, the drop in [..]

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