All Articles Tagged - GBPUSD

UK retail sales and PMIs to turn spotlight on recovery amid Brexit shenanigans – Forex News Preview

Posted on October 21, 2020 at 11:38 am GMT

It may be hard to escape the latest bombardment of Brexit headlines but crucial economic data coming up at the end of the week may help divert attention to the recovery in Britain as COVID-19 cases continue to rise rapidly across the country. Retail sales numbers for September are due on Friday at 09:00 GMT, to be swiftly followed by the flash October PMIs at 08:30 GMT. Although growth in the economy has stayed positive since May, there are increasing [..]

Daily Market Comment – Stimulus deal moves closer; stocks cheer but dollar sags

Posted on October 21, 2020 at 8:58 am GMT

Talks continue on virus relief bill as Trump backs large stimulus Stocks rise but gains contained amid doubts about Republican support Dollar slumps to one-month low as euro soars, gold catches a bid too Markets anxiously await a stimulus deal Growing optimism that a bipartisan deal on a new coronavirus aid package in the United States is within reach lifted equities on Wednesday while investors dumped the safe-haven US dollar. Talks between House Speaker Nancy Pelosi and Treasury Secretary Steven [..]

Daily Market Comment – Stimulus uncertainty hits sentiment; RBA flags more easing

Posted on October 20, 2020 at 9:05 am GMT

US stimulus talks make progress but short time window spooks investors Aussie slips as RBA gives clearest indication yet it will ease policy soon Pound steady despite endless brinkmanship in Brexit talks Stimulus deal getting closer but may come too late Talks in the United States on a new round of fiscal stimulus remains very much the focus for investors as time is fast running out for a pre-election spending bonanza. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin [..]

Technical Analysis – GBPUSD holds beneath 1.3000; slightly bearish in short term

Posted on October 20, 2020 at 7:01 am GMT

GBPUSD has reversed back down again after finding resistance at the 1.3080 level and the 1.3000 psychological mark, being the 23.6% Fibonacci retracement level of the up leg from 1.1409 to 1.3487. The momentum indicators are pointing to a neutral bias in the short term with the RSI holding near the 50 level and the MACD oscillator is moving sideways around the zero level. Also, the price is holding within the 20- and 40-day simple moving averages (SMAs) and the [..]

Daily Market Comment – Cautious optimism as US stimulus and Brexit talks hang in the balance

Posted on October 19, 2020 at 9:00 am GMT

Pelosi sets new deadline for reaching fiscal stimulus deal; US stock futures edge up Mild risk-on tone after China GDP miss as stronger September lends support Pound shrugs off on-off Brexit talks as UK leaves door open to a deal Euro struggles after Lagarde adds to growing dovish voices Hopes for pre-election stimulus deal not dead yet Fresh talks in Washington between the White House and the Democrats on a new virus relief bill kept alive hopes that a deal [..]

Week Ahead – Flash PMIs could underscore worsening virus trend; US election polls in focus

Posted on October 16, 2020 at 12:36 pm GMT

The virus reality has come back to bite markets just as investors were attempting once again to shrug off the gloom and doom. The daily frequency of tighter Covid restrictions being announced across Europe and dimming expectations of a pre-election stimulus deal by US lawmakers has put a dampener on risk sentiment over the past few days. Uncertainty about the US election and Brexit are adding to the market anxiety. With none of these outstanding issues expected to be resolved [..]

Technical Analysis – GBPUSD pares losses after getting caught in another Brexit storm

Posted on October 16, 2020 at 12:18 pm GMT

GBPUSD swung by about 100 pips on Friday, setting an upper boundary around 1.2960 and a floor at 1.2860. The momentum indicators in the 4-hour chart are pointing to a mixed bias in the near term. The %K line of the stochastic oscillator continues to climb out of oversold territory and is positively sloped with the %D line, suggesting there is still some upside left in the pair after today’s erratic moves. But looking at the RSI, which is heading [..]

Daily Market Comment – Wall Street storms back, but currencies don’t play along

Posted on October 16, 2020 at 8:30 am GMT

US stocks trim losses, close almost unchanged as Trump hints at higher stimulus offer Yet, the currency arena doesn’t get the memo – dollar holds onto gains Most likely just a reflection of euro and sterling weakness Coming up: US retail sales today, New Zealand election over the weekend Equity and currency markets dance to different tunes Global markets are torn between conflicting narratives, with fears around new virus restrictions in Europe that could cripple the recovery being mostly neutralized [..]

Daily Market Comment – Sentiment sours as stimulus talks stall, virus cases surge

Posted on October 15, 2020 at 8:05 am GMT

Stocks retreat, dollar goes nowhere as Mnuchin plays down pre-election stimulus European covid cases go through the roof, but euro stands its ground UK signals it won’t abandon Brexit talks this week, pound jumps Aussie slides after RBA Governor fuels speculation for rate cut Stimulus talks stall, markets fall Global equity markets continue to correct lower, with the major US indices sliding yesterday and Asian bourses being a sea of red on Thursday, as the chances of a US relief [..]

Daily Market Comment – Lockdown fears running wild

Posted on October 14, 2020 at 8:01 am GMT

Dollar comes back to life as euro and sterling feel the lockdown blues Little progress in US stimulus talks also supports dollar, pressures stocks Overall, plenty of risks out there being ignored by investors? Lockdown blues hammer euro and pound The European virus situation is getting worse by the day, with a surge in new cases and hospitalizations across the continent forcing many nations to go back into partial lockdown so that healthcare systems are not overwhelmed. The Netherlands announced [..]

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