All Articles Tagged - GBPUSD

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 8:16 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sank to a fresh [..]

Technical Analysis – GBPUSD bullish at 9-month high; 2019 peak next in focus

Posted on September 1, 2020 at 7:12 am GMT

GBPUSD found strong support along the upper line of an upward-sloping channel and accelerated above a five-year old descending trendline, avoiding the confirmation of any bearish trend pattern. The price is currently trying to claim the 1.3400 area and crawl towards the 2019 peak of 1.3515, which is a possible scenario as the technical indicators reflect a cautiously bullish bias. The pair is comfortably above its simple moving averages (SMA), the MACD is regaining strength above its red signal line, [..]

Daily Market Comment – Fed’s paradigm shift ripples through markets

Posted on August 31, 2020 at 8:39 am GMT

Dollar steadies after Powell’s torpedo, support regions hold on most charts Equities sail higher as investors look for a hedge against future inflation Coming up: speech by Fed Vice Chairman and RBA policy decision Dollar hit on all sides, but still standing The implications of the Fed’s latest paradigm shift continue to reverberate through global markets. Investors seem to have taken the signal that inflation will be allowed to ‘run hot’ as credible, judging by the spike higher in market-based [..]

Technical Analysis – GBPUSD edges below 8-month peak; holds in neutral zone

Posted on August 28, 2020 at 9:14 am GMT

GBPUSD surges to an eight-month high around 1.3290 on Friday, trying to overcome the consolidation area that has been holding since August 13. Looking to the short-term oscillators, the MACD and the RSI promote slight improvements as they are strengthening their momentum, despite diminished directional momentum. Yet, the increasing 20- and 40-period simple moving averages (SMAs) maintain a bullish tone. Should buyers drive above the 1.3290 strong resistance, they could encounter initial strengthened resistance from the 1.3513 peak, registered on [..]

Daily Market Comment – Powell jolts dollar; yen spikes on Abe resignation

Posted on August 28, 2020 at 8:51 am GMT

Powell sets out Fed’s new approach to inflation and employment Dollar swings wildly as yields plunge and then rally on Fed policy shift Japan’s Abe quits unexpectedly; Tokyo stocks tumble, yen jumps Fed’s new plan stokes inflation expectations As expected, Fed Chair Jerome Powell unveiled on Thursday a big shakeup of how the Federal Reserve conducts monetary policy. The Fed adjusted its objectives for both inflation and employment, moving to a more flexible regime of targeting an average inflation rate [..]

Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]

Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

Technical Analysis – GBPUSD forms strong bullish tendency but stands below 8-month peak

Posted on August 25, 2020 at 7:04 am GMT

GBPUSD is holding beneath the eight-month high of 1.3270 that it reached on August 19, but the outlook remains strongly bullish above the ascending trend line from March 20. The price is currently capped by the 20-day simple moving average (SMA), finding some difficulty to surpass this line, and the RSI indicator is turning slightly higher in the positive area. However, the MACD oscillator is still heading down below its trigger line in the short-term. The Ichimoku lines are pointing [..]

Daily Market Comment – Virus ‘breakthrough’ lifts stocks; dollar awaits Powell speech

Posted on August 24, 2020 at 9:00 am GMT

Markets start week on positive note amid progress on Covid-19 treatment and vaccine Dollar holds firm as investors gear up for Powell’s big Jackson Hole speech Euro and pound left reeling after data shock and Brexit blow Virus optimism leads equities higher Markets have started the week on a cheery note as news that President Trump has authorized the emergency use of plasma treatment for Covid-19 patents and is considering fast tracking a UK vaccine before the election boosted sentiment. [..]

Daily Market Comment – Dollar gets a second wind after bleak Eurozone PMIs

Posted on August 21, 2020 at 8:15 am GMT

Vaccine news from Pfizer boost sentiment, more records for Nasdaq Dollar can’t find much love amid risk-taking mood But how long can the market ignore Europe’s second wave? Perhaps not long, as the Eurozone’s PMIs provide a reality check Dollar feels the ‘risk on’ blues There’s no love for the US dollar out there. The reserve currency remained on the back foot on Thursday, surrendering some of the gains it posted after the FOMC minutes played down the prospect of [..]

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