All Articles Tagged - GBPUSD

US Open Note – Stocks stabilize and dollar on back foot ahead of FOMC minutes

Posted on April 7, 2021 at 1:49 pm GMT

Stocks hover at highs, dollar slips as yields ease, oil ranges A subdued risk tone is emanating in markets as stocks are holding around their highs but the dollar’s latest weakness seems may continue for a while longer, as 10-year yields (1.65%) provide mild downside pressure. The greenback’s broader feebleness has dipped the dollar index below the Asian session’s low of 92.23 and it appears to be eyeing the 92.00 handle, while this propelled the euro to 1.1880 per dollar. [..]

Technical Analysis – GBPUSD eases slightly after bullish action in near term

Posted on April 6, 2021 at 7:06 am GMT

GBPUSD is slowing its momentum after the rise in the Ichimoku cloud, finding crucial support at 1.3670. Also, cable is hovering beneath the bearish crossover within the 20- and 40-day simple moving averages (SMAs). The technical indicators are showing positive signals. The RSI is pointing up in the positive area, while the stochastic is entering the overbought region. A clear step above the short-term SMAs could take the investors until the 1.4000 handle before touching the mutli-month peak of 1.4235 and [..]

US Open Note – Dollar’s bullish trend is your friend; pound at 2-week highs

Posted on April 5, 2021 at 1:07 pm GMT

Dollar’s bullish run could see more extensions Stock and bond trading will resume at normal hours today in the US, as European traders will remain out of the office to celebrate Easter Monday. Following the stellar NFP release on Friday, the ISM non-Manufacturing PMI for March will probably extend its upward trajectory comfortably within the expansion area at 14:00 GMT, backing the progress outlined by the Markit PMI readings, which will also see their final revision a few minutes before [..]

Daily Market Comment – Dollar smiles after stellar jobs report, RBA in focus

Posted on April 5, 2021 at 8:55 am GMT

Dollar and equities cruise higher after encouraging US employment data Elevated yields continue to keep euro and yen under pressure RBA policy decision and ISM services survey coming up Good times in the United States The aftershocks of the stellar US employment report are still reverberating across global markets on Monday, as most of Europe and several Asian trading hubs remain closed for holidays. The US economy added an impressive 916k jobs in March, far more than the projected 660k, [..]

US Open Note – NFP skyrockets, showing strong recovery in US; dollar turns green

Posted on April 2, 2021 at 1:00 pm GMT

Nonfarm payrolls surge by 916k; unemployment rate plunges Today’s nonfarm payrolls report is the biggest and only event of the day in the absence of any other data due to most markets being closed for Good Friday, with forex being the only notable market open. The report generated some volatility in the greenback after several months of muted impact. The US economy added 916k jobs in March from February’s job growth of 379k, beating expectations of a 660k increase, the strongest employment growth in seven months. The unemployment rate ticked [..]

Daily Market Comment – Dollar and yields retreat as S&P 500 smashes 4,000 level

Posted on April 2, 2021 at 8:46 am GMT

Biden’s tax increases dampen Treasury yields, dollar slips back S&P 500 hits new record above 4,000 amid recovery hopes, NFP eyed Oil likes OPEC+ plans to gradually ease supply curbs Dollar on the backfoot ahead of NFP The US dollar was struggling to hold onto to its weekly gains after falling sharply on Thursday on the back of the slide in Treasury yields. The retreat in long-dated yields comes after President Biden said his $2 trillion infrastructure plan would be [..]

Technical Analysis – GBPUSD tests its bullish momentum near channel’s upper band

Posted on April 2, 2021 at 7:28 am GMT

GBPUSD is testing the topline of the downward-sloping channel, having registered a higher low at 1.3700, and surpassed its 20- and 50-period simple moving averages (SMAs) on the four-hour chart. The RSI and the MACD are positioned in the bullish area, promoting further improvement in the market as the former is extending its positive momentum above its 50 neutral level and the latter is gaining strength above its signal and zero lines. A decisive close above the channel and the 1.3855 level [..]

Daily Market Comment – Biden infrastructure plan gets lukewarm reception, dollar steady

Posted on April 1, 2021 at 9:12 am GMT

Biden unveils $2.3 trillion in infrastructure spending, but much of it already priced in Stocks edge up after mixed day on Wall Street, Treasury yields hold steady Dollar maintains gains, euro weighed by French lockdown, aussie crumbles Gold gets quarter-end boost, oil eyes OPEC+ decision Biden announces tax-and-spend plans US President Joe Biden outlined his much-awaited plan on boosting infrastructure across America on Wednesday, unveiling a $2.25 trillion package that looks set to divide Congress. Biden’s ambitious policies include billions [..]

US Open Note – Stocks freeze, dollar flashes green and oil stabilizes

Posted on March 31, 2021 at 1:07 pm GMT

Risk-off tone ahead of US employment data and Biden’s stimulus speech Markets today appear withdrawn and seem to be conveying a sense of calm before the storm as investors anxiously await the US ADP employment results and the details of the next stimulus from President Joe Biden. The fairly muted risk appetite in stocks has benefited the greenback, providing it with some traction after it temporarily lost its dominance, plunging from today’s high of 93.44 as the European trading session [..]

US Open Note – Stocks pull back, dollar dominates, gold melts and oil falls

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

Stocks dip, dollar powers up, stimulus lifts yields The king dollar seems to be quite comfortable on the throne today as a risk-off tone is taking shape in markets. The dollar index soared today to 93.20, pulling with it the swissie to 0.9425 francs per dollar and the yen to 110.38 per dollar. The rise in Treasury yields due to anticipated new fiscal stimulus has hindered stocks and boosted the dollar. Further fuel to this dollar fire transpires from positive [..]

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