All Articles Tagged - GBPUSD

Daily Market Comment – Asian virus flareups dent equities but dollar struggles as yields slip

Posted on May 17, 2021 at 9:14 am GMT

Fresh virus spike in Asia weighs on stocks and bond yields, lifting gold But some support for risk assets as taper fears ease after soft US retail sales Dollar steady as investors await Fed speakers and April minutes for new clues Asian virus escalation saps sentiment Market sentiment got off on the wrong foot at the start of the new trading week after Taiwan and Singapore announced tighter restrictions to tackle a worrying spike in Covid cases in recent days. [..]

Weekly Comment – More pain for USD or will the Fed let something slip?

Posted on May 14, 2021 at 1:34 pm GMT

After some wild gyrations, nothing much has changed for USD as investors are in the dark as ever on when the Fed will dial back its QE programme. The only thing that has become more certain is that it’s less likely to be in the summer. As markets are bombarded with conflicting data, the volatility can only get worse. But a quieter week ahead might provide some respite. What to watch: The focus will remain very much on the Fed [..]

US Open Note – US retail sales disappoint with minor impact on greenback

Posted on May 14, 2021 at 12:57 pm GMT

US retail sales dive below expectations The highlight of the day is the US retail sales, which were flat month-on-month in April, worse than the 1% increase that was expected versus an upwardly revised 10.7% surge in March. The US dollar index is retreating for the second consecutive day with weak momentum and unable to surpass the 91.00 mark. Dollar/yen is trading soft but above the 109.00 psychological level. The dollar could gain on a rise in US yields, while the slow recovery in the employment market may turn consumption [..]

Week Ahead – Inflation scare shakes markets, European PMIs next

Posted on May 14, 2021 at 11:35 am GMT

It was a wild week in financial markets. Stocks got smoked while the dollar clawed back some ground as inflation finally showed its teeth, reigniting worries about higher interest rates being on the horizon. The upcoming week seems calmer. There are no central bank meetings and the minutes of the latest Fed decision will likely be seen as outdated. Instead, all eyes will be on the PMI business surveys out of the Eurozone. Fed-ache Concerns around cheap money policies being [..]

US Open Note – Dollar rally stalls despite strong jobless claims and PPI

Posted on May 13, 2021 at 1:10 pm GMT

Jobless claims fall again but dollar slips The producer price index and initial jobless claims out of the United States are in the spotlight today after last week’s disappointing jobs report and the surprise jump in inflation yesterday. US initial jobless claims declined to 473 thousand in the week ended May 7 versus 490K forecast after Wednesday’s inflation shock and the Federal Reserve was clear that the employment outlook will have to notably rise before there is a change in monetary policy. Annual inflation climbed to the [..]

US Open Note – Stocks stabilize with US inflation uncertainty, dollar flickers green

Posted on May 12, 2021 at 1:28 pm GMT

Market retraction pauses; US CPI shocks markets but effects fade Investors have been patiently awaiting hints from US inflation today on whether the stride of the recovery has somewhat slowed. The risk-off climate is not receiving any assistance from yields and it seems profit taking and inflation could be the premise for the latest risk-off environment. The pullback of the highs in the major US indices continues to denote the deterioration in near-term risk sentiment despite the release of [..]

US Open Note – Stocks slip and yields muted; dollar takes back seat as inflation fears remain

Posted on May 11, 2021 at 1:27 pm GMT

Stocks in the red and dollar’s might curbed as yields steady The major US indices have pulled back from their highs with the Nasdaq 100 slipping 2.63% and the Dow Jones falling the least. It seems some aftereffects from the freshly inflicted wound of the disappointing NFP payrolls for April may be curbing dollar strength, but subdued yields are also playing their part. The dollar index is flirting with the 90.00 mark after the greenback surrendered to bearish forces. Moreover, [..]

Daily Market Comment – Tech shares blasted, dollar drifts amid inflation scare

Posted on May 11, 2021 at 8:32 am GMT

· Stocks slip as traders cut exposure to tech and pre-profit companies · Dollar unable to capitalize on the risk aversion amid inflation worries · Cable stabilizes after sprint higher, Fed speakers in focus today Dash for value continues Wall Street came under pressure at the start of the new week as the rotation away from growth and tech stocks escalated. While the overall stock market is still near record highs, tech investors are quietly heading for the exits and [..]

Technical Analysis – GBPUSD makes new bullish plans within channel

Posted on May 11, 2021 at 7:57 am GMT

GBPUSD extended Friday’s bullish run to a 2½-month high of 1.4157 on Monday but finished the day slightly lower around the closing price from the end of February at 1.4135, which has also been a hurdle during 2018. The RSI has yet to reach the overbought territory and the MACD continues to gain momentum above its red signal line and within the positive area. Therefore, the bulls may not easily walk away in the short term. Above the 1.4235 barrier, the [..]

Pound clears $1.41, shrugs off Scottish referendum threat, eyes UK GDP – Forex News Preview

Posted on May 10, 2021 at 2:16 pm GMT

UK Prime Minister Boris Johnson has tightened his grip in England but calls for a new Scottish independence referendum have grown louder following last week’s regional and local elections across Britain. The pound is nevertheless rejoicing as the Scottish National Party fell short of a majority in the Scottish Parliament, while Johnson’s Conservatives came out unscathed from the recent sleaze allegations that have been engulfing the party. However, the battle between Holyrood and Westminster has only just begun and while [..]

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