All Articles Tagged - GBPUSD

Daily Market Comment – Powell eases taper angst, dollar slips; China stocks stage rebound

Posted on July 29, 2021 at 9:30 am GMT

Fed cites “progress” but still a ways to go; September taper decision seen less likely Dollar hits 4-week low as easing China panic further adds to downside Asian equities bounce back but Facebook earnings warning could upset Wall Street Powell upbeat but in no rush to curtail QE The Federal Reserve acknowledged it had made “progress” towards its goals as it kept policy unchanged on Wednesday. However, in his press conference, Chair Jerome Powell appeared in no rush to scale [..]

US Open Note – Stocks muted near highs, dollar firms

Posted on July 28, 2021 at 1:16 pm GMT

Markets prepare for FOMC release Yesterday’s consumer confidence for July ticked only marginally higher from June confirming optimism in the US, however, the dollar index weakened slightly, before stabilizing around the 92.50 level ahead of the Federal Open Market Committee meeting. Expectations are that Federal Reserve Chairman Jerome Powell will once again be watchful of his rhetoric towards tapering of asset purchases and the timeline and commencement of such actions. Markets will also be ready to digest any clues from [..]

Daily Market Comment – China selloff steadies but Wall Street wobbles; dollar eyes Fed

Posted on July 28, 2021 at 8:29 am GMT

China jitters spread to global equities but rebound may already be underway US shares slip despite stellar earnings amid China and peak growth concerns Will the Fed heighten or soothe market nerves? Dollar inches higher ahead of Fed decision despite subdued yields Somewhat calmer day for equities after Asian tumult Stocks in China were attempting to break their losing streak on Wednesday following three days of carnage triggered by regulatory tightening that targeted domestic tech giants and for-profit education firms. [..]

US Open Note – Stocks drift at record highs and dollar loses some resilience

Posted on July 27, 2021 at 1:35 pm GMT

Markets freeze as Fed meeting underway; US Consumer Confidence ahead It seems continued selling in Chinese tech giants has somewhat hampered risk appetite, which has been further muted as investors hold a cautious stance awaiting the conclusion of the Federal Reserve’s policy meeting tomorrow. The Fed is faced with a slightly more difficult task in this meeting as it will have to expand on the delta variant’s impact over bond yields as opposed to the outlook on rising prices, not [..]

Daily Market Comment – Turmoil in China but broader market mood steady

Posted on July 27, 2021 at 9:10 am GMT

Freefall in Chinese stocks enters third day but rest of Asia takes cues from Wall Street US shares get another earnings lift, hit new records, big day ahead for tech giants But it’s all quiet outside of equities as Fed decision awaited Pound outperforms, flirts with $1.38, as dollar drifts ahead of Fed outcome China shares crash again amid crackdowns Stocks in China and Hong Kong plummeted for a third day on Tuesday as technology, real estate and for-profit education [..]

Technical Analysis – GBPUSD waits for a channel breakout

Posted on July 27, 2021 at 7:27 am GMT

GBPUSD extended its recovery from a 5 ½-month low of 1.3570 marginally above the 1.3800 level and the 20-day simple moving average (SMA) on Monday but another obstacle has emerged. The price is currently battling the surface of a descending channel and the 38.2% Fibonacci retracement of the latest downfall at 1.3829. Should efforts prove fruitful, the door would open for the 50% Fibonacci of 1.3900, while within breathing distance, the 50-day SMA at 1.3952 may cancel any corrections towards the 61.8% Fibonacci [..]

US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]

Daily Market Comment – US equities shine ahead of Fed but caution prevails elsewhere

Posted on July 26, 2021 at 8:57 am GMT

Wall Street rallies on strong earnings even as US Covid hospitalizations surge Caution is the order of the day elsewhere as Delta and growth fears linger Dollar starts Fed week on steady note but yen and gold inch higher, yields slip again US stocks ride high; can anything spoil the fun? Wall Street ended Friday in a euphoric mood as Q2 earnings continued to beat expectations, but trading has gotten off to a much more cautious start on Monday, with [..]

US Open Note – Stocks to close the week unharmed as the focus turns to the Fed

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

Stocks flirt with record highs Despite a choppy week, which spurred pandemic fears before putting them back to rest again, global stocks bound up their wounds as investors cheered on robust corporate profits and assessed that fiscal and monetary policy could still protect economies from covid breakouts. Industrials, basic materials, and consumer cyclicals drove gains in the pan-European STOXX 600 today, pushing the index closer to its recent record highs, while upbeat earnings in telecommunications and autos underpinned sectoral advances. Wall [..]

Week Ahead – Fed to talk taper but stall on action; growth data in focus amid recovery doubts

Posted on July 23, 2021 at 11:16 am GMT

The Federal Reserve is expected to provide more hints on tapering when it meets next week but may stop short of revealing a timeline. Amidst jitters about the Delta variant, markets could whipsaw if the Fed cites both progress and dangers ahead. Meanwhile, US and Eurozone GDP readings could further muddle the market mood as they will likely confirm the solid rebound in Q2 even as uncertainty about the outlook is increasing. If all that wasn’t enough for investors to [..]

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