All Articles Tagged - GBPUSD

Week Ahead – Fed taper: will they or won’t they? Splits loom over Jackson Hole

Posted on August 20, 2021 at 1:05 pm GMT

The upcoming week will kick off with a bang as the flash PMI readings for August will flood the markets on Monday. However, it might go all quiet after that before Fed officials gather at Jackson Hole later in the week for this year’s economic symposium, which is set to be dominated by discussions on how and when to unwind the Fed’s emergency stimulus. Will policymakers finally lay out their tapering plans, potentially lifting the US dollar to fresh yearly [..]

US Open Note – FX markets head south; stocks continue to drop

Posted on August 20, 2021 at 12:57 pm GMT

Dollar index rises slightly Watered-down expectations heading into Jackson Hole next week reveal more about the economy than the Fed’s plans to taper. If the Fed does not announce a taper soon, the fear is that they will not have the opportunity to do so if the US virus situation does not get better in the coming months. The US dollar index is surging to a new nine-month high of 93.67 today, posting the fifth consecutive green day. The greenback is flattening against the Japanese [..]

Weekly comment – All eyes on the Fed for taper signals

Posted on August 20, 2021 at 11:57 am GMT

Commodity-linked currencies like the AUD, NZD, and CAD were slaughtered in a week dominated by concerns around global growth. Stock markets suffered too alongside oil prices, while the USD shined bright as investors looked for shelter. Next week will bring the Fed’s highly anticipated Jackson Hole symposium and a barrage of crucial data. The highlights: Federal Reserve officials will gather on Thursday for an event that’s been used in the past to signal major policy moves. Will Chairman Powell [..]

Pound tumbles ahead of UK PMIs as global sentiment sours – Forex News Preview

Posted on August 20, 2021 at 11:02 am GMT

It’s been a bruising week for sterling as investors have been selling riskier currencies and buying US dollars amid fresh jitters about the global growth outlook. A mixed bag of data out of the United Kingdom over the past week hasn’t helped matters for the pound and Monday’s flash PMI prints due at 08:30 GMT probably won’t either. Delta scare wreaking havoc The Delta variant has been front and centre for investors this week as its spread is showing [..]

US Open Note – Riskier currencies plummet amid dollar strength

Posted on August 19, 2021 at 12:57 pm GMT

FOMC minutes drive dollar up Following the minutes from the latest FOMC meeting, the dollar index rose to 93.4 on Thursday, the highest closing level since November 2020. Numerous market participants now believe that the Fed will disclose a tapering timeline at the Jackson Hole Symposium next week. There will be less cash poured into the system if asset purchases are reduced. US stocks slid and are headed for a negative open today, while dollar/yen is heading south around 109.60. [..]

Technical Analysis – GBPUSD heads up after the slip below 200-day SMA

Posted on August 18, 2021 at 1:26 pm GMT

GBPUSD is trying to overcome the crucial 200-day simple moving average (SMA) but the bias is still neutral in the short- and medium-term timeframes. Regarding the technical indicators, the MACD is declining below its trigger and zero lines; however, the RSI is ticking up in the negative territory. Moreover, the 20-day SMA is ready for a bullish cross with the 40-day SMA, suggesting a bullish bias. In the event of an upside reversal, the 1.4000 level could become a hurdle before being able to [..]

US Open Note – FOMC minutes next on the radar; greenback steady

Posted on August 18, 2021 at 1:13 pm GMT

Dollar awaits FOMC minutes for notable move The major highlight of the day is expected to be the FOMC minutes announcement. In the run up to the Jackson Hole Symposium next week, the minutes from the July 27-28 meeting will be of considerable interest. Investors are anticipating to see a highly hawkish tone in the minutes. A hawkish change is likely to occur in the September Dot Plots, with median launch expectations for a rate hike moving to 2022. The [..]

US Open Note – US retail sales released with minor impact on dollar; kiwi tumbles

Posted on August 17, 2021 at 1:06 pm GMT

US retail sales miss is mild hit to dollar The recovery in the US dollar after Friday’s sell-off is continuing today, with only a minor market reaction after the retail sales release. Retail sales in the US rose by 1.1% m/m in July versus -0.3% that was the forecast and from an upwardly revised 0.7% in the previous month. The US dollar index is up two days in a row and has nearly retraced half of its previous day’s loss. Dollar/yen is recouping some of the losses of the previous days, trading above 109.00. US [..]

UK inflation and retail sales likely eased in July but pound to stay elevated – Forex News Preview

Posted on August 17, 2021 at 7:50 am GMT

It’s a data-heavy week for the UK, with investors turning to Wednesday’s CPI readings and Friday’s retail sales numbers (all due at 06:00 GMT) after today’s employment report. The key monthly metrics for the British economy are not anticipated to bring anything new to the table as far as the Bank of England policy outlook or the pound are concerned. However, they may determine how well sterling stacks up against its peers in the short term, some of which have [..]

US Open Note – Yen surges due to risk-off factors; oil plunges

Posted on August 16, 2021 at 12:44 pm GMT

Dollar marginally up; Stocks ease The market is beginning the week on a cautious note. The US dollar index is ticking marginally up after a strong negative session, while US futures are suggesting a negative open after the S&P 500 and Dow Jones completed new record highs on Friday. Euro/dollar failed to surpass the 1.1800 psychological level on Friday and is moving lower, while pound/dollar is hovering around 1.3870. Yen shines; commodity currencies fall The yen has risen sharply because of several risk-off factors, all [..]

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