All Articles Tagged - GBPUSD

US Open Note – Dollar freezes in calm day; Vaccine rollout gets delayed

Posted on March 16, 2021 at 1:59 pm GMT

Dollar holds firm; S&P 500 flies to record high The market today is calm as investors are all waiting on the Fed tomorrow to commit to any firm moves. The FOMC is starting a two-day meeting that will end tomorrow and no change in policy is predicted, but the forward guidance for interest rates and asset purchases will be crucial. Stock futures are almost flat today and the bond market is virtually unchanged, so this looks like a market waiting for guidance from the Fed. European stocks/equities/markets are [..]

Daily Market Comment – Wall Street hits new records, FX market quiet

Posted on March 16, 2021 at 9:33 am GMT

Stock market winning streak continues as yields stabilize European nations suspend AstraZeneca vaccine, but euro undaunted US retail sales coming up as traders lay low ahead of FOMC meeting Stable yields give equities the green light The equity gravy train keeps on rolling. All the major indices on Wall Street aside from the Nasdaq hit another record high yesterday as bond yields stabilized and economic optimism ruled the day. The accelerated pace of vaccinations in America and the imminent spending [..]

Technical Analysis – GBPUSD unable to defeat 1.4000 but upside risks persist

Posted on March 16, 2021 at 9:12 am GMT

GBPUSD is heading for a retest of the 50-day simple moving average (SMA), currently residing within a support base of 1.3757-1.3800. However, the soaring SMAs are defending the more than 5-month uptrend. The flattening red Tenkan-sen line, although beneath the rising blue Kijun-sen line – which is backing the positive picture – is suggesting that the bears may struggle to shift the momentum to the downside. Nevertheless, the now bearish short-term oscillators are signalling that the endured bullish tone has [..]

Week Ahead – Will Fed & Co follow in ECB’s footsteps and signal QE shift?

Posted on March 12, 2021 at 1:56 pm GMT

The Federal Reserve will be meeting for the first time since yields exploded higher and the Biden stimulus bill became law. The Bank of England and Bank of Japan will announce their decisions too. Will the Fed and other central banks take their cues from the European Central Bank and respond to the bond market selloff by stepping up their purchases? The debate about whether higher yields warrant fresh policy action will likely dominate the market conversation, especially as there’s [..]

Technical Analysis – GBPUSD tumbles around 1.39 and below 100-period SMA

Posted on March 12, 2021 at 10:31 am GMT

GBPUSD has come under renewed selling interest today around 1.3900, diving below the 100-period simple moving average (SMA) in the 4-hour chart. The price is hovering in the Ichimoku cloud and the technical indicators are suggesting a downside movement. The RSI is tumbling around the neutral-threshold of 50, after the pullback off the overbought territory, while the MACD is losing ground in the positive region. Steeper decreases could find immediate support at the 1.3845 barrier ahead of the 1.3780 hurdle, [..]

US Open Note – Markets in peace after US CPI figures meet forecasts; Treasury bond auctions in focus

Posted on March 10, 2021 at 2:11 pm GMT

German DAX 30 hits fresh record high The European session was mostly quiet, with the pan STOXX 600 claiming a small measure of gains as bond yields in the region continued to sideline below this week’s highs along with US Treasury yields. Yet, despite the softer positive tone, the German DAX 30 index managed to pin a new record high slightly above the 14,500 mark on the back of healthcare and real estate shares, which soared by 2.19% and 1.20% [..]

UK GDP data may further cool pound rally but bulls might not be done yet – Forex News Preview

Posted on March 10, 2021 at 12:14 pm GMT

A barrage of UK data will greet traders when European markets open on Friday (07:00 GMT), with the monthly GDP print being the main highlight. Considering that much of Britain was under a strict lockdown in January, the numbers are not anticipated to do the pound any favours, as the currency undergoes a much-needed correction versus the dollar following a relentless rally since October. Nevertheless, the grim figures and the greenback’s fight back are expected to be only a temporary [..]

US Open Note – Dollar, bond yields on the retreat; Nasdaq eyes strong rebound

Posted on March 9, 2021 at 2:05 pm GMT

Riskier assets gain on dollar weakness Tuesday brought some risk-on trading back on the surface as the cooling in US Treasury yields and the slowdown in the dollar allowed risk-sensitive currencies to heal. The dollar index could not reach the 200-day simple moving average (SMA) earlier in the day, peaking slightly lower at 92.50 before easing to 92.00. Despite the weakness in the Japanese yen, dollar/yen also pulled back to seek support near 108.80 after marking another higher high at [..]

Daily Market Comment – Dollar stands tall, equities struggle amid tech exodus

Posted on March 9, 2021 at 9:38 am GMT

Dollar and sterling reign supreme in rising yield environment Stock markets calm overall, but tech sector gets purged However, yields fall back on Tuesday, cooling dollar while lifting stocks and gold Epic rotation within markets continues While the overall stock market did not retreat much yesterday, that masks the seismic rotation happening under the hood, away from tech shares with bloated valuations and towards value and cyclical plays that might shine as the global economy re-opens. It is not every [..]

Technical Analysis – GBPUSD looks for support near 50-SMA; downside risks remain

Posted on March 9, 2021 at 8:34 am GMT

GBPUSD closed below the supportive 20-day simple moving average on Friday (SMA), increasing the case for additional downside corrections. Despite the weakness in the MACD and the downward direction in the RSI, the area around the 50-day SMA slightly beneath at 1.3769 could provide another opportunity for the bulls to rebuild their strength as they did back in December. If this level holds firm, with the price crossing back above the nearby 1.3960 resistance and the red Tenkan-sen line too, [..]

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