All Articles Tagged - GBPUSD

US Open Note – Dollar bulls outperform as Wall Street prepares for another bumpy day

Posted on March 8, 2021 at 2:18 pm GMT

US futures could face another red day; European stocks recover Upbeat data releases continued to feed expectations of inflamed prices, and therefore an earlier monetary tightening on Monday, despite central banks using verbal intervention last week to play down any adjustment in their ultra-loose accommodative policy for the next couple of years. The US 10-year Treasury yield pared earlier losses on Monday to rise as high as 1.6130%, signaling that the downside pressure on Wall Street may stay in play [..]

Daily Market Comment – Dollar shines after Senate approves relief bill, but stocks shaky

Posted on March 8, 2021 at 10:12 am GMT

Solid US jobs report and relief package approval propel dollar higher But stock markets still shaky as tech sector grapples with rising yields Overall, this looks like a healthy and mostly isolated correction Good news keeps on coming Global markets continue to dance to the tune of rising bond yields, as a swift vaccination campaign and the overload of federal spending that is arriving soon have seen investors bring forward the timeline of Fed rate increases. The US labor market [..]

Technical Analysis – GBPUSD corrects below 200-MA; bullish bias endures

Posted on March 5, 2021 at 2:48 pm GMT

GBPUSD improved off the 200-period simple moving average (SMA) around 1.3830, after the correction from the 34-month peak of 1.4236 spiked below it and near the low of 1.3775. The Ichimoku lines are reflecting a pause in negative momentum, while the falling 50-period SMA is endorsing further bearish tendencies in the pair, which also previously had curbed price gains off the 1.3865 level. The short-term oscillators are conveying an increase in positive momentum. The MACD, some distance below zero, is [..]

US Open Note – Dollar pushes up after strong NFP report

Posted on March 5, 2021 at 2:03 pm GMT

NFP report drives dollar even higher It’s NFP day and markets just got an update on the speed and direction of the country’s labor-market recovery. The US economy added 379k jobs compared to market expectation of a 182k rise and 49k before, while the unemployment rate fell to 6.2% from 6.3% in the preceding month, amid easing business restrictions, falling coronavirus infection rates, a fast vaccine rollout and continued support from the government. Markets are still focusing on the imminent $1.9trln of stimulus package and an ultra-dovish Fed. The spike [..]

Daily Market Comment – Dollar surges, stocks sink after Powell lets yields run loose

Posted on March 5, 2021 at 10:05 am GMT

Powell gives no hints about possible action to stem selloff in Treasuries Dollar soars to 3-month high, shares on Wall Street tank for third straight day OPEC+ extends output cuts in surprise move, oil scales early 2020 highs Treasury yields resume rally after Powell stays course Investors hoping for fresh clues from the Fed about how it plans to ride through the storm in bond markets were left disappointed on Thursday after Chair Jerome Powell offered no new insight. Speaking [..]

US Open Note – Markets in risk-on tone; Dollar still flies

Posted on March 3, 2021 at 2:05 pm GMT

Stocks and dollar in slightly positive tone; Fed announces Beige Book The market seems to be calmer today. European equities are holding onto gains, while US futures indicate a positive open. The US dollar index jumped to a one-month high of 91.39 yesterday, before retreating around 91.00. Dollar/yen continues the upside rally towards a fresh six-month high above 107.00. Stimulus negotiations are likely to go into overdrive this week as President Joe Biden’s $1.9 trillion Covid-19 relief bill goes to the US Senate. Also, the Fed announces its Beige Book report. Since [..]

Daily Market Comment – Dollar snaps gains as Fed doubles down on easy policy

Posted on March 3, 2021 at 10:00 am GMT

Dollar suffers sharp pullback as yields settle lower, Fed hints at unease about surge Economic optimism, bond market calm drive stocks, US futures higher Pound hoping for budget boost as $1.40 becomes elusive, euro tests $1.21 Bond market rout eases further, with a little help from the Fed The panic that roiled bond markets last week continued to recede on Wednesday as central bankers from Europe, Australia and elsewhere warned against sudden spikes in bond yields, which have had a [..]

US Open Note – Dollar’s fight back continues as bond market remains in focus

Posted on March 2, 2021 at 2:14 pm GMT

Wall Street could start the day in red; bond market in focus The futures tracking the S&P 500 and Nasdaq 100 are signaling a negative open today after their biggest advance in almost nine months, as investors cautiously monitored the bond market and progress on the next round of fiscal stimulus. Wall Street surged on Monday as bond markets calmed, while developments on Covid-19 vaccines and fiscal stimulus bolstered expectations of a swift economic recovery. The dollar gained on the back of the reflation trade. Dollar/yen [..]

Daily Market Comment – Dollar advances as stocks slip again, yields hold steady

Posted on March 2, 2021 at 10:02 am GMT

Calmer bond markets lift Wall Street, but global stocks dip on China’s bubble warning Dollar approaches one-month high as ECB, RBA and RBNZ push back on rising yields Oil prices fall for third straight day on higher supply worries, gold struggles Bubble warning pressures stocks Risk appetite waned slightly on Tuesday as the relative stability in bond markets was overshadowed by warnings of a “bubble problem in foreign financial markets” by a top Chinese financial regulator. The comments revived fears [..]

Technical Analysis – GBPUSD grasps for support near 20-SMA

Posted on March 2, 2021 at 8:13 am GMT

GBPUSD is marking the fourth day of declines near the 20-day simple moving average (SMA) which could be a make-or-break point in the coming sessions given the upside reversals around that line during the past three months. The 23.6% Fibonacci level of the 1.2674 – 1.4235 up leg is in the same position at 1.3867, giving more importance to the region and therefore suggesting that any violation here could see another negative extension. That said, the technical signals have yet to switch [..]

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