All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD erases upside rally in short-term

Posted on March 30, 2021 at 7:25 am GMT

GBPUSD is falling following the pullback off the 35-month high of 1.4235 and is hovering beneath the bearish crossover within the 20- and 40-day simple moving averages (SMAs). The technical indicators are showing mixed signals as the RSI is pointing down in the negative area, while the stochastic is heading north. The downside move could take the price towards the long-term ascending trend line and the 23.6% Fibonacci retracement level of the upward wave from 1.1405 to 1.4235 at 1.3570. [..]

US Open Note – Oil recovers; US stocks and dollar ease

Posted on March 29, 2021 at 12:46 pm GMT

Oil rises after negative open The focus of the day is the modest recovery in oil, which is flirting with the $61/per barrel level, after the episode in the Suez Canal. There is no clarity yet of when traffic in the canal will restart. At least 450 ships are thought to be waiting or heading towards the waterway. Traders may next turn their attention on the OPEC+ meeting later this week when major producers are expected to keep output levels [..]

US Open Note – Safe havens give ground to commodity currencies

Posted on March 26, 2021 at 1:23 pm GMT

Yen the worst performer, antipodeans on the rise Friday has been a risk-on day ahead of the US open, with safe-haven currencies falling and stocks rising as Biden’s doubling of the vaccination rollout target and the Fed’s decision to lift restrictions on dividends and buybacks for most banks on June 30 brightened the outlook for the global economy. The European stock indices followed their Asian counterparts higher, though their ascent was less cheerful, driven mainly by energy and basic materials. [..]

Week Ahead – US jobs report to headline quiet Easter week

Posted on March 26, 2021 at 12:33 pm GMT

As markets reassess how soon European economies will be able to reopen, the March nonfarm payrolls report out of the United States will likely highlight the widening growth disparity between the two regions. The expected strong US data could help maintain the dollar’s upward drive but ultimately, its path will be determined by whether or not risk appetite bounces back. Risk sentiment has been fragile of late as an increasingly bitter spat between the UK and EU over vaccine exports [..]

Technical Analysis – GBPUSD rises after finding support at 7-week low

Posted on March 26, 2021 at 10:24 am GMT

GBPUSD has recorded a stunning rally since yesterday, finding support at the seven-week low of 1.3670. The price advanced above the 20-period simple moving average (SMA) in the 4-hour chart, with the RSI currently increasing positive momentum above the 50 level. The MACD is approaching the zero level, holding above the trigger line. If the pair continues the bounce up, immediate resistance could be met at the 23.6% Fibonacci retracement level of the down leg from 1.4235 to 1.3670 at [..]

Daily Market Comment – Equities bounce back, dollar holds firm, euro steadier

Posted on March 26, 2021 at 10:14 am GMT

Mood brightens after Wall Street posts late rebound but risks from quarter-end flows Dollar slightly off highs, euro barely recovers as EU leaders clash over vaccines Aussie and kiwi lead gainers, oil jumps again as Suez Canal blockage could last weeks Stocks head higher as traders focus on US recovery World stocks look set to end a turbulent week on a more positive note after upbeat news on the US economy fuelled a late rally on Wall Street on Thursday. [..]

Daily Market Comment – Dollar stands tall as lockdown worries hang over markets

Posted on March 25, 2021 at 10:11 am GMT

Dollar inches up to fresh highs but yen steps back as US stock futures steadier Euro and pound try to put a floor under losses after EU and UK pledge vaccine cooperation Oil prices see-saw on Suez Canal blockage, European lockdown woes Dollar extends gains amid ongoing lockdown misery The dented growth outlook in Europe continued to weigh on markets on Thursday as the latest announcements of virus curbs from the continent have dashed hopes of a speedy recovery in [..]

US Open Note – European markets falter; US flash Markit PMIs & Powell’s testimony ahead

Posted on March 24, 2021 at 1:25 pm GMT

Frustration with AstraZeneca continues Wednesday’s European session was not very productive for stocks and currencies, with the euro and the pound remaining negatively charged against the dollar despite the upbeat flash Markit PMI readings for March. The blames go to the troubling vaccination program in the Eurozone, which turned even uglier after AstraZeneca’s injections were blamed for causing blood clots in several countries. Although the EU lifted its suspension of the vaccine, frustration with AstraZeneca did not cease as Brussels [..]

Daily Market Comment – Stocks falter, dollar surges amid lockdown gloom, US tax hike talk

Posted on March 24, 2021 at 10:08 am GMT

Risk aversion enters full gear as Yellen’s tax hike signals and European lockdowns sap sentiment Dollar climbs to 4-month high, yen surges too, bond yields slip further amid flight to safety Stocks slide deeper into the red but Wall Street futures point to a brighter start today Mood sours further on lockdown and tax hike fears Traders continued to rush into safe havens while dumping risk assets on Wednesday as a synchronized global recovery looked increasingly doubtful, prompting many investors [..]

US Open Note – Stocks and gold steady, dollar reveals brawn, oil slips

Posted on March 23, 2021 at 2:08 pm GMT

Stocks find footing, dollar takes throne, Chair Powell eyed Stocks halted earlier Asian losses and are stabilizing somewhat, emanating subdued risk sentiment, ahead of Chair Powell’s forthcoming testimony and a number of FOMC member speeches. Markets remain manoeuvred by rising yields and COVID-19 related-barriers and worries, as the inflation narrative has taken the back seat. Nevertheless, the dollar’s attractiveness may soon elevate further, if President Biden’s administration manages to bring to fruition another $3 trillion of infrastructure spending. The dollar [..]

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