All Articles Tagged - GBPUSD

US Open Note – Dollar is marginally down; euro shines

Posted on August 13, 2021 at 12:32 pm GMT

Dollar eases before Fed releases minutes next week The dollar is dropping from four-month highs as traders are waiting next week for more clues about the Federal Reserve plans for how and when it will unravel its massive stimulus program. After scaling a high of 93.13 earlier in the week, the dollar index has been lingering around 92.95 since Wednesday, when it was driven down by CPI data. Dollar/yen is creating the third consecutive red day after the climb to 110.80. The euro rebounded against the greenback even after yesterday’s [..]

Week Ahead – RBNZ to raise rates, dollar awaits Fed minutes

Posted on August 13, 2021 at 11:37 am GMT

It’s an electrifying week, with a crucial central bank meeting and a storm of economic releases to spark volatility. The Reserve Bank of New Zealand will make history by raising interest rates. However, there is scope for some disappointment in the kiwi, as markets are pricing in a decent chance for a ‘double’ rate hike. Meanwhile, another round of normalization signals from the Fed could begin to reawaken ‘king dollar’. RBNZ: Time for lift off The main event will be [..]

US Open Note – FX markets swing sideways; Wall Street mildly lower

Posted on August 12, 2021 at 1:45 pm GMT

Currencies in a range as debate for bond tapering continues The FX world was on the sidelines during Thursday’s European session, suffering the summer doldrums in narrow ranges in the absence of any market movers. On Wednesday, US CPI inflation figures came almost as expected, raising hopes that the extraordinary spikes in previous months have likely reached a peak and therefore the Fed’s view of temporary inflation is probably right, making any aggressive monetary tightening actions less likely in the [..]

Daily Market Comment – US inflation may have peaked, dollar rally cools

Posted on August 12, 2021 at 9:10 am GMT

US CPI unchanged in July as Fed hawks get louder Dollar and yields pull back slightly but remain supported by tapering bets US stocks extend record streak as Senate opens path for $3.5 trillion budget plan Inflation fears ease after CPI in line The rate of inflation in the United States remained at a 13-year high in July according to the consumer price index out yesterday. But there was good news for both consumers and policymakers as price pressures for [..]

US Open Note – Dollar pulls back after US CPI data release

Posted on August 11, 2021 at 1:04 pm GMT

US CPI data drives dollar lower All eyes were on the US CPI data release today. The US consumer price inflation rate remained at 5.4% in July, the same as the previous 13-year high and marginally above market predictions of 5.3%, mirroring the low base effect caused by the coronavirus crisis. There were not any surprises for the market; however, the dollar slipped from the five-week high of 110.80 versus the yen that was printed earlier today. The dollar index [..]

Technical Analysis – GBPUSD bears blocked near 1.3829; bias neutral

Posted on August 11, 2021 at 12:33 pm GMT

GBPUSD inched down to 1.3800 earlier in the day, but the 1.3829 floor and the 20-day simple moving average (SMA) are still keeping firm control over bearish forces for the third consecutive day. Although the Stochastics have entered the oversold area, this is not convincing enough to bolster optimism in the market yet, as the RSI and the MACD remain muted around their neutral levels. Failure to rebound at 1.3829, where the 38.2% Fibonacci retracement of the latest upleg is also placed, [..]

Daily Market Comment – US dollar, yields, stocks climb in tandem ahead of inflation test

Posted on August 11, 2021 at 9:08 am GMT

Dollar extends rally, hits more than 4-month high ahead of crucial US CPI data Euro and yen can’t catch a break, riskier currencies slip too Tech stocks take a tumble but Senate’s infrastructure bill nudges Dow and S&P to record Dollar charges ahead; will CPI data fuel or dent rally? The post-NFP boost for the US dollar and Treasury yields showed no sign of abating on Wednesday as investors continued to ramp up their bets that the Federal Reserve will [..]

US Open Note – Dollar leads the way as euro falters; oil soars

Posted on August 10, 2021 at 1:04 pm GMT

Dollar heads up but faces some downside pressure; stocks unchanged The US dollar is broadly heading north today on predictions that the Federal Reserve will eventually reduce its stimulus program, but it has come under pressure versus some majors. Strong job numbers on Friday showed that the economy is still recovering. With markets nearing all-time highs because of the Fed’s exceptional stimulus measures, Bostic believes that another solid month or two of job growth should trigger the central bank to begin tapering its asset purchases, and that the Fed should proceed [..]

Daily Market Comment – Fed taper talk approaching fever pitch, dollar edges up again

Posted on August 10, 2021 at 9:06 am GMT

Fed officials heighten taper speculation, flag a decision is nearing; dollar stands tall Optimism keeps stocks afloat even as yields rise, Delta concerns linger Commodities on steadier footing but Fed tapering, demand uncertainty still weigh Fed leaves little doubt tapering is coming soon The first response by Fed policymakers to last week’s stellar jobs report left investors in no doubt that the US central bank is closing in on its criteria of achieving “substantial further progress” towards its goals. The [..]

Technical Analysis – GBPUSD slips to test 20-SMA; short-term bias neutral

Posted on August 10, 2021 at 7:08 am GMT

GBPUSD abandoned the intense but fruitless battle within the 1.3900 – 1.3952 resistance area to seek support near the 1.3829 level, where the 20-day simple moving average (SMA) and the 23.6% Fibonacci retracement of the 1.4248 – 1.3570 down leg overlap. Despite the pullback, the pair has not confirmed a bearish bias in the daily chart yet according to the RSI and the MACD, which continue to fluctuate around their neutral levels. Meanwhile, the Stochastics have dropped below the 20 [..]

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