All Articles Tagged - GBPUSD

Daily Market Comment – Stocks and currencies tell a conflicting story

Posted on October 13, 2020 at 9:46 am GMT

Equities cruise higher, back within breathing distance of record highs But FX doesn’t play ball – yen climbs, commodity currencies underperform Euro headed for trouble amid high infections and growth worries Today: US inflation data coming up, earnings season resumes Currencies don’t play along with stock rally The US stock market rallied furiously on Monday, with the tech-heavy Nasdaq 100 gaining 3.1% to come within breathing distance of its recent record highs, propelled higher by the likes of Apple (+6.4%) [..]

Technical Analysis – GBPUSD tests key resistance for fresh bullish momentum

Posted on October 13, 2020 at 6:14 am GMT

GBPUSD is testing the 1.3000-1.3080 area, where a broken long-term descending trendline stretched from the 2015 highs happens to be, following the strong rebound at the bottom of the ascending channel and near the 200-day simple moving average (SMA). The pair is also making an attempt to extend beyond its 50-day SMA as the RSI and the MACD are flashing a bullish bias, with the former running above its 50 neutral mark and the latter improving above its signal and zero lines. For the [..]

Daily Market Comment – Art of the Deal sends equities higher, torpedoes dollar

Posted on October 12, 2020 at 8:38 am GMT

White House bumps stimulus offer to $1.8 trillion, stock market cheers Kudlow hints this offer could be raised further, keeping optimism alive Dollar slides amid renewed deficit concerns, gold capitalizes ECB chief economist prepares the ground for more easing Markets cheerful as stimulus negotiations resume In an epic reversal after pulling out of the stimulus talks last week, Donald Trump came back to the negotiating table on Friday with a counteroffer of $1.8 trillion, sparking hopes that a deal is [..]

Brexit endgame: who will blink first as talks enter final phase? – Special Report

Posted on October 9, 2020 at 12:06 pm GMT

It’s Brexit season again and amidst the blitz of coronavirus and US election headlines, Brexit is the other topic that’s prominent in news feeds at the moment as new deadlines approach. But deadlines have come and gone before, and each time people hoped Brexit is done and dusted. However, this time, it really is the final battle round and if there is no deal in the coming weeks, Britain will default to trading with the European Union on WTO terms [..]

Week Ahead – Hopes of a Democratic sweep propel markets higher

Posted on October 9, 2020 at 11:57 am GMT

It’s been a wild week for global markets, which defied the gloom after President Trump halted the negotiations for another relief package to focus instead on the rising odds of a decisive Biden victory that could bring much greater stimulus after the election. This will likely remain the dominant theme for the dollar and equities for now, with economic data being overshadowed by incoming election polls. Meanwhile, the earnings season resumes, Brexit talks continue, and it seems like the second [..]

Technical Analysis – GBPUSD retains bullish bias in very short-term

Posted on October 9, 2020 at 6:46 am GMT

GBPUSD gained some ground above the potential bearish crossover of the 20- and 40-period simple moving averages (SMAs). The momentum indicators are signaling a neutral-to-bearish retracement as the RSI is pointing down in the positive territory, while the MACD is moving horizontally above the zero line. However, in case the price continues to rebound off the 1.2670 support level, it could open the door for the 1.3000-1.3035 resistance area. Above this crucial zone, the bulls could meet resistance at the 1.3170 barrier, taken from the inside swing [..]

Daily Market Comment – Dollar slides, stocks climb on renewed stimulus hopes

Posted on October 8, 2020 at 8:57 am GMT

Stimulus deal not dead yet but confusion about size and timing keeps risk appetite in check Wall Street closes at one-month high as investors warm up to idea of Biden win Fed minutes lift Treasury yields but dollar sold off on improved sentiment Kiwi stabilizes after plunging on fresh negative rates speculation Markets undeterred by stimulus setback, see a deal in the offing Equities got off to a positive start on Thursday following a strong performance on Wall Street yesterday [..]

Daily Market Comment – Trump calls off stimulus talks, sinks Wall Street; dollar up

Posted on October 7, 2020 at 9:06 am GMT

Trump halts stimulus negotiations with Democrats, sends stocks spinning lower But losses cut short as Trump calls for standalone relief bills Dollar comes off highs, eyes FOMC minutes for fresh policy clues Markets not giving up on stimulus as Trump sows confusion Risk assets bounced back on Wednesday as investors questioned President Trump’s intentions for abruptly abandoning talks with the Democrats on a new coronavirus relief bill. A few hours after Trump put an end to the negotiations – where [..]

Pound may shrug off data as Brexit and Covid are back on the menu – Forex News Preview

Posted on October 6, 2020 at 3:02 pm GMT

The British pound will see the release of monthly GDP figures for August on Friday at 07:00 GMT along with manufacturing production. Traders will be looking for clues on whether the third quarter has been more constructive for the economy after a disastrous performance in the previous two quarters. However, the data may not be fully representative of current conditions and hence could be a weak market mover as Covid infections are making a second round. Brexit and the dollar’s [..]

Daily Market Comment – Dollar steadies as Trump’s health, US stimulus in focus

Posted on October 6, 2020 at 8:49 am GMT

Trump is discharged from hospital but question marks remain about his health US fiscal stimulus edging closer but no deal yet Dollar firms slightly, equities subdued as road ahead still foggy Relief as Trump returns to the White House Markets were calmer on Tuesday as the panic over President Trump’s health subsided further while negotiations for a new coronavirus relief bill continued. Asian stocks got off to a positive start, lifted by news that Trump had been discharged from the [..]

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