All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD falls after rebound off 4½-month low

Posted on July 23, 2021 at 8:10 am GMT

GBPUSD is retreating after a significant positive correction from the four-and-a-half-month low of 1.3570. The MACD is widening its structure above its zero line, while the 20- and 40-period simple moving averages (SMAs) are continuously going higher. However, the RSI is flattening over 50, indicating a possible pullback. If the price continues to fall, immediate support could come from the 40-period SMA, which is presently at 1.3737, before falling to the 20-period SMA, which is at 1.3690. If the market price falls below [..]

US Open Note – ECB delivers new guidance but no surprises; stocks stay on recovery mode

Posted on July 22, 2021 at 1:09 pm GMT

Risk-aversion fades Concerns over the Covid delta variant and its potential drag on global growth took a back seat on Thursday, letting risk-sensitive currencies such as the Aussie and the kiwi pare some of Monday’s damage and become the best performers of the day. Even cryptocurrencies managed to gain positive traction within this spectrum, though whether they could set up any turnaround without Elon Musk expressing his overall support for digital currencies, was still a question. Earnings optimism overshadows pandemic [..]

Daily Market Comment – ECB to commit to negative rates

Posted on July 22, 2021 at 8:43 am GMT

ECB meets, likely to lock itself into cheap money for longer Wall Street approaches record highs again as Delta scare fades Dollar pulls back, commodity FX recovers, gold can’t catch a break ECB to strengthen forward guidance The main event today will be the European Central Bank meeting, which should be interesting after President Lagarde promised to deliver new policy signals. The central bank recently raised its inflation target and it wants to demonstrate that it is serious about hitting [..]

Could UK retail sales & flash PMI figures stop the pound bears? – Forex News Preview

Posted on July 21, 2021 at 2:51 pm GMT

Boris Johnson lifted the final coronavirus curbs on Monday after a four-week delay, but the rising Covid infections made investors see the glass half empty, pressing the pound to a five-month low. UK retail sales for June and July’s flash Markit/CIPS PMI figures could challenge the sell-off on Friday at 06:00 GMT and 08:30 GMT respectively as the case of monetary tightening seems to be gaining traction again in the UK. Covid conditions weigh on pound The fast spread of the delta [..]

US Open Note – Markets recoup and dollar stays upbeat

Posted on July 21, 2021 at 1:44 pm GMT

Markets retain buoyancy as forex arena looks to ECB decision The domino effect from the latest delta variant shock around infection spikes seems to have been short lived as US major indices today continued to recoup recently surrendered ground. Concerns after the initial jolt to markets around the virus rhetoric seem to have subsided somewhat. The US dollar index seems cemented around its recent highs and the pickup in the 10-year yield to 1.24% may be aiding the reserve currency [..]

Virus is surging and yields are tumbling; is inflation already yesterday’s news? – Special Report

Posted on July 21, 2021 at 9:42 am GMT

The last time there was so much panic in the markets about higher inflation was probably in the 1970s when oil price shocks were a common phenomenon. Although there’s not as much chance of inflation hitting the double digits this time round, major central banks are for the first time in decades facing the prospect of missing their upper price targets by a substantial margin. However, all the excitement may yet prove to have been about nothing as the global [..]

US Open Note – Stocks gain some footing; coronavirus dejavu-jitters linger

Posted on July 20, 2021 at 2:02 pm GMT

Stocks adjust to delta trauma while dollar holds firm Markets seem to be gradually regaining consciousness from yesterday’s risk-off blow even as yields are on the back foot. That said, the US recovery is clearly ahead of other lagging economies and may start to make headways again as uncertainty and delta variant related concerns start to establish themselves elsewhere. The dollar index is flirting with the 93.00 mark and is holding up fairly well in the forex arena despite the [..]

Technical Analysis – GBPUSD dives beyond 200-MA and key troughs

Posted on July 20, 2021 at 8:44 am GMT

GBPUSD has slipped underneath the 200-day simple moving average (SMA) at 1.3707 and the March and April troughs at 1.3669, strengthening a bearish notion as it surrenders extra ground. The dipping 50- and 100-day SMAs are giving the impression that bearish forces are seizing command. The Ichimoku lines are indicating that downside risks are persisting, while the short-term oscillators are suggesting the pair may remain heavy for a little while longer. The MACD below zero has nudged back beneath its [..]

US Open Note – Pandemic anxiety spurs risk aversion; Wall street futures in the red

Posted on July 19, 2021 at 1:02 pm GMT

Pandemic uncertainty resurfaces The cocktail of a contagious Covid delta variant and the stabilization in vaccinations revived memories of lockdown restrictions and amplified inflation fears at a time when investors were confident that the summer months could boost economic growth, especially in the hardest-hit tourism sector. The major concern is how the pandemic will evolve when the flu activity resurfaces in the last quarter of the year and whether governments will reimpose strict curbs or let herd immunity do its [..]

US Open Note – Dollar rises further after retail sales; kiwi is notably up

Posted on July 16, 2021 at 1:02 pm GMT

Dollar continues to gain momentum as retail sales rise The US dollar is attempting to move higher against a basket of major currencies with US stock futures recovering some of yesterday’s losses. Dollar/yen is advancing above the 110.00 round number, surpassing the 40-day simple moving average (SMA) as retail sales for June gained 0.6% from the previous month, following a revised 1.7% drop in May and significantly outperforming market estimates of a 0.4% drop. Also, the Bank of Japan did not make any policy [..]

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