All Articles Tagged - GBPUSD

US Open Note – Wall Street could test bearish weekly close; loonie bulls gear after mixed jobs data

Posted on September 10, 2021 at 1:47 pm GMT

US-China relations hit the wires An overnight phone call between the US president Joe Biden and China’s leader Xi Jinping occupied the media on Friday. Not because of the market reaction it caused since that was negligible, but because of the potential positive implications the dialogue could have on the broken US-China trade relations in the future. Although both presidents are focused on managing pandemic headwinds at home, the US trade deficit with China has worsened to fresh highs since the last conversation in [..]

Weekly Comment –USD looks to US CPI as gains trimmed after risk rebounds

Posted on September 10, 2021 at 1:30 pm GMT

The ECB meeting didn’t change much for EUR outlook even though bond purchases were scaled down. Fed policymakers were hawkish too, signalling tapering is firmly on the cards despite the NFP disappointment. However, USD has been unable to sustain its gains from earlier in the week. Can next week’s inflation and retail sales numbers provide much of a boost? The Highlights: US data will be investors’ focal point as the consumer price index is out on Tuesday and retail sales [..]

Technical Analysis – GBPUSD flashes green again and aims for 1.39

Posted on September 10, 2021 at 12:56 pm GMT

GBPUSD is currently pushing up against the upper Bollinger band within the tough resistance section of 1.3877-1.3900. Although the 200-period simple moving average (SMA) is demonstrating the ranging performance of the pair, the upturn of the 100-period SMA and the rising 50-period SMA are together endorsing a pickup in positive impetus. The short-term oscillators are suggesting bullish momentum is on the rise. The MACD, in the positive region, is powering above its red trigger line, while the climbing RSI is [..]

Week Ahead – US inflation takes center stage

Posted on September 10, 2021 at 11:29 am GMT

Without any central bank meetings on the agenda next week, the spotlight will fall on the latest edition of US inflation and retail sales. The chances of a Fed taper announcement this month have fallen dramatically after the disappointing jobs report, but this dataset could still be crucial for the normalization timeline and the dollar. There’s also a storm of economic releases from the UK, Canada, Australia, and China. Supply chain blues It looks like inflation won’t cool as quickly [..]

Daily Market Comment – Stocks perk up but shaky after Biden-Xi call; dollar pares weekly gains

Posted on September 10, 2021 at 8:54 am GMT

Global equities in better mood, Biden-Xi call helps, but Wall Street still looking wobbly Euro buys Lagarde’s ‘not tapering’ depiction, stays sluggish after ECB cuts QE pace Dollar slides again but on track for weekly gains as Fed officials reaffirm taper timeline Stocks buoyed by hopes of improved Sino-US ties Equity markets were looking more cheery on Friday after somewhat of a tumultuous week. Renewed concerns about economic growth amid rising inflation and ongoing disruptions caused by the Delta variant, [..]

Daily Market Comment – Euro steady ahead of ECB but stocks hit by market jitters

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

Euro holds above $1.18 ahead of expected ‘tapering’ by ECB Fresh China crackdowns and fears of slowing growth dent sentiment Stocks slip, dollar rebound eases but yen edges up ECB to taper but call it something else The European Central Bank will probably join the taper bandwagon when it announces the outcome of its policy meeting later today. However, with some way still to go for the Eurozone recovery and a sizeable degree of uncertainty about the outlook, policymakers will [..]

Pound eyes UK GDP data as growth worries heightened after Boris’s tax hike – Forex News Preview

Posted on September 8, 2021 at 2:51 pm GMT

Having started the year on a strong note, the pound’s outlook has dimmed substantially lately as the initial boost from the economic reopening during the spring appears to be fading. The monthly GDP reading due Friday at 06:00 GMT is expected to show Britain’s economic rebound lost further steam in July. That could deepen the pound’s woes following Prime Minister Boris Johnson’s announcement of tax increases to pay for health and social care. UK recovery not yet complete The UK [..]

US Open Note – Market sentiment picks up and dollar takes a step back

Posted on September 8, 2021 at 1:52 pm GMT

Markets prepare for Bank of Canada meeting and US Jolts The major US indices have bounced back to earlier Asian levels, while the greenback has given up a tad of its gains, which it extended from yesterday. Renewed lockdowns and travel restrictions are not aiding growth and the persistently roaming delta variant is nourishing uncertainty around global recoveries, interfering with supply chains, which is feeding higher inflation. This seems to be producing a gloomy mood in the markets. The dollar [..]

Daily Market Comment – Dollar catches a bid; Johnson’s tax plan spooks pound

Posted on September 8, 2021 at 8:58 am GMT

Dollar stretches post-NFP rebound as yields creep up UK looks to tax hikes to cover Covid costs, pound slips to one-week low Loonie struggles ahead of Bank of Canada decision Dollar firms as November taper bets intensify The US dollar recouped more lost ground from the late August selloff as investors grew increasingly doubtful about whether Friday’s softer-than-expected jobs report would derail the Fed’s taper timeline. However, even though the Fed will likely still go ahead with tapering its monthly [..]

US Open Note – Dollar ticks green as markets eye central banks this week

Posted on September 7, 2021 at 1:51 pm GMT

Dollar demand weighs on major peers; US yields assist It appears markets have already forgotten Friday’s disappointing data regarding new jobs created. The somewhat upbeat market mood has lifted the US 10-year yield to 1.3664% and aided the greenback in its comeback today. The dollar index is pushing higher, currently at 92.40 and its renewed strength is reverberating across the forex arena in major pairs. The euro is at $1.1846, the pound is at $1.3770 and the USD/JPY pair has [..]

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