All Articles Tagged - GBPUSD

Daily Market Comment – Wall Street trembles as Yellen channels her inner Fed chair

Posted on May 5, 2021 at 8:31 am GMT

· US Treasury Secretary Yellen talks about rate hikes, tech stocks suffer · But turmoil doesn’t spill over into FX, dollar gets only a minor boost · ISM non-manufacturing survey and ADP jobs report coming up Yellen sparks tech selloff Market participants just got a small preview of what could happen when interest rates finally start rising. A wave of selling gripped equity markets yesterday, with the tech sector caught in the eye of the storm after Treasury Secretary and [..]

Daily Market Comment – Dollar choppy, stocks resilient despite ISM miss

Posted on May 4, 2021 at 9:01 am GMT

· Dollar retreats after disappointing ISM report but bounces back · Sterling outperforms as speculation for BoE tapering grows · Gold capitalizes on subdued yields, RBA takes the sidelines Markets in wait-and-see mode after ISM survey The US dollar is still searching for direction. The reserve currency took a hit yesterday in the wake of a softer-than-expected ISM manufacturing survey and another reminder from Fed Chairman Powell that the world’s largest economy isn’t out of the woods yet, only to [..]

Technical Analysis – GBPUSD is smooth below 1.4000; neutral bias

Posted on May 4, 2021 at 7:22 am GMT

GBPUSD has been developing within a horizontal trajectory over the last two months, surpassing the 20- and 40-day simple moving averages (SMAs), which are ready to create a bullish crossover. The MACD oscillator is endorsing the sideways move, holding in the positive region, while the MACD is pointing up above the 50 level. Immediate resistance could be faced at the 1.4000 psychological level, which is acting as a significant barrier in the short-term. Stretching above this crucial line, the bulls [..]

Bank of England: Taper time? – Forex News Preview

Posted on May 3, 2021 at 3:21 pm GMT

The BoE will publish its latest rate decision at 11:00 GMT Thursday alongside updated economic forecasts, which Governor Bailey will present during his press conference. The British economy is doing much better and there’s speculation the Bank might signal a slowdown of its asset purchases. That could propel the pound higher, but whether any gains are sustained will also depend on the Scottish elections on the same day. Reaping the rewards of vaccinations The United Kingdom is finally ready to [..]

Weekly Comment – After dovish Fed, NFP unlikely to boost sagging dollar

Posted on April 30, 2021 at 2:10 pm GMT

The US dollar recouped some losses at the end of the week but couldn’t hide the bruises endured in April as the Fed dashed any remaining expectation that it will respond to any spike in inflation. The focus next week will be on the NFP numbers. But don’t expect the dollar to get excited. Next week’s highlights: The RBA meets on Tuesday and will update its view on the economy. Australia’s recovery remains strong but subdued inflation and [..]

Week Ahead – RBA to stand pat but BoE might taper; Can a bumper NFP excite after dovish Fed?

Posted on April 30, 2021 at 12:24 pm GMT

The central bank theme will continue over the next seven days with policy meetings by the Reserve Bank of Australia and Bank of England. The RBA will probably maintain some caution after weak inflation figures but there is some speculation the BoE could start to taper its asset purchases as early as the May meeting. On the data front, the nonfarm payrolls report is due out of the United States. However, after the Fed once again dismissed talk of an [..]

Daily Market Comment – Dollar set for big monthly losses, stocks struggle for direction again

Posted on April 30, 2021 at 8:56 am GMT

Dollar steadier but month-long rout probably not over yet, yen firmer too S&P 500 closes at another record high but stocks slip today amid some jitters Copper soars past $10,000 a tonne, oil moderates after boost from upbeat US GDP Don’t fight the dovish Fed The US dollar is on track for its worst 4-week run since last July and looks set to end the month with losses of at least 2.5%. An uptick in the growth outlook for some [..]

US Open Note –Stocks strong around highs, yields receive boost, dollar on back foot

Posted on April 29, 2021 at 1:44 pm GMT

Stocks optimistic as yields rise, risk remains somewhat subdued, GDP data key Stocks maintain an upbeat tone with the S&P 500 index winning the race, currently at the 4,214 level. The dollar index has surrendered its latest gains to today’s high of 90.67, pulling slightly lower to 90.53. The stumble in the greenback has strengthened the euro to $1.2133 assisted by a slur of positive Eurozone data, which is outperforming the relatively subdued sterling at $1.3944. The Fed has somewhat [..]

US Open Note – Fed decision in spotlight; dollar rises near 109 yen

Posted on April 28, 2021 at 1:11 pm GMT

FOMC meeting in focus; dollar heads higher The major highlight of the day is the Federal Reserve’s policy announcement at 18:00 GMT. Policymakers will likely recognize the fast economic recovery from the pandemic as the progressing vaccination program brightens the outlook for the economy. Despite that, the central bank is expected to keep interest rates steady within the target range of 0-0.25% and its monthly bond purchases stable at $120 billion. Following the Bank of Canada’s bond tapering announcement, investors will be eaerly waiting to hear whether the Fed is also planning [..]

US Open Note – Market in calm tone ahead of earnings and FOMC

Posted on April 27, 2021 at 12:57 pm GMT

Dollar and euro tick up The greenback is regaining some ground versus the Japanese yen, holding around 108.40 ahead of the Federal Reserve policy decision tomorrow, no changes are expected in policy settings. The dollar index is still moving with weak momentum near 91.00 and below the 50-day simple moving average (SMA). Jerome Powell will give hints on whether improving economic conditions justify a tapering of monetary easing. Euro/dollar is flattening, remaining below the two-month high at 1.2116 and pound/dollar is surpassing the 1.3900 number. In commodity [..]

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