All Articles Tagged - GBPUSD

Daily Market Comment – Virus surge overshadows vaccine progress, dollar ticks up

Posted on November 19, 2020 at 10:00 am GMT

Wall Street wobbles as restrictions tighten across the United States Dollar firms across the board amid growing fears of a winter health crisis EU budget row, Brexit angst sap euro and pound Markets subdued as virus surge shows no sign of easing Vaccine optimism struggled to sustain the positive risk sentiment as investors found it hard to ignore the ever-worrying headlines about exploding infection and hospitalization rates in Europe and America. The death toll in the United States from COVID-19 [..]

Daily Market Comment – Growth worries dent vaccine optimism but can’t stem dollar slide

Posted on November 18, 2020 at 9:49 am GMT

Stocks mostly negative after disappointing US retail sales underline near-term risks Surge in US virus cases and fresh outbreaks in Japan, Australia unnerve markets Cautious tone unable to lift dollar as slump in Treasury yields weighs Kiwi outperforms again, pound is close behind amid hopes of a Brexit breakthrough Renewed growth jitters put brakes on vaccine rally The vaccine euphoria suffered a knockback after stalling retail sales numbers out of the United States yesterday highlighted the short-term challenges policymakers still [..]

UK retail sales likely ground to a halt in October but all eyes on Brexit progress – Forex News Preview

Posted on November 17, 2020 at 2:49 pm GMT

It’s another week and another round of negotiations are taking place between UK and EU officials to try and clinch a deal on a post-Brexit trade agreement. With the transition period set to end on December 31, Thursday’s EU summit is seen as a potential date for a draft text to be agreed upon. But although pound traders remain optimistic, there’s already speculation that the latest “deadline” may slip away, dragging the negotiations into December. In the meantime, Britain’s economic [..]

Daily Market Comment – Vaccine rally eases but optimism prevails

Posted on November 17, 2020 at 9:47 am GMT

Vaccine hopes keep risk assets supported even as more US states clamp down Dow closes in on 30,000 as growth-to-value rotation accelerates Dollar steadier, euro shrugs off EU budget crisis, pound holds out for Brexit deal Oil moderates ahead of OPEC+ meeting as bleak short-term outlook curbs advances Moderna adds to vaccine euphoria The fight against the pandemic took another major step forward on Monday after Moderna became the latest pharmaceutical company to announce a vaccine for COVID-19. Moderna’s vaccine, [..]

Technical Analysis – GBPUSD regains optimism above Ichimoku cloud

Posted on November 17, 2020 at 9:29 am GMT

GBPUSD’s positive response appears to be strengthening as the pair is stepping higher from the minor pullback towards the Ichimoku cloud. The bounce on November 2 off the 100-day simple moving average (SMA) brightened the bias as it drove the price over the cloud, keeping bullish hopes alive. The rising red Tenkan-sen line conveys increasing momentum, while the MACD and the stochastic oscillator reflect a rise in sentiment. The MACD, in the positive area, is developing above its red trigger [..]

Daily Market Comment – Vaccine optimism, upbeat data push stocks to new highs, dollar retreats

Posted on November 16, 2020 at 9:51 am GMT

Week gets off to positive start as vaccine, strong recovery and Biden victory drive optimism Global stocks surge as S&P 500 sets fresh record high, dollar extends slide Pound holds steady as Brexit talks enter critical phase Markets buoyed by vaccine progress and upbeat Asian data Rapid progress in the race for a COVID-19 vaccine more than offset the deepening gloom of the present virus reality as the latest wave shows no sign of waning. Expectations that last week’s breakthrough [..]

Week Ahead – Plenty of data but Covid, Trump and Brexit might steal the spotlight

Posted on November 13, 2020 at 1:40 pm GMT

After the US election and vaccine frenzy, economic data will move to the forefront in the coming week, with inflation and retail sales comprising the bulk of the releases. However, investors might be wrong to assume that the election and virus storms are over as Trump steps up his legal fight to overturn Joe Biden’s projected win and as several states in America head towards new lockdowns. If all that fails to produce enough drama, there is always Brexit waiting [..]

Technical Analysis – GBPUSD sets up for some recovery; key resistance area ahead

Posted on November 13, 2020 at 9:47 am GMT

GBPUSD has been developing an upward structure in the four-hour chart since the end of September, recently unlocking a two-month high of 1.3311 near a key upward-sloping line, which has been curbing both upside and downside corrections from April onwards. The price has decelerated thereafter but the 50-period simple moving average (SMA) managed to catch the fall around 1.3128 earlier this week, giving another chance to the bulls. With the Stochastics exiting the oversold area and the price having deviated [..]

Daily Market Comment – White House steps back from stimulus negotiations

Posted on November 13, 2020 at 9:31 am GMT

Markets quiet on Friday as latest bout of risk aversion fades Equities set to end week barely higher, yen and gold much lower Investors grappling with vaccine hopes vs rising infections White House reportedly stepping back from fiscal talks It’s a battle of narratives Global markets appear trapped between conflicting drivers, with rampant optimism for a vaccine painting a brighter picture for next year but surging infections and fading prospects of powerful fiscal stimulus keeping the animal spirits in check. [..]

Daily Market Comment – Vaccine euphoria runs out of steam, Fed chief speaks

Posted on November 12, 2020 at 9:36 am GMT

Markets in a cautious mood as lockdown reality eclipses vaccine hype Stocks pull back, dollar climbs, but moves rather small in size Main event today: Discussion panel featuring Fed, ECB, and BoE chiefs ECB sticking to its guns about more stimulus, will Fed follow suit? Back to reality for markets A sense of caution has crept back into global markets on Thursday as investors grapple with the short-term covid reality on the ground, which has reined in the enthusiasm around [..]

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