All Articles Tagged - GBPUSD

Daily Market Comment – Risk appetite runs into trouble again as virus cases trend higher

Posted on July 12, 2021 at 9:24 am GMT

Worries that Delta variant is fuelling a new global surge in infections sap sentiment Dollar halts decline, edges up, while stocks back under pressure Bonds to stay in focus as Treasury auctions, CB meetings, Powell testimony coming up Subdued start to week as virus woes return Risk assets were struggling on Monday as signs that virus infections have started to creep higher globally put a dent in the improvement in sentiment that took hold from the middle of last week. [..]

US Open Note – Markets cool down after a messy week despite China’s RRR cut

Posted on July 9, 2021 at 1:26 pm GMT

Stocks get on their feet ahead of earnings Markets took a breather at the end of a turbulent week, which suddenly derailed hopes of a swift economic recovery and promoted self-realization that the vaccination program alone may not be enough to re-establish the pre-Covid normality. The pan-European STOXX 600 is currently up by around 1.0%, having recouped a large share of yesterday’s losses, with consumer cyclicals, basic materials, and real estate enjoying the biggest gains. The index, however, is still [..]

Week Ahead – RBNZ and BoC to stay on taper path but Delta strain may cause angst for BoJ

Posted on July 9, 2021 at 10:53 am GMT

It will be a busy week as the Bank of Canada, Bank of Japan and the Reserve Bank of New Zealand all meet, while inflation will take centre stage on the data front. With increasing concerns that the new Delta Covid variant could scupper reopening plans around the world, Japanese policymakers are the most likely to strike a more cautious tone, but the BoC and RBNZ will probably maintain their optimism for now. After the Federal Reserve signalled that a [..]

Technical Analysis – GBPUSD downside risks remain but negative pace has calmed

Posted on July 8, 2021 at 3:53 pm GMT

GBPUSD negative forces have somewhat softened ahead of the two-and-a-half month low of 1.3730 and weak buying interest is not really aiding any headways in the price. The falling simple moving averages (SMAs) are shielding improvements in price, while the Ichimoku lines are reflecting that negative momentum is sustaining a minor lead. The short-term oscillators are suggesting price may test the 1.3715-1.3730 support zone. The MACD is below its red trigger line in the negative zone, while the RSI is [..]

US Open Note – Stocks remain upbeat and dollar stabilizes

Posted on July 7, 2021 at 1:52 pm GMT

Softened market mood prepares for US job openings and Fed minutes The Nasdaq 100 remains comfortably at its highs, while the S&P 500 and the Dow Jones Industrial Index have largely recouped the minor setback related to yesterday’s ISM PMI data. Markets have calmed and the dollar index is consolidating around 92.50, following its latest gains. The minor cooling of the US economy along with 10-year yields dropping to 1.30% have barely hurt the dollar. That said, four straight months [..]

Can the Delta variant wreck hopes of an end to lockdowns? – Special Report

Posted on July 6, 2021 at 2:32 pm GMT

The highly contagious Delta variant of Covid-19 has fast become the dominant strain around the world, spreading beyond Asia. Countries with low vaccination rates like Australia have had no choice but to reimpose draconian lockdowns, but in other places such as America and Britain where most adults have had at least one vaccine dose, there are no plans yet to pause the full reopening of their economies. Is it sensible to assume so early on that vaccines have broken the [..]

US Open Note – Stocks tread water around highs and dollar ticks up

Posted on July 6, 2021 at 2:31 pm GMT

Markets process June ISM services PMI Markets seem somewhat muted around their highs after Friday’s mixed payrolls report but the greenback’s demeanour has strengthened slightly. Although global recoveries are on the right path, markets continue to try and clearly decipher the plans or approaching plans of central banks gradually ending accommodative policy. The dollar index has improved to 92.40, while the euro and sterling faded from their intraday highs but held above the $1.1800 and $1.3800 borders. Spikes in infections [..]

Technical Analysis – GBPUSD breaks nearby resistance, but a stronger rally needed

Posted on July 6, 2021 at 7:24 am GMT

GBPUSD is gaining momentum within the 1.3800 area and above the red Tenkan-sen line, which kept the bulls under control over the past few weeks, marking its third consecutive green day. The technical indicators endorse the ramping positive traction in the price. The RSI has bottomed in the oversold area and is set to print a new higher high, while the Stochastics is also making its way above its 20 oversold level. Adding to the encouraging signals is the MACD, [..]

US Open Note – Dollar in doldrums; RBA & OPEC+ decision awaited

Posted on July 5, 2021 at 1:26 pm GMT

US dollar under pressure ahead of FOMC meeting minutes Stock and FX markets resumed in quiet mode on Monday as the US was enjoying a long weekend for the 4th of July Independence Day. Perhaps the mixed results in the comprehensive Nonfarm payrolls report, which displayed a robust growth in new job positions but a soft increase in the unemployment rate on Friday, also provoked a tepid trading ahead of the FOMC meeting minutes due on Wednesday. Particularly investors are [..]

US Open Note – Dollar slips as NFP report is mixed

Posted on July 2, 2021 at 1:04 pm GMT

Dollar dives after NFP report; unemployment rate advances to 5.9% The US payrolls figure has stolen the attention of traders today as has taken the markets by surprise. The dollar lost some ground after the publication of the non-farm payrolls report, falling near 111.30 against the yen after a strong bullish start towards 111.70 earlier in the day. The US dollar index is moving lower after it topped at 92.74 during the release, while S&P 500, Nasdaq 100 futures and Dow Jones are recording new [..]

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