All Articles Tagged - GBPUSD

Daily Market Comment – Dollar pares losses, stocks muted in wait for Fed, earnings

Posted on April 27, 2021 at 9:10 am GMT

Firmer Treasury yields help dollar steady as traders look to Fed for the next cue US consumer confidence data, Treasury auction eyed as inflation worries persist Another record on Wall Street as earnings season heats up but overall mood subdued Dollar attempts rebound as Fed outcome awaited The US dollar was still licking its wounds on Tuesday as it clawed higher in lacklustre trading ahead of the FOMC decision on Wednesday. Although nothing new is anticipated by the Fed tomorrow [..]

Technical Analysis – GBPUSD stagnant around 50-day SMA; optimism lingers

Posted on April 27, 2021 at 8:38 am GMT

GBPUSD is flirting with the 1.3869 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 1.2674 until the 34-month high of 1.4236, after the price pullback found some footing off the 100-day simple moving average (SMA). The bullish SMAs are shielding the positive structure, while the slowed incline of the 50-day SMA is endorsing a more neutral-to-bullish tone. The conflicting signals in sentiment in the short-term oscillators are indicating a phase of weak directional momentum. [..]

US Open Note – Dollar rebounds off new lows ahead of busy week

Posted on April 26, 2021 at 1:18 pm GMT

Dollar remains under pressure; big earnings are coming up The key event of the week is the FOMC meeting on Wednesday and a packed earnings schedule, starting with Tesla after the US market close. As US yields are still depressed, the US dollar index is drifting below the 91.00 crucial level, while dollar/yen is moving horizontally around the 108.00 round number after the pullback off the 13-month peak of 110.95. If there is a turnaround in US yields then there is an expectation of the dollar to regain some ground. US Durable [..]

Daily Market Comment – Dollar slump deepens, stocks quiet ahead of big earnings

Posted on April 26, 2021 at 8:51 am GMT

Dollar rout continues as Fed expected to repeat dovish message Euro capitalizes, climbs to 2-month top on renewed European optimism Stocks lack direction, await key earnings and barrage of US data releases Dollar stuck in the doldrums but yields firmer eyeing Fed It’s Fed week but the dollar can’t catch a break as the US currency extended its slide on Monday against its major peers amid a combination of a dovish Fed rate outlook and rising optimism in other parts [..]

US Open Note – Dollar marks third cold week as euro shines; US PMIs next into focus

Posted on April 23, 2021 at 1:15 pm GMT

Another bad week for the dollar It’s been the third depressing week for the US dollar as investors had more to chew in Europe. The US economy is widely expected to grow at its fastest annual pace in decades this year as its successful vaccination program and the falling infection and death rates reduce the case for more lockdowns. But this is already old news, and as long as the Fed shows no willingness to step off the accelerator pedal, [..]

Daily Market Comment – Stock markets retreat on old tax news

Posted on April 23, 2021 at 8:50 am GMT

· Wave of selling hits stock markets after recycled capital gains tax story · Euro pulls back after ECB downplays tapering, rebounds after PMIs · Pound snoozes after British PMIs, American ones also on the agenda today Algos go haywire or investors sleeping at the wheel? It was a surreal session in financial markets. Wall Street took a hit to close almost 1% lower, following reports that the White House will seek to double the capital gains tax that wealthy [..]

Technical Analysis – GBPUSD gains positive traction near 200-SMA; upside move fragile

Posted on April 23, 2021 at 7:51 am GMT

GBPUSD returned most of its weekly wins, but the bullish breakout above the descending channel remains valid, with the pair currently pushing for a rebound near the 200-period simple moving average (SMA) on the four-hour chart. The recent golden cross between the 50- and 200-period SMAs is an encouraging trend signal, though in terms of momentum, the picture is still muddy as the MACD is stepping into negative waters and the RSI has yet to cross above its 50 neutral mark. For [..]

US Open Note – Euro steady after ECB; US jobless claims endorse economic recovery

Posted on April 22, 2021 at 1:27 pm GMT

ECB policy decision as expected The European Central Bank (ECB) met analysts’ expectations today, leaving its interest rates unchanged and its asset purchases steady, reaffirming its pledge to maintain a flexible approach as regards the PEPP program within the envelop of 1.85 trillion euros. The policy statement did not bring up anything new, leaving euro/dollar below the key resistance of 1.2070 – 1.2100 despite the recent rising upside pressures in the market. The global yield rally prompted the central bank [..]

UK flash PMIs to recover further as economy reopens; retail sales ahead – Forex News Preview

Posted on April 21, 2021 at 1:42 pm GMT

The latest batch of British data will hit the markets on Friday. Retail sales will be released at 06:00 GMT ahead of the flash Markit PMIs at 08:30 GMT, which are expected to improve as lockdown restrictions were relaxed. After being weighed by vaccine troubles, the British pound is on a stronger footing as the UK economy slowly reopens. Upbeat data on Friday could further bolster the pound’s rebound. Long road to recovery The Markit services PMI is forecast to [..]

US Open Note – Asian Covid breakout pauses dollar bears; BoC policy decision ahead

Posted on April 21, 2021 at 1:04 pm GMT

Covid, geopolitics feed some risk off Alarming infection breakouts and new variants of Covid-19 in emerging economies threaten a déjà vu of the past in developed countries, or at least are warning of prolonged lockdown measures (see Japan) and a slow recovery from the pandemic despite the vaccination rollouts. Geopolitical conflicts in several corners of the world are adding to this complexity, forcing some investors to seek safety in the US dollar on Wednesday, though the demand for the currency [..]

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