All Articles Tagged - GBPUSD

Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]

Ghost of Brexit returns to haunt sterling – Special Report

Posted on September 8, 2020 at 1:54 pm GMT

The British pound came under fire this week, after the UK threatened to undermine the divorce deal it has already signed with the EU and walk away from the trade negotiations altogether if no agreement is reached by mid-October. While this ultimatum is probably just a hardball negotiating tactic, it still sets the stage for a painful correction in sterling over the coming weeks as political uncertainty intensifies. Ultimately though, a last-minute deal is the most likely outcome. Power play [..]

Daily Market Comment – Pound hammered as no-deal Brexit fears return

Posted on September 8, 2020 at 8:48 am GMT

Brexit comes back to haunt the pound as Johnson raises the stakes Euro sticks to tight range ahead of Thursday’s ECB decision Stocks regain positive footing but dollar up as Trump talks China decoupling Pound slumps after Johnson threatens no deal Only five weeks left to reach a deal and Britain and the European Union are too busy posturing than negotiating, with Boris Johnson’s latest rhetoric once again raising the prospect of a no-deal Brexit. As the talks to agree [..]

Technical Analysis – GBPUSD rejected from 8½-month high; next level 1.30

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

GBPUSD has reversed back down again after finding resistance at the eight-and-a-half-month high of 1.3487 achieved last week. The momentum indicators are pointing to a neutral to negative bias in the short term with the RSI holding near the 50 level and the MACD oscillator falling below the trigger line in the positive zone. Moreover, the price declined below the 20-day simple moving average (SMA) and is heading towards the five-month ascending trend line. Further losses should see the 40-day [..]

Daily Market Comment – Wall Street tumble, job woes put dollar on defensive

Posted on September 7, 2020 at 8:57 am GMT

Dollar edges up as US tech losses deepen, jobs recovery slows Brexit threatens pound rally as Johnson raises his game in EU talks Chinese exports surge keeps risk sentiment afloat as US tensions weigh Tech rally suffers major setback Global equity markets attempted to shrug off Wall Street’s rare selloff last week as Asian shares ended Monday mixed, while Europe’s major bourses opened sharply higher. The somewhat questionable risk-on tone was underscored by better-than-expected trade figures out of China, which [..]

Week Ahead – ECB meets amid deflation and euro headaches; BoC to stand pat

Posted on September 4, 2020 at 11:02 am GMT

Policy meetings by the European Central Bank and the Bank of Canada will heat up the September central banks schedule in the coming days, adding some excitement to an otherwise uneventful week. Neither central bank is expected to announce any new measures so the focus will be on what policymakers say about the recovery and the outlook. The ECB, in particular, will be one to watch as deflation worries are mounting and a stronger euro could jeopardise an already weakening [..]

Technical Analysis – GBPUSD hold below 40-period SMA; bullish in medium term

Posted on September 4, 2020 at 9:46 am GMT

GBPUSD held in losses this week, dropping to the 1.3240 support level and near to the Ichimoku cloud. The RSI in the four-hour chart continues to miss direction in bearish area, while the MACD is holding below the zero line. The red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for a meaningful recovery in the short-term trading. However, should the price close comfortably above the 40-period moving average (SMA) (1.3308), which has been unbreakable over the past sessions, traders could add more value [..]

Daily Market Comment – Wall Street rediscovers gravity ahead of US jobs report

Posted on September 4, 2020 at 8:06 am GMT

Stock markets tank as investors dump their tech darlings Yet, there is no sense of panic in the market, especially among currencies US jobs report today might decide if this correction still has some mileage in it Risk aversion makes a rare appearance After cruising higher without any significant corrections for three months now, the US equity market finally suffered a meaningful setback on Thursday. The S&P 500 lost 3.5% and the Nasdaq was down 5% as investors dumped tech [..]

Daily Market Comment – ECB fires another salvo at the euro

Posted on September 3, 2020 at 8:19 am GMT

Euro/dollar extends correction lower after ECB officials raise the FX alarm Wall Street goes on a rampage as US government hypes a vaccine breakthrough Today: ISM non-manufacturing PMI, jobless claims, and central bank speakers ECB: The dollar’s unlikely hero The world’s most traded currency pair continues to drift lower, after the European Central Bank fired another verbal barrage to shoot the high-flying euro down. The latest media reports suggest “several” ECB officials are concerned that if the euro continues to [..]

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 8:14 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

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