All Articles Tagged - GBPUSD

US Open Note – Stocks in the red, dollar barely heals, oil surrenders gains

Posted on April 20, 2021 at 1:31 pm GMT

Dollar nudges a tad higher with rising yields, major forex pairs capitalise Major stock markets eased off their recent highs while the dollar index managed to gather some footing around 90.82, prodding just above the 91.00 mark. The recovery narrative, with stimulus in the pipeline and rising yields – 10-year Treasuries advanced to 1.62% – seems to be very much alive, even though the Fed’s insistence that it won’t raise rates prematurely has cooled the dollar lately. Markets’ subdued demeanour [..]

Daily Market Comment – Sinking dollar lifts other FX boats, Wall Street slips

Posted on April 20, 2021 at 8:33 am GMT

· Dollar suffers after technical breaches, revitalizing sterling and euro · Stock markets retreat from records, profit-taking to blame? · Earnings in focus today as traders await the week’s main events April blues hit the dollar A bad month for the US dollar keeps getting worse. The reserve currency fell through some crucial support levels across multiple charts yesterday and negative technical momentum has dominated ever since. It has really been one-way traffic downhill this entire quarter so far. The [..]

Technical Analysis – GBPUSD battles with 1.40; bullish bias is expected

Posted on April 20, 2021 at 6:46 am GMT

GBPUSD is battling with the strong 1.4000 psychological level, following the rebound off the long-term ascending trend line and the 1.3670 support. Moreover, cable jumped above the 20- and 40-day simple moving averages (SMAs) and the Ichimoku cloud. Looking at the technical indicators, the RSI is approaching the 70 level with weaker momentum than the previous session, while the stochastic is turning marginally lower in the overbought region. Stronger upside movements could meet the prior high of 1.4235, which is [..]

US Open Note – Euro capitalizes on battered dollar; Canada unveils new fiscal plan

Posted on April 19, 2021 at 12:56 pm GMT

Europe in green as dollar struggles The persisting weakness in US Treasury yields and some encouraging vaccine news in Europe left the dollar bruised on Monday. The vaccine success in the US and the optimistic outlook for the economy, although supportive to the greenback, have become old news for traders, while the stabilization in US Treasury yields suggests the Fed is likely becoming more successful in convincing markets that monetary policy will remain accommodative at current levels until substantial progress [..]

US Open Note – Dollar remains under pressure; euro hits wall at $1.20

Posted on April 16, 2021 at 12:49 pm GMT

Quieter end to the week; Morgan Stanley releases earnings A calmer session in the forex and stock markets is on the cards today. The US dollar index is struggling around the 91.60 level and the 50-day simple moving average (SMA), which is acting as a crucial level. Dollar/yen rebounded off the 40-day SMA and the 108.40 support, pointing marginally up today. The futures of the S&P 500, Nasdaq 100, and Dow Jones were pointing to a slightly positive open again after a new record high on Thursday. [..]

Week Ahead – BoC set to taper, ECB unlikely to rock euro

Posted on April 16, 2021 at 11:57 am GMT

It will be an exciting week for financial markets, with two major central bank meetings and a storm of economic data to keep traders busy. The Bank of Canada seems ready to scale down its gigantic QE program, though the European Central Bank is unlikely to disturb the waters. In the meantime, PMI business surveys from the major regions will give us a sense of how the recovery is progressing, and whether America continues to out-recover everyone else. EU vaccinations [..]

Daily Market Comment – Yields plunge, defy logic, after blowout data, but dollar steadies

Posted on April 16, 2021 at 9:06 am GMT

US economy firing on all cylinders as data keeps getting better But Treasury yields in surprise fall; dollar off lows as gold jumps to 7-week high Wall Street hits another record on upbeat earnings US recovery gathers steam but Treasuries in puzzling move The US economic outlook continued to brighten after retail sales surged almost 10% in March and jobless claims declined to a new post-pandemic low last week. The stellar data indicate America’s recovery is racing ahead of its [..]

US Open Note – US retail sales surprises but dollar remains firm

Posted on April 15, 2021 at 1:11 pm GMT

US retail sales’ number stronger than expected The spotlight of the day is the US retail sales of March, which surprisingly increased to 9.8% m/m, surpassing the predictions of 5.9%, versus a contraction of 3% in February. The retail sales control group advanced to 6.9% from -3.4% before. Initial jobless claims came out too – filings for unemployment benefits – declining to 576k in the week ending April 10 from 769k before, the lowest level since the start of the coronavirus crisis in March 2020. The greenback [..]

Daily Market Comment – Dollar succumbs to Powell’s dovish tune; stocks mixed

Posted on April 15, 2021 at 9:13 am GMT

Powell reiterates that rate hikes are a long way off, pressing down on yields Dollar skids again but upside risk from retail sales and jobless claims Banks kick off US earnings with a bang but only Dow Jones rises Most dovish Fed Chair ever strikes again The US dollar slid and the 10-year Treasury yield held near three-week lows as Fed Chair Jerome Powell went out of his way to dampen fears of pre-emptive action to stem rising inflation. Speaking [..]

US Open Note – Stocks soar; dollar continues to slip as US yields fall

Posted on April 14, 2021 at 12:30 pm GMT

US dollar back to losses A downside move in the US dollar and the significant climb in US stock futures are the major themes of the day. The question is if this recovery is being driven by the fall in US yields after the milder-than-feared US CPI data. The US dollar index is approaching the 91.60 level, while dollar/yen is in the process of completing the third straight negative day around 109.00. Futures tracking the S&P 500, Nasdaq 100 and Dow Jones were pointing to a slight [..]

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