All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD holds inside Ichimoku cloud after bullish cross within SMAs

Posted on July 3, 2020 at 10:44 am GMT

Technical Analysis – GBPUSD holds inside Ichimoku cloud after bullish cross within SMAsGBPUSD advanced above the falling trend line, that had been holding since June 10, and entered the Ichimoku cloud. Currently, the RSI is flattening above its 50 neutral level, while the MACD is moving sideways above its zero and trigger lines, pointing to a neutral-to-positive short-term trading. Meanwhile, the 20- and 40-period simple moving averages (SMAs) have completed a bullish cross, indicating a positive structure in the short-term timeframe. Should buyers drive above the 38.2% Fibonacci of the downward move from 1.2815 [..]

Daily Market Comment – Record NFP jump overshadowed by US virus surge

Posted on July 3, 2020 at 8:51 am GMT

US economy adds record 4.8 million jobs in June but virus jitters cap risk appetite Stocks pare gains, dollar pulled in opposite directions Rising caution may shift attention back to stimulus as US, EU decisions pending US jobs report smashes forecasts but fails to lift markets The latest nonfarm payrolls report did little to dent expectations of a V-shaped recovery as a record 4.8 million jobs were restored in America in June, beating forecasts of an increase of 3 million. [..]

Daily Market Comment – Dollar stumbles ahead of NFP; vaccine hopes shore up equities

Posted on July 2, 2020 at 8:30 am GMT

Dollar torn between upbeat data and US virus spike; NFP may decide fate Positive vaccine news helps breathe life into flagging stock market rally Gold retreats from highs as markets dismiss US-China tensions Dollar looks shaky as jobs report awaited Markets were mostly in risk-on mode on Thursday as the combination of positive economic indicators and potential coronavirus vaccines kept alive hopes of a strong recovery from the pandemic. But with US markets closed on Friday for Independence Day celebrations, [..]

Daily Market Comment – Gold soars on virus risks, softer dollar; US data awaited

Posted on July 1, 2020 at 8:41 am GMT

Gold extends bull run amid growing virus fears and US-China tensions; softer dollar helps too Stocks mostly positive as global recovery appears on track, but rally showing some signs of fatigue Markets await US ISM manufacturing and jobs data for direction Gold sets sights on $1800/oz as pandemic here to stay The safe-haven gold was scaling fresh 7½-year highs above $1785/oz on Wednesday even as investors maintained the view that the economic recovery from the pandemic will be a V-shaped [..]

Daily Market Comment – Virus concerns cast aside as upbeat data boosts sentiment

Posted on June 30, 2020 at 8:38 am GMT

Stocks rebound as risk aversion eases on positive data from China and the US But virus worries linger as Australia and the UK impose local lockdowns Dollar heads higher, eyes Powell testimony and more US data Pound hammered by Brexit and virus woes Risk appetite improves on recovery optimism Hopes for a V-shaped recovery were bolstered after encouraging data out of the United States and China over the past 24 hours showed that the growth revival remains on track in [..]

Daily Market Comment – Virus resurgence haunts stocks but dollar edges lower

Posted on June 29, 2020 at 8:30 am GMT

Markets start week in risk-off mode as virus surge halts reopening plans in the US Stocks slip, but less cautious mood in FX markets as dollar and yen pull back Pound bounces off lows as Brexit talks enter intensive phase Virus fears keep Wall Street on the back foot Worries that the world could be in the midst of a second Covid-19 outbreak continued to weigh heavily on market sentiment as the second quarter almost draws to a close. Stocks [..]

How sterling became a ‘risk’ currency, and what’s next – Special Report

Posted on June 26, 2020 at 12:46 pm GMT

The British pound has become very sensitive to changes in risk sentiment lately, with Cable transforming into a ‘risk on’ – ‘risk off’ pair whose fortunes are connected more to stock market performance than UK fundamentals. As such, a better proxy for Brexit developments in this new era may be euro/sterling. Overall, downside risks seem to outweigh upside ones for the pound right now, especially given the resurgence of infections globally and intensifying Brexit uncertainty, though a powerful rebound later [..]

Week Ahead – NFP in focus as US virus cases spike, recovery in doubt

Posted on June 26, 2020 at 12:10 pm GMT

As the risk rally fizzles out amid rising concerns about a second wave of virus infections in the United States, the all-important jobs report has the capacity to either calm or scare jittery markets. With very few other top tier releases on the agenda next week, it’s hard to see anything other than the virus story driving investor sentiment. Special attention will be on the escalation of Covid-19 cases in the US and whether any states begin to reverse some [..]

Technical Analysis – GBPUSD may show some volatility; bears in favor

Posted on June 26, 2020 at 8:20 am GMT

GBPUSD has been making tiny steps within the 1.2400 area in the four-hour chart over the past two days, sending an early warning that some volatility, or a more noticeable move, may soon emerge in the market. Technically, there are several reasons to believe that a downside correction is more likely to occur. First, the price hit a strong wall in the crossroads of a support-turned-resistance trendline and a downward-sloping trendline on Wednesday and instead drifted lower, keeping the downtrend [..]

Daily Market Comment – Stocks jump into the green, but dollar doesn’t play along

Posted on June 26, 2020 at 8:06 am GMT

Investors ignore a litany of bad news, push stocks higher on deregulation hopes But FX retains a more cautious tone, dollar holds onto gains as US cases hit new record Texas and Florida “pause” their re-opening plans Rebalancing flows heading into quarter end could bite markets Stocks and dollar focus on different narratives The epic market battle between stimulus-driven bulls and virus-fearing bears seems set to end in a draw this week, as worries of a rapid resurgence in virus [..]

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