All Articles Tagged - GBPUSD

US Open Note – Dollar flat as Powell continues to feed Wall Street bulls

Posted on August 30, 2021 at 1:58 pm GMT

Dollar remains muted after Friday’s pullback The delta wave uncertainty forced Federal Reserve Chairman Jerome Powell to play it safe during Friday’s Jackson Hole symposium, setting no timeline and expressing no rush for winding down stimulus despite flagging that bond tapering will start this year. His dovish remarks sent the dollar index lower but within the 92.00 territory as the euro and the pound found the chance to steal some ground on the news. ECB’s Villeroy signals PEPP reduction, but [..]

Daily Market Comment – Fed hawks rattle Wall Street ahead of Powell

Posted on August 27, 2021 at 9:27 am GMT

Three Fed officials call for start of tapering; Wall Street unnerved but futures bounce back Dollar also reverses earlier moves, edges lower ahead of Powell’s Jackson Hole speech Afghanistan and Delta worries also put investors on edge, gold climbs But China policy support soothes some nerves, stocks mixed Fed hawks make their case; will Powell follow suit? As all eyes turn to Jay Powell’s keynote address at the virtual Jackson Hole symposium later today, three Fed officials made clear where [..]

US Open Note – Dollar steady as Fed speakers play down Jackson Hole fireworks

Posted on August 26, 2021 at 1:25 pm GMT

Waiting for Jackson Hole symposium FX markets hardly found any inspiration to move during Thursday’s European session as investors were eagerly waiting for the Jackson Hole symposium on Friday. The economic conference, which invites central bankers, finance ministers and important investors from around the world once in a year, will start today in a virtual form, carrying the theme “Macroeconomic Policy in an Uneven Economy”. The full agenda scheduled will be released at 0000 GMT today, but the biggest highlight [..]

Technical Analysis – GBPUSD slips marginally lower in long-term trading range

Posted on August 25, 2021 at 2:02 pm GMT

GBPUSD is turning slightly lower today after two consecutive green days, remaining in a long-term trading range. The RSI is pointing down below the neutral threshold of 50 and the MACD is still below its trigger line, despite the slight upside strengthening of its positive momentum, which is promising. The SMAs are acting as strong resistances around 1.3800-1.3810 if the pair moves further north. Overcoming these obstacles, the next stop could be at the 1.4000 psychological level ahead of the 35-month high of [..]

US Open Note – Markets calm down ahead of Jackson Hole

Posted on August 25, 2021 at 12:53 pm GMT

FOMC meeting and Jackson Hole attract attention There have been several confusing messages leading up to the summit (27 August). The Fed’s vice chair, Clarida, hinted at an early taper when he stated that rates could rise as early as 2022. In the US, the number of covid cases and deaths is on the rise. Especially after Kaplan’s comments on Friday, investors are increasingly focused on this factor in the run-up to the FOMC. This Thursday, the Federal Reserve’s annual Jackson Hole Symposium gets underway, and it [..]

Daily Market Comment – Dollar finds footing as Jackson Hole awaited, stocks fly again

Posted on August 25, 2021 at 9:14 am GMT

Markets turn to Jackson Hole for direction amid uneasy optimism Dollar edges up after three-day slide, while Wall Street climbs to fresh records China cash injection, House infrastructure vote lift sentiment, but Delta still a worry Calm sets in before possible Fed storm After a volatile week, markets were in much steadier waters on Wednesday, with the US dollar halting its losing streak and equities holding onto their gains. Optimism that the global economic recovery from the pandemic will only [..]

Daily Market Comment – Stocks extend rebound, dollar tanks as Fed taper and Delta worries ease

Posted on August 24, 2021 at 9:12 am GMT

Risk sentiment continues to improve as Fed seen delaying taper signal Delta fears also subside as FDA’s full approval of Pfizer vaccine adds to optimism Wall Street flirts with record highs, dollar flounders as commodity currencies fight back Fed taper expectations pared back amid virus risks Growing signs that the Delta wave is proving to be a bigger headwind for the US economy than initially anticipated have cooled expectations that the Federal Reserve will commit to a tapering timeframe at [..]

Technical Analysis – GBPUSD lays foundation for an upside reversal

Posted on August 24, 2021 at 7:25 am GMT

GBPUSD built the foundation for a new bullish wave after completing a morning star candlestick pattern with a tall green candle on Monday. The cheering setup occurred near the surface of the broken descending channel, which acted as a lifesaving support this time, and around the previous low of 1.3570, further endorsing the case for an upside reversal. In momentum indicators, signals are encouraging as well given the clear rebound in the RSI and the Stochastics, though the former has yet to [..]

US Open Note – Risk currencies become the best performers as delta fears persist

Posted on August 23, 2021 at 1:16 pm GMT

Jackson Hole in focus, as delta strain challenges policy decisions Although not a game changer yet, the RBNZ policy announcement showed last week that the spread of the delta virus strain could bring some rescheduling in monetary policy plans, and therefore some exciting volatility in FX markets. Policymakers postponed a widely expected 25 bps rate hike for later in the year as a handful of new cases was enough to prompt a snap lockdown given the low vaccination rates in [..]

Daily Market Comment – Equities perk up but Delta casts shadow over Jackson Hole

Posted on August 23, 2021 at 9:16 am GMT

Trading gets off to a somewhat more positive start as stocks and commodities rise, dollar slips But Delta surge forces Jackson Hole to go virtual again, taper clues in doubt Flash PMIs in focus amid recovery fears as Delta variant rages on Panic subsides but could be the Fed’s turn to get jittery After a tumultuous week, the market mood brightened somewhat on Monday after stocks on Wall Street extended their rebound on Friday. Bargain hunting appears to be reviving [..]

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