All Articles Tagged - GBPUSD

Daily Market Comment – European lockdowns weigh on stocks, lift dollar; Powell testimony eyed

Posted on March 23, 2021 at 9:59 am GMT

New lockdowns in Europe dampen risk sentiment, bolster dollar and yen Stocks slip back but rumours of massive US infrastructure package lend support Kiwi slumps on steps to cool house prices, oil tumbles too, euro and pound muted Dollar up amid fresh lockdown worries Renewed fears about extended lockdowns in Europe are undermining risk assets again as a summer reopening of the continent’s economy is looking increasingly unlikely. Germany became the latest country today to delay a planned easing of [..]

Technical Analysis – GBPUSD holds range near 50-SMA; bias neutral-to-bearish

Posted on March 23, 2021 at 8:30 am GMT

GBPUSD continues to range-bound between the 50-day simple moving average (SMA) and the tough resistance of 1.4000 for the second week, refusing to chart a new lower low below 1.3774. The short-term signals, however, remain discouraging as the 20-day SMA is slowly converging to the downside and towards the 50-day SMA, while the momentum in the RSI and the MACD keeps weakening, with the former having inched below its 50 neutral mark and the latter preparing to exit the positive [..]

Daily Market Comment – Lira crashes after Erdogan sacks CB chief; yen climbs, stocks struggle

Posted on March 22, 2021 at 9:41 am GMT

Turkish lira plummets by 13% after Turkey’s president fires hawkish central bank head Surprise move causes jitters in financial markets, boosts safe havens like yen and dollar Aussie leads the losers, euro and pound slip too amid growing UK-EU vaccine row Lira plunges to 4-month low amid fresh crisis Turkish President Recep Tayyip Erdogan responded to last week’s bigger-than-expected rate hike by the country’s central bank by ousting its governor, Naci Agbal, in a shock move late on Friday. The [..]

US Open Note – Dollar steady, US futures struggle and euro slips

Posted on March 19, 2021 at 1:29 pm GMT

Dollar in horizontal mode; euro below 1.19 A quiet day is on the cards, as reflected in forex and stock markets, with the US dollar moving slightly lower versus the Japanese yen below 109.00, while the dollar index is hovering above the 50- and 100-day simple moving averages (SMAs). Euro/dollar has slipped below the 1.1900 handle and is trying to break to the downside the nine-month ascending channel. Pound/dollar is moving with weak momentum while euro/pound is climbing above the [..]

Technical Analysis – GBPUSD ticks up in neutral bias in short term

Posted on March 19, 2021 at 8:20 am GMT

GBPUSD has been moving sideways over the last three weeks, hovering above the short-term simple moving averages (SMAs). The price is holding marginally above the Ichimoku cloud, while the RSI is turning higher around the 50 level and the MACD is flattening near its trigger and zero lines. If price action remains above the 1.3900 handle, there is scope to test the 1.4015 resistance. Clearing this key level would likely see additional gains towards 1.4180. Rising above it could take prices to re-test the 34-month high of [..]

US Open Note – US futures slip, dollar edges up and pound eases after BoE decision

Posted on March 18, 2021 at 1:32 pm GMT

Dollar points up again; Pound eases after BoE decision Thursday brought some mild risk-on trading back on the surface after the release of the Bank of England (BoE) decision, which comes hot on the heels of the Fed’s dovish statement yesterday. The US dollar moved broadly higher as the euro/dollar fell to around 1.1925, below the 200-day SMA, while cable is declining slightly after the dovish Bank of England (BoE) decision to hold interest rates at a record low of 0.1%. Policymakers mentioned that UK GDP is anticipated recover during 2021 to achieve reach pre-coronavirus levels, [..]

Daily Market Comment – Dovish Fed lifts Wall Street, but can’t keep yields down

Posted on March 18, 2021 at 10:00 am GMT

Fed maintains dovish rate path despite upping growth and inflation forecasts Dow Jones and S&P 500 hit new records; Nasdaq rises too before futures slip Dollar falls but then rebounds as 10-year Treasury yields resume climb BoE decision up next, pound steady; yen see-saws on BoJ rumours Fed reiterates rate outlook, not worried about yields The Federal Reserve bumped up its growth and inflation projections in its latest meeting on Wednesday even as the majority of policymakers predicted that rates [..]

US Open Note – Stocks soften, dollar flashes green, FOMC draws focus

Posted on March 17, 2021 at 2:04 pm GMT

FOMC jitters, dollar steps up, CAD inflation There seems to be a calm before the storm in markets today, with momentum somewhat having dried up in a climate of economic optimism. The FOMC nerves seem to have benched market players, despite expectations for the Fed to stick to its current course of action, now that accelerated jabs are reaching peoples arms and stimulus relief and government spending will soon start to show face in the economy. The main narrative seems [..]

Daily Market Comment – Bonds and dollar steady, stocks mixed ahead of Fed

Posted on March 17, 2021 at 9:42 am GMT

Fed decision awaited as 10-year Treasury yields hold above 1.60% Dollar flat, Wall Street futures slip as investors brace for Fed inaction EU’s vaccine shambles continue, euro battles to defend $1.19 level More jawboning expected as Fed to stay course Markets were in a calm mood on Wednesday, though sentiment erred on the side of caution as uncertainty around the FOMC decision kept investors on edge. The Federal Reserve is highly anticipated to hold rates and its stimulus programmes unchanged [..]

Bank of England to stick to ‘cautionary realism’ as UK yields surge – Forex News Preview

Posted on March 16, 2021 at 3:30 pm GMT

The Bank of England will announce its latest decision on Thursday (12:00 GMT) just hours after the Fed’s, likely keeping its monetary policy settings unchanged also. There is no press conference or new economic projections to accompany the March meeting, so no fireworks are anticipated. However, investors will be on the lookout for a possibly more upbeat outlook and to see whether the Bank will address the recent volatility in bond markets. The pound could benefit from a less gloomy [..]

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