All Articles Tagged - GBPUSD

Daily Market Comment – Stocks struggle as Delta variant wreaks havoc, dollar and yen edge up

Posted on June 29, 2021 at 9:03 am GMT

Wall Street notches up another record but Asia falters amid worrying spread of Delta variant Dampened mood and US Covid resilience lift dollar, yen up too Euro stutters as ECB divisions laid bare; pound slips as investors unimpressed by UK’s ‘Freedom Day’ Mixed start for equities as Delta outbreak hits nerves Asian stocks came under pressure for a second day on Tuesday as the rapid spread of the Delta variant of Covid-19 hit growth expectations for the region. Low vaccination [..]

US Open Note – Markets are calm ahead of data exposure later this week

Posted on June 28, 2021 at 12:41 pm GMT

Dollar flirts with 111 yen; euro retreats near $1.19 as greenback gains ground It’s been a quiet start to the week as the greenback is trying to improve its long-term structure with all the attention turning on the NFP report on Friday. The dollar is heading north just below 111.00 versus the Japanese yen, while the dollar index is finding a restrictive support at the 20-day simple moving average (SMA) near 91.50. The euro is holding near $1.19 for the fourth day in a row but [..]

Daily Market Comment – Quiet start to a busy week for global markets

Posted on June 28, 2021 at 8:56 am GMT

Most currency pairs confined to tight ranges, stocks set for new records Sterling opens a touch higher as Britain gets a new health minister Big week ahead, featuring an OPEC meeting and a US employment report Wall Street set for more gains but currencies quiet Global markets are quiet on Monday, with news flow being rather light and movements subdued across most asset classes, as traders keep some powder dry ahead of crucial events later in the week. Dollar pairs [..]

US Open Note – Dollar tumbles after PCE data

Posted on June 25, 2021 at 1:07 pm GMT

Dollar moves south as US futures hold steady Markets drove the dollar even lower after the release of the PCE price index on Friday. During the last couple of days, the dollar index has remained steady just below 92.00. The greenback is falling after the jump above the 111.00 psychological level versus the Japanese yen. US futures are currently trading in green on Friday. The core PCE, the Fed’s preferred inflation indicator rose by 3.4% y/y, up from 3.1% in the previous month and was in line with expectations. It is the highest reading [..]

Technical Analysis – GBPUSD redirects lower as bearish forces take command

Posted on June 25, 2021 at 12:32 pm GMT

GBPUSD is steering back down after the capping 50-period simple moving average (SMA) dismissed the idea of additional gains past the 1.4000 handle. The diving 50- and 100-period SMAs are endorsing the bearish picture, while the topping 200-period SMA, is validating growing negative price action. The lines of the Bollinger bands are static, signalling the squeeze in price before directional volatility picks up. Furthermore, the short-term oscillators are exhibiting a slight tilt to the downside. The MACD has just dipped [..]

Daily Market Comment – Wall Street parties after ‘skinny’ infrastructure deal

Posted on June 25, 2021 at 8:39 am GMT

Stock markets hit new all-time highs after bipartisan infrastructure bill Dollar quiet, looks to more Fed speakers and US inflation data today Sterling retreats after BoE steers clear of any tightening signals Infrastructure deal propels equities higher A sense of euphoria swept through equity markets on Thursday, after the US president announced that he has secured a deal on infrastructure spending with a group of Republican and Democratic senators. The price tag will be around $1 trillion over five years, [..]

US Open Note – Stocks log slight gains while greenback is unreactive

Posted on June 24, 2021 at 1:52 pm GMT

Stocks glow temporarily and dollar digests US GDP and jobless claims While stocks marginally pick up and the Nasdaq 100 index claims a new all-time high, the threat of rising inflation, associated with supply bottlenecks, continues to be somewhat downplayed. Furthermore, Fed-taper talks are said to be on the horizon, but a far ways down the road, with Fed Chair Powell highlighting that they will not act hastily towards higher interest rates. Today, the 10-year Treasury yield rose slightly to [..]

Daily Market Comment – Bank of England meeting in the spotlight

Posted on June 24, 2021 at 8:24 am GMT

BoE unlikely to shake markets today, minor upside risks for sterling Dollar back in the ring as Fed lets the hawks out Stocks elevated, another heavy dose of Fed-speak coming up BoE set to maintain optimistic tone All eyes will be on the Bank of England today. This is one of the smaller meetings without a press conference or updated economic forecasts, so any seismic policy signals are unlikely. Still, there is a risk that the BoE upgrades its language [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

Bank of England may not join the tightening club yet – Forex News Preview

Posted on June 22, 2021 at 3:58 pm GMT

Expectations for a rate hike surged in the UK following the Fed’s surprising hawkish turn. Nevertheless, the Bank of England (BoE) will probably signal that some patience is still required when it announces its policy decision on Thursday at 11:00 GMT, likely leaving the pound unable to recoup its recent losses against the dollar. Rate expectations heat up Back in February, the Bank of England had warned banks to prepare their systems for negative interest rates, which could open the path for [..]

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