All Articles Tagged - GBPUSD

Daily Market Comment – Biden’s $1.9 trillion stimulus plan sparks profit-taking

Posted on January 15, 2021 at 9:28 am GMT

Stock markets drift lower as Biden’s relief plan raises execution questions Dollar undecided, caught between mild risk aversion and dovish Powell Euro starts pricing in the risks, sterling smiles as UK vaccinations accelerate Today: US retail sales, big bank earnings, and German leadership contest Markets worry Biden’s proposal will be watered down The US President-elect unveiled his new stimulus package to reawaken the American economy, which would cost $1.9 trillion. It includes direct payments of $1400, aid for state and [..]

Technical Analysis – GBPUSD retreats from a jump above 1.3700

Posted on January 15, 2021 at 7:32 am GMT

GBPUSD created a spike to the upside on Thursday, surpassing the 1.3700 round number and recording a fresh 33-month high before it returned lower. In trend indicators the 20- and 40-period simple moving averages (SMAs) posted a bullish crossover in the 4-hour chart, while the red Tenkan-sen line is holding above the blue Kijun-sen line in a flat mode. The RSI, in the positive region, is pointing slightly down and the MACD is dropping below the trigger line in the bullish area. [..]

Daily Market Comment – Investors brace for Biden’s stimulus plan

Posted on January 14, 2021 at 9:23 am GMT

US President-elect Biden to unveil his stimulus proposal (00:15 GMT Friday) Size and details of the plan crucial for fate of dollar and equities Markets quiet overall waiting for Biden, ignore Trump impeachment Fed chief Powell speaks, ECB minutes coming up, Italian politics eyed Dollar’s fortunes hang on Biden’s proposal The main event today will be the unveiling of incoming US president Biden’s stimulus plan. The overall price tag of the package will likely be the main variable for markets, [..]

UK GDP likely sank again in November but Bailey and vaccines give pound a lift – Forex News Preview

Posted on January 13, 2021 at 3:00 pm GMT

UK economic output likely plummeted in November – figures out on Friday are expected to reveal (07:00 GMT) – after the country was plunged in a second lockdown. But things have only gotten worse since then as England has been forced into its third lockdown. However, the grim data will probably be seen as too out-of-date to have a material impact on the pound as traders look beyond the winter shutdowns and towards mass inoculations. With the UK leading the [..]

Daily Market Comment – Euro ignores Merkel’s warning of prolonged German lockdown

Posted on January 13, 2021 at 9:19 am GMT

Dollar retreats after Fed officials play down prospect of QE tapering Euro capitalizes on dollar’s woes, even as Merkel warns of extended lockdown Stock markets quiet, but crude oil continues impressive bull run US inflation data and Fed speakers today could set the tone Dollar retreats as Fed’s George plays down tapering The world’s reserve currency came back under selling pressure on Tuesday as Fed officials poured cold water on speculation around a withdrawal of their massive liquidity programs. The [..]

Daily Market Comment – Fed officials talk tapering

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

Dollar buoyed by rising US yields as Fed discusses QE tapering Stock markets suffer a rare pullback, dragged lower by big tech Sterling gets its feet under it as BoE Governor plays down negative rates Parade of Fed speakers today – normalization remarks crucial US growth expectations reflected in rising yields Fed remarks about a potential scaling back of the QE program eclipsed everything else in a rather quiet session on Monday, pushing US Treasury yields higher and helping the [..]

Technical Analysis – GBPUSD’s retraction unable to tilt appreciation scale

Posted on January 12, 2021 at 9:05 am GMT

GBPUSD continues to echo a positive tone despite recently retreating from a fresh 32-month high of 1.3703. The rising red Tenkan-sen line is suggesting positive momentum is growing, while the flattening blue Kijun-sen line is indicating that the ascent is under stress. Nonetheless, the advancing simple moving averages (SMAs) are defending the bullish picture. Furthermore, the short-term oscillators are conveying a pickup in positive sentiment. The MACD remains some distance above the zero line despite weakening slightly below its red [..]

Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 9:52 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]

Week Ahead – The calm before the stimulus storm?

Posted on January 8, 2021 at 1:32 pm GMT

It looks like a quiet week for global markets, with no major central bank meetings and only a handful of key data releases. The highlight may be the US CPI data, which will tell us how inflationary pressures are evolving, but even that could pass unnoticed. Instead, the main driver for markets may be any signals around a new relief package once the Democrats take over the US government. If so, the ‘reflation trade’ could continue to dominate. Stimulus hopes [..]

Technical Analysis – GBPUSD positively skewed despite recent consolidation

Posted on January 8, 2021 at 12:00 pm GMT

GBPUSD is consolidating into the Ichimoku cloud after its recent retreat from the newly formed 32-month peak. The bias still seems to be favouring the upside although positive momentum is looking somewhat strained. Furthermore, the commanding bullish simple moving averages (SMAs) are overall preserving the positive structure in spite of the minor stalling in the 50-period SMA. The short-term technical oscillators are transmitting signals of growing bullish sentiment, promoting an optimistic outcome. The MACD is marginally below its red trigger [..]

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