All Articles Tagged - GBPUSD

Weekly Comment – Resurgent USD looks to FOMC minutes for further boost

Posted on July 2, 2021 at 12:46 pm GMT

It’s been an exceptional week for USD, which has strongly come back in favour with investors following the Fed’s slightly hawkish tilt. However, fresh virus fears amid a rampant Delta variant in Asia have also boosted USD. Next week, it’s all about the FOMC minutes as the Fed will likely hint at the start of taper discussions. Highlights ahead: But first, all eyes will be on the RBA, which meets on Tuesday. A lot is at stake for AUD as [..]

Week Ahead – RBA meeting and Fed minutes to spice things up

Posted on July 2, 2021 at 11:36 am GMT

It’s a relatively quiet summer week for global markets. The only central bank meeting will be in Australia, where the Reserve Bank could take the first step towards exiting cheap money. In America, the minutes of the latest FOMC meeting will shed some light on when the Fed might take its own foot off the accelerator. Overall, the theme of monetary policy divergence will likely dominate the FX arena moving forward. Exit strategy The dollar has returned to life these [..]

Daily Market Comment – Dollar on the offensive ahead of NFP; OPEC+ decision postponed

Posted on July 2, 2021 at 8:59 am GMT

Dollar scales fresh highs as NFP forecasts edge up, hits 15-month peak versus yen Another mixed day for stocks as Asian growth worries persist but S&P 500 extends record streak Oil slips from highs as OPEC+ meeting delayed amid disagreements Dollar strength prevails on Jobs Friday The US dollar maintained its northward bound on Friday as investors awaited the hotly anticipated jobs report out of the United States for possible clues about Fed tapering. There have been subtle hints from [..]

Technical Analysis – GBPUSD’s sell-off may continue below 2½-month low

Posted on July 2, 2021 at 7:10 am GMT

GBPUSD has been in a descending mode over the last week, reaching a new two-and-a-half-month low of 1.3750 on Thursday. The 20- and 40-period simple moving averages (SMAs) are following the recent price action as well as the Ichimoku lines. The RSI is sloping marginally down beneath the neutral threshold of 50, while the MACD is strengthening its bearish move below its trigger and zero lines in the 4-hour chart. Despite the latest bullish session, if the pair declines underneath [..]

US Open Note – Stocks near highs; dollar’s radar locked on payrolls

Posted on July 1, 2021 at 1:56 pm GMT

Markets tense prior to US Manufacturing PMI and ahead of NFP payrolls Yesterday’s stronger ADP employment numbers floated the dollar index up, reaching an intra-day high of 92.50 and now investors’ focus is locked on Friday’s NFP payrolls report, to underpin the greenback. Currently, the 10-year yields are at 1.43%, not aiding the dollar much. It remains to be seen if the US ISM Manufacturing PMI will also beat forecasts of 61.0 for June, which could help the dollar counter [..]

Daily Market Comment – Dollar extends gains as virus blues strike again

Posted on July 1, 2021 at 8:53 am GMT

Dollar climbs to 3-month high as worries about Delta variant weigh on markets But equities mixed as US jobs report awaited for more direction Major FX pairs steady, oil firms ahead of OPEC+ output decision Dollar ascends as virus jitters return Fresh concerns that the Delta Covid-19 strain will undermine the recovery in Asia and possibly elsewhere too hurt sentiment on Thursday, though positioning ahead of tomorrow’s US jobs data also made for some cautious trading. The US dollar advanced [..]

US Open Note – Dollar continues to move north after ADP release

Posted on June 30, 2021 at 1:03 pm GMT

The dollar held on to recent gains as virus concerns arose in a market already on edge before the NFP report on Friday that is considered as critical to the Federal Reserve’s monetary policy outlook. Any clues about labor market strength might put more worries on the Fed to move faster on interest rate hikes, potentially lifting the dollar, while data that falls short of expectations could put the currency at risk. In June, private businesses in the US recruited 692,000 workers, down from 978 [..]

Daily Market Comment – Dollar cools as Delta fears ease; Wall Street sets another record

Posted on June 30, 2021 at 9:15 am GMT

Fears over Delta variant subside slightly but soft data limit gains in Asian equities US shares hit fresh records but improved mood knocks dollar off highs Gold slips again, while oil’s rebound also falters ahead OPEC+ meeting Markets steadier as alarm over Delta variant eases Stocks in Asia were mostly in the green on Wednesday as concerns about the impact of tighter restrictions across the region to combat the highly contagious Delta variant abated slightly while another record close on [..]

US Open Note – Stocks near highs and dollar flickers green on hawkish Fed rhetoric

Posted on June 29, 2021 at 1:52 pm GMT

Markets prepare to digest Lagarde’s speech and US consumer confidence data After Friday’s weaker than expected PCE inflation, and expected tapering talk over the summer, not to mention yesterday’s confident tone from Fed officials around their inflation goal, the main focus will turn to Friday’s payrolls report for clues in the labour sector. 10-year yields are at 1.48% and the dollar index is prodding above the 92.00 mark as the greenback’s reach is being felt across the forex arena, subduing [..]

Technical Analysis – GBPUSD advances muted by 100-SMA and Ichimoku cloud

Posted on June 29, 2021 at 9:04 am GMT

GBPUSD is edging lower underneath its red Tenkan-sen line around 1.3895 after its latest bounce around the 1.3800 handle was curbed by the 100-day simple moving average (SMA) and the cloud’s lower surface. The SMAs are maintaining a bullish bearing, signalling that negative forces have yet to take full command. That said, the Ichimoku lines are indicating that negative momentum is a slight step ahead, while the short-term oscillators are conveying a subtle tilt to the downside. The MACD, not [..]

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