All Articles Tagged - GBPUSD

US Open Note – Dollar fizzles despite tapering hints; European stocks at fresh record highs

Posted on August 3, 2021 at 1:08 pm GMT

Delta fears The rest of the day will be quiet in terms of data releases but there are enough things happening globally to keep investors busy in the next sessions. The delta outbreak has stretched to China, which has been out of the Covid headlines for a while, forcing authorities to halt flights and other public transports towards Beijing. With the second biggest economy of the world teaming up with other Asian economies to fight against the troubling new Covid [..]

Technical Analysis – GBPUSD advances above 1.39; neutral outlook

Posted on August 3, 2021 at 8:46 am GMT

GBPUSD is heading up again after the pullback off the 1.4000 restrictive level and the 40-day simple moving average (SMA) last week. The RSI indicator is mirroring the latest upside correction in the price, while the MACD is also reflecting some improvement in buying interest, advancing above its trigger line and trying to surpass the zero level. A decisive close above the nearby resistance of 1.4000 could boost buying pressure towards the 35-month peak of 1.4238. Stretching further up, the bulls may next haunt the 1.4345 barrier, taken from [..]

US Open Note – Stocks return to Asia opening levels and dollar a tad lower

Posted on August 2, 2021 at 1:39 pm GMT

Market sentiment on back foot ahead of US ISM Manufacturing PMI US major indices have given up their Asian price improvements, as sentiment deteriorates on US infrastructure talks and in advance of the US ISM Manufacturing PMI, scheduled for 14:00 GMT today. Friday’s US mixed data may have also played a part, which reflected that consumer sentiment in July declined further from the levels in June with inflation expectations also slowing. Employment pay for Q2 was lower and the Core [..]

US Open Note – Stock indices to claim monthly gains despite jitters; dollar on the backfoot

Posted on July 30, 2021 at 1:18 pm GMT

Stock indices head for a monthly gain The month of July started with the impression that plans of monetary tightening could get more into fashion, adding a solid footing under currencies, while the earnings season could further brighten the outlook for stocks despite the inflaming virus numbers. Although the above backdrop has not entirely faded yet, the last week of the month found investors having second thoughts about how soon the Fed would wrap up its bond tapering plans as [..]

Weekly Comment – USD loses altitude; can NFP report rekindle summer rally?

Posted on July 30, 2021 at 12:59 pm GMT

USD finally caught up with tumbling real yields in the past week, with the Fed’s stubbornly dovish inclination intensifying the selloff mid-week. However, USD bulls shouldn’t lose hope as the June jobs report is coming up next week, along with more central bank meetings. The highlights: Nonfarm payrolls are due on Friday in the US and could jump by 900k in July. But how much of a boost would this be for the battered USD when the Fed is nowhere [..]

Week Ahead – Nonfarm payrolls highlight a huge week

Posted on July 30, 2021 at 11:37 am GMT

Global markets will go into overdrive next week, with two central bank meetings and a landslide of data coming up. The RBA will probably reverse its tapering plans amid extended lockdowns in Australia, whereas the Bank of England might strike a slightly more optimistic tone. Of course, the main event will be the US jobs report, which will determine how quickly the Fed dials back stimulus. Dollar braces for payrolls Fears that the Federal Reserve might announce a slowdown of [..]

Daily Market Comment – Stocks falter again, bruised dollar seeks to end losing streak

Posted on July 30, 2021 at 9:07 am GMT

Market mood sours again as China crackdowns, mixed earnings and Delta fears all weigh Dollar halts slide but struggles to regain positive footing after dovish Fed and soft data Pound sets sights on $1.40 as others lag, gold battles to reclaim $1,830/oz Mixed week for stocks as risks mount Regulatory crackdowns in China, ongoing concerns about the Delta variant and warnings of slower earnings growth ahead all came to a head this week when it was meant to be all [..]

Technical Analysis – GBPUSD keeps bullish tone and aims for 1.40

Posted on July 30, 2021 at 8:35 am GMT

GBPUSD found some footing at the red Tenkan-sen line at 1.3935 after a minor pullback from the 1.3981 level. The pair has been climbing for more than a week now and its positive bearing is being confirmed by the upturn in the 50- and 100-period simple moving averages (SMAs). The Ichimoku lines are indicating that positive drive is still alive and an achieved bullish crossover of the 100-period SMA at 1.3803 by the 50-period SMA could further boost the ascent. [..]

US Open Note – FOMC’s tone knocks the dollar

Posted on July 29, 2021 at 1:57 pm GMT

Markets barely react to US GDP miss as Chairman Powell still on their mind; Eurozone inflation comes in strong The major US indices managed to remain resilient after yesterday’s FOMC comments from Chairman Powell, who signalled that patience is needed as there is still a ways to go before tighter policy. Markets have hardly reacted to the release of US GDP and jobless claims in relation to the expansion of the US economy in the Q2. The US economy grew by 6.5% in the [..]

Technical Analysis – GBPUSD increases odds for bullish move; next target 1.4000

Posted on July 29, 2021 at 12:35 pm GMT

GBPUSD is creating an aggressive bullish rally after it found a rebound off the 23.6% Fibonacci retracement level of the upward wave from 1.1405 to 1.4238 at 1.3577. The price successfully surpassed the simple moving averages (SMAs) and is heading towards the 1.4000 psychological number. Regarding to the technical indicators, the MACD is surpassing above its trigger line and is approaching the zero level, while the RSI is hovering in the positive territory, both suggesting more gains in the near [..]

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