All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD aims for rebound but bearish risks linger

Posted on June 15, 2021 at 7:08 am GMT

GBPUSD remains resilient within a sideways channel and around the 1.4100 level, where the 23.6% Fibonacci of the latest upleg also resides (1.3668 – 1.4248). The recent soft dwindle below the 20-day simple moving average (SMA) and the blue Kijun-sen line favors a negative extension towards the important long-term ascending trendline and the 50-day SMA, both converging to the 38.2% Fibonacci of 1.4026. Slightly beneath, the 50% Fibonacci of 1.3958 may attempt to catch the fall ahead of the 61.8% [..]

UK data flurry unlikely to be of much boost to stumbling pound – Forex News Preview

Posted on June 14, 2021 at 3:34 pm GMT

There’s a slew of data coming out of the UK this week, starting with jobs numbers on Tuesday, inflation on Wednesday and retail sales on Friday, all due at 06:00 GMT. However, although the latest readings on those key monthly metrics are expected to underscore the view of a recovery that is gaining momentum, the pound will probably not be easily fazed by the data. Renewed UK tensions with the EU and a spike in Covid infections have dampened somewhat [..]

US Open Note – Stocks, oil on the rise; FX markets on the sidelines

Posted on June 14, 2021 at 1:38 pm GMT

Stock indices hit fresh record highs There was no clear winner in the FX space during the European session on Monday as the calendar was empty of market moving events, but the surge in oil and other commodity prices provided a small advantage to risk-sensitive currencies such as the New Zealand and Australian dollars. Rising energy and utility prices underpinned global stocks as well, with the pan-European STOXX 600 and the US S&P 500 futures inching to fresh record highs [..]

Daily Market Comment – Dollar advances as traders brace for Fed decision

Posted on June 14, 2021 at 8:47 am GMT

· Dollar climbs as shorts hedge ahead of Fed meeting on Wednesday · Inflation fears subside overall – Biden infrastructure bill downsized? · Stocks hover near record highs, oil traders bet against Iran talks Investors shake off inflation blues Global markets seem to have concluded that this inflation episode will indeed fade soon. Despite US inflation printing 5% in annual terms last week, Treasury yields actually traded lower and various inflation expectation measures remain under pressure. The verdict is that [..]

US Open Note – Stocks brush with highs, dollar flickers green and yields dip

Posted on June 11, 2021 at 1:51 pm GMT

Stocks and dollar climb a tad but market appetite appears muted Major US indices are holding near their highs with the S&P 500 index nudging up towards yesterday’s intra-day record high as the vibe in markets remains subdued, looking unresponsive to inflation and saturated talk around early tapering. Echoes from yesterday’s ECB meeting and the stronger US inflation results for May (Core CPI at 0.7% m/m and 3.8% y/y) seem to have fallen on deaf ears as a relatively [..]

Week Ahead – Fed to steer away from taper signals

Posted on June 11, 2021 at 10:33 am GMT

It’s a busy summer week, with three central bank meetings and a ton of crucial data. The spotlight will be on the Fed, which is unlikely to signal that it’s considering an exit strategy from cheap money. That’s the ultimate path, but it’s too early. Any real dollar strength is a story for late summer. Meanwhile, policy meetings in Japan and Switzerland could confirm that those economies will be the last to raise rates again, leaving the yen and franc [..]

Daily Market Comment – Stocks at record, dollar unfazed after US CPI hits 5%

Posted on June 11, 2021 at 9:22 am GMT

US inflation surges again, but markets more convinced than ever that it’s transitory ECB maintains dovish course, yet euro oscillates sideways S&P 500 notches another record close as Wall Street set for weekly gains Another big CPI beat, but no fuss this time Consumer prices in the United States soared by 5.0% in May, beating forecasts of 4.7%, as the lockdown base effect and a number of one-off factors pushed annual inflation to the highest since 2008. Large hikes in [..]

Technical Analysis – GBPUSD advances above Ichimoku cloud; neutral in short-term

Posted on June 11, 2021 at 7:05 am GMT

GBPUSD is climbing above the Ichimoku cloud and the flat 20- and 40-period simple moving averages (SMAs), finding crucial support at the 200-period SMA in the 4-hour chart. The MACD oscillator is ticking lower in the positive region, while the MACD is strengthening its bullish move above its trigger and zero lines. However, the recent outlook in the short-term is neutral as the market fails to create a clear direction. More advances could find resistance at the 1.4205 barrier, ahead [..]

Virus spike, UK-EU sausage war threaten the pound’s bull run – Special Report

Posted on June 10, 2021 at 2:58 pm GMT

Post-Brexit trade frictions between Britain and the European Union never completely went away but seem to have flared up again lately. Unsurprisingly, the dispute is around the complicated Northern Ireland protocol, meaning the matter could drag on for months and potentially not be resolved without escalating into something much bigger first. If the spat leads to a tit-for-tat tariff war, it could hurt Britain’s economic recovery from the pandemic. But that’s not the only thing the pound needs to worry [..]

US Open Note – US CPI surprise driving dollar higher; Lagarde comments hurt euro

Posted on June 10, 2021 at 1:10 pm GMT

US CPI spike higher than expected Consumer prices in the United States were closely watched today for any clues about a tapering timeline. The headline CPI rose by 5% year-on-year for May, driving the dollar higher. This figure is the highest number since August 2008 amid low base effects from last year. The annual core CPI accelerated to 3.8% from 3.0% while the monthly rate ticked slightly down to 0.7% versus 0.9% previously. The Fed is anticipated to take baby steps towards slowing its bond purchases and the [..]

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