All Articles Tagged - GBPUSD

Daily Market Comment – Dollar licks wounds after rollercoaster week, tech stocks rebound

Posted on May 21, 2021 at 9:30 am GMT

Dollar skids towards 3-month lows as inflation and taper fears ease further Wall Street halts losing streak as lower yields lift tech stocks Commodities extend losses but gold holds near highs amid rotation out of crypto Dollar bruised by Fed taper false alarm Inflation and taper jitters subsided further on Friday following the mid-week scare when the Fed minutes revealed some worries about persisting high inflation and eagerness among some participants to begin the taper debate. However, markets have concluded [..]

Technical Analysis – GBPUSD rebounds off 1.4100; positive profile in medium term

Posted on May 20, 2021 at 2:22 pm GMT

GBPUSD has found strong support at the 1.4100 psychological level, holding near the 40-period simple moving average (SMA). The RSI is ticking slightly up in the negative territory, however the MACD is holding below its trigger line. In case the pair changes its short-term direction to the upside, the bulls will probably challenge the previous top at 1.4220. A break higher could last until 1.4345, which is the peak from January 2018. Alternatively, additional declines may drive the price towards [..]

US Open Note – Dollar flatlines after FOMC meeting minutes; equities mixed

Posted on May 20, 2021 at 1:16 pm GMT

Markets in no man’s land after FOMC meeting minutes Markets seem to be in no man’s land today. On the one hand, the reopening phase in developed countries and accommodative fiscal and monetary policies point to a bright future for the global economy. On the other hand, the patience among central banks against rising fears of above-target inflation threatens a delayed response and a bumpy economic recovery. Surprisingly, the FOMC minutes from April’s meeting attempted to shed some light on [..]

US Open Note – Stocks in the red as inflation debate continues; dollar recoups some ground

Posted on May 19, 2021 at 1:19 pm GMT

Fed meeting minutes eyed as inflation jitters resurface Inflation jitters and the latest infection pickups in Asia offset growth optimism in markets on Wednesday and revived fears that the Fed could start its tapering process and subsequently raise interest rates sooner than expected although the central bank has talked down the case several times, arguing that any spike in inflation will be temporary. Perhaps the Fed may once again put its assurances into words when it releases its minutes from [..]

Daily Market Comment – Inflation fears creep in again ahead of Fed minutes

Posted on May 19, 2021 at 9:12 am GMT

Inflation worries spark US tech selloff, prompting caution ahead of Fed minutes US futures slip further but dollar slide eases on slight risk averse mood Loonie pulls back from highs on lower oil prices, eyes CPI data Inflation concerns won’t go away Market jitters about higher inflation resurfaced late on Tuesday, weighing on equities, as investors reassessed the outlook for earnings growth against a backdrop of higher costs and supply constraints. Big tech stocks with sky-high valuations were the biggest [..]

Pound gains bullish traction ahead of data releases – Forex News Preview

Posted on May 18, 2021 at 3:19 pm GMT

British Chancellor Rishi Sunak expressed in an exclusive interview last week that post-Brexit Britain can look forward to a flourishing future as hopes and opportunities are rising again after a harsh start to the year. Following a robust employment report, April’s CPI inflation figures on Wednesday (06:00 GMT) and retail sales (06:00 GMT) and flash Markit/CIPS PMI figures for the same month on Friday (08:30 GMT) could add further credence to the bullish economic picture. With the Bank of England [..]

US Open Note – Stocks pick up, dollar hurt and gold retains bullish tone

Posted on May 18, 2021 at 1:15 pm GMT

Stocks recoup yesterday’s lost ground as dollar loses dominance US major indices are largely holding around yesterday’s highs after having reclaimed surrendered ground, emanating a slight pickup in risk appetite. That said the damage in the greenback is being felt across the board. The dollar index plunged below the 90.0 mark and has managed to stabilize around 89.70. The Fed’s dovish stance seems to be weighing on the greenback and sentiment appears to be subdued. Steady yields are not discouraging [..]

Daily Market Comment – Stocks bounce back as optimism returns, dollar sags

Posted on May 18, 2021 at 9:13 am GMT

Stocks bounce back as recovery hopes supersede virus and inflation jitters Dollar slumps on easing Fed taper worries but inflation bets lift gold Euro and pound surge as Europe reopens, loonie hits highest in 6 years Markets buoyed as optimism takes over Fears about rising virus cases in Asia receded on Tuesday as signs that infections in India are on the decline and as more European nations slowly lift their restrictions boosted hopes that the global recovery remains on track. [..]

Technical Analysis – GBPUSD elevates toward multi-year high; bullish tone grows

Posted on May 18, 2021 at 7:47 am GMT

GBPUSD has acquired buoyancy after recently returning above the Ichimoku cloud and is now clearly eyeing the 34-month peak of 1.4236. The bullish simple moving averages (SMAs) are safeguarding the broader uptrend, while the Ichimoku lines are indicating that positive momentum is picking up. The short-term oscillators appear skewed to the upside and are signalling that bullish sentiment is intensifying. The MACD is strengthening above its red trigger line in the positive region, while the RSI is manoeuvring towards the [..]

US Open Note – Virus spikes favor safe havens; US equity futures point lower

Posted on May 17, 2021 at 1:12 pm GMT

Stocks tumble as Covid outlook gets cloudy again Markets traded with mixed feelings during the European session as Covid success countries such as Taiwan, Singapore, and Hong Kong reported the highest number of daily infections since the start of the pandemic, forcing the resumption of fresh social distancing measures and the closure of schools, cafes and bars. On the other side of the planet, European economies were moving forward with their reopening plans, with the UK lifting its international travel [..]

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