All Articles Tagged - GBPUSD

Sterling awaits UK growth numbers – Forex News Preview

Posted on August 9, 2021 at 2:10 pm GMT

British economic growth data for Q2 will hit the markets at 06:00 GMT Thursday. Forecasts point to a solid report as widespread vaccinations enabled the reopening of the economy. The Bank of England took another step towards normalization last week and if the economy continues to perform, it will probably exit asset purchases this year. Sterling seems attractive. Firing up The British economic engine started revving again in the second quarter as vaccinations went into overdrive, unchaining consumers and businesses. [..]

Daily Market Comment – Dollar eases from post-NFP highs; gold steadies after crash

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

Dollar off highs but elevated after strong NFP puts September taper back on the table Gold plunges below $1,700 before rebounding as yields spike, but oil’s rout deepens Stocks undaunted by prospect of earlier Fed tapering as Wall Street sets new records Taper speculation heats up after bumper US jobs report Markets were left wondering just how much progress is substantial after the US labour market added another 943k jobs in July, while upward revisions to both the May and [..]

Weekly comment – US inflation data could shake things up

Posted on August 6, 2021 at 1:51 pm GMT

It was another volatile week that ended with the USD cruising higher after the Fed Vice Chairman threw his weight behind tapering soon and nonfarm payrolls beat forecasts. The Bank of England took another step towards normalization too. There aren’t many events next week, although US inflation data could spice things up. The highlights: · Inflation stats out of America will be released Wednesday. Forecasts suggest inflation will cool down a little, but still remain above 5%. Combined with a [..]

US Open Note – Dollar bulls cheer on Nonfarm Payrolls; loonie resilient after Canadian jobs miss

Posted on August 6, 2021 at 1:21 pm GMT

Dollar, Treasury yields gear up after bullish NFP release The US dollar was in neutral mode until the eagerly awaited nonfarm payrolls report brought the bulls back into play. Employment growth spiked to 943k and above the forecast of 870k, consequently pressing the unemployment rate to 5.4% – the lowest since the 2020 pickup –versus the 5.7% anticipated. Average hourly earnings were another positive surprise, growing faster by 4.0% y/y compared to 3.9% expected. Dollar/yen bounced immediately to peak slightly [..]

Week Ahead – Dollar turns to US inflation data

Posted on August 6, 2021 at 11:44 am GMT

It will be a quiet summer week, with no central bank meetings and only a handful of economic data. The main event will be the latest edition of US inflation, which could shape the narrative around the Fed and the dollar. Overall, we are entering a period when market liquidity might be very thin, making sharp moves possible without much news. US inflation set to cool Fed officials have started to beat the tapering drums. This past week, another two [..]

Technical Analysis – GBPUSD consolidates around 1.3900; broader outlook bullish

Posted on August 6, 2021 at 10:05 am GMT

GBPUSD is struggling to gain positive momentum, remaining stuck within the range area with an upper boundary at 1.3957 and a lower boundary at 1.3873. The slowdown in the RSI justifies the diminishing buying pressure, while the MACD is also sending some cautious signals as it keeps hovering beneath its trigger line but above the zero level. A close above the 1.3957 barrier could raise buying interest, pushing the price towards the 1.3980 key level, which has been frequently tested at the end of July. Beyond that, [..]

US Open Note – Dollar unflattered by jobless claims; BoE moves closer to monetary tightening

Posted on August 5, 2021 at 1:45 pm GMT

Continuing jobless claims beat estimates but dollar faces constraints Predicting progress in the US labor market could be a tricky job for analysts in the next few months after recent comments from Fed speakers highlighted that a significant recovery in the US labor market is a prerequisite for the Fed to start winding down its government bond purchases. US initial jobless claims for the week ending July 31 came in line with analysts’ expectations, showing a moderate decline to 385k [..]

US Open Note – Dollar jitters rise and commodity currencies flicker green

Posted on August 4, 2021 at 2:22 pm GMT

Dollar kept on back foot after huge ADP jobs miss What does today’s huge miss in the ADP Non-Farm Employment change say about Friday’s July NFP jobs report? Do the weaker numbers of 330K jobs gained in July versus the expectations of 695K and 692K in June dampen the picture of a strong US labour market? Do today’s employment results paint the opposite picture delivered by Fed Chairman Powell’s latest comments that employment is picking up at a good pace, [..]

Technical Analysis – GBPUSD attempts to surpass 40-day SMA; indicators show improvement

Posted on August 4, 2021 at 12:47 pm GMT

GBPUSD is on the rise again, following the latest rejection near the 1.4000 level and the 40-day simple moving average (SMA). The RSI indicator is endorsing the recent upside correction in the price, while the MACD indicator is advancing above its trigger line and attempting to surpass the zero level, showing some improvement in buying interest as well. A definitive close above the nearby resistance level of 1.4000 could increase buying pressure towards the 35-month high of 1.4238. The bulls may next target the 1.4345 barrier, which was printed in January 2018. In the event of [..]

BoE meeting: Neutral, with a touch of optimism – Forex News Preview

Posted on August 3, 2021 at 2:57 pm GMT

The Bank of England will announce its policy decision at 11:00 GMT Thursday. This is one of the big meetings, with updated economic forecasts and a press conference. The UK economy is humming along nicely, but the Delta outbreak and the phasing out of government jobs programs could keep policymakers a little cautious for now. As for sterling, the big picture remains positive. Solid recovery The Bank of England will be pleased with its progress when it meets this week, [..]

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