All Articles Tagged - GBPUSD

Daily Market Comment – Markets lose altitude as virus fears escalate

Posted on June 25, 2020 at 8:42 am GMT

Reality bites stock markets as US virus spike accelerates, dollar recovers Threats of new US tariffs against EU and dire IMF forecasts not helping mood Fed balance sheet reduction may be playing a role too Daily virus numbers will continue to dictate sentiment Acceleration in infections hampers recovery prospects Risk aversion gripped global markets once again on Wednesday after several American states reported another worrisome spike in virus cases and hospitalizations, pouring cold water on the cheerful narrative of a [..]

Daily Market Comment – Gold flies to new highs, RBNZ talks kiwi down

Posted on June 24, 2020 at 8:10 am GMT

Dollar retreats after encouraging PMIs turbocharge euro Gold capitalizes on weaker dollar, reaches heights last seen in 2012 Stocks inch higher led by tech, despite US virus spike and rising bankruptcies RBNZ expresses discomfort with exchange rate, kiwi obliges Gold takes advantage of softer dollar Global markets continue to be torn between conflicting narratives, as signs that the world economy has entered the recovery stage – with a little help from a tsunami of stimulus – clash with a worrisome [..]

Daily Market Comment – White House sends markets spinning, European PMIs bolster euro

Posted on June 23, 2020 at 8:19 am GMT

Conflicting statements from White House on China send currencies and stocks for a wild ride But markets back to square one as dust settles, still in a good mood overall Nasdaq closes at new record as US virus cases ease back down European PMIs show France back in expansion, boost euro Navarro channels his inner China hawk, then walks it back Global markets went for a wild ride overnight, after White House trade advisor Peter Navarro – probably the administration’s [..]

Technical Analysis – GBPUSD develops in ascending channel in short term

Posted on June 23, 2020 at 7:42 am GMT

GBPUSD has been developing within an ascending channel over the last three months, hovering around the moving averages in the daily timeframe. The price started an upward move following the rebound on the 35-year low of 1.1409, remaining above the Ichimoku cloud, while the RSI is moving sideways near the 50 area. However, the MACD oscillator is heading south below its trigger line, confirming the recent downside movement. Should the market extend losses below the 50.0% Fibonacci retracement level of [..]

UK PMIs to recover further as economy reopens, but Brexit fears rattle pound – Forex News Preview

Posted on June 22, 2020 at 3:13 pm GMT

Preliminary PMI numbers for June will be watched out of the United Kingdom on Tuesday at 08:30 GMT. As the UK economy slowly emerges from the virus shutdown, the PMI gauges are anticipated to reflect the reopening of some businesses. But as Prime Minister Boris Johnson prepares to announce the latest phase of the lockdown easing, there are other things troubling the pound. A worsening stand-off between British and EU negotiators in the Brexit talks has derailed cable’s rebound, even [..]

Daily Market Comment – Investors grapple with the virus blues

Posted on June 22, 2020 at 8:08 am GMT

Markets struggle for direction as second wave worries intensify WHO reports record increase in global cases, Apple re-closes some US stores Gold spikes higher but FX and stocks still not overly concerned Looking ahead, the battle between stimulus-fueled optimism vs second wave concerns will drive sentiment Emotional rollercoaster continues With the correlation between FX and stock markets going through the roof in recent months as the dollar reclaimed its safe-haven throne, risk sentiment has become the dominant force in the [..]

Week Ahead – Juiced up markets wrestle with the virus blues

Posted on June 19, 2020 at 12:50 pm GMT

Markets will remain tuned to virus news in the coming week, as the battle between stimulus-fueled optimism and second wave fears rages on. The US virus count might be what tips the scales, not just for stocks but for currencies also, as risk appetite has become the dominant force in the FX arena now that the dollar is acting like a haven. Elsewhere, the RBNZ is unlikely to do or say much, while PMIs from around the globe will tell [..]

Daily Market Comment – Stocks drift, dollar holds firm amid growth, second wave worries

Posted on June 19, 2020 at 8:53 am GMT

Markets struggle for direction as persisting second wave fears weigh on sentiment US-China relations back in spotlight as Trump threatens to ‘decouple’ Pound steadier after hawkish surprise from BoE sends currency spinning lower Markets dogged by virus spike, recovery doubts Risk appetite is looking increasingly on borrowed time as stocks turn sideways, having lost momentum after last week’s sell-off. Global shares on Friday could only manage a tepid rebound from yesterday’s dip while gold headed higher amid ongoing worries about [..]

Technical Analysis – GBPUSD returns above 3-week low of 1.2400; still negative

Posted on June 19, 2020 at 7:45 am GMT

GBPUSD has declined considerably after touching a three-month high of 1.2815 on June 10, while during yesterday’s session it posted a fresh three-week low around the 1.2400 handle and is currently not far above that nadir. The flat Tenkan- and Kijun-sen lines serve as a testament to the possible upside retracement. The RSI indicator is suggesting a pullback in the very short-term as it is gaining some ground above the 30 level. On the other hand, the MACD is still [..]

Daily Market Comment – Dollar firms, stocks slip as spike in virus cases begins to cause worry

Posted on June 18, 2020 at 8:50 am GMT

Risk appetite wanes as markets start to take second wave fears more seriously Surge in cases in Beijing and US drive up dollar demand, weigh on stocks Pound weaker ahead of BoE decision; aussie and kiwi stumble on poor data Risk rally on pause as second wave threatens recovery A worrying increase in the number of new COVID-19 cases in several locations around the world appears to have put the brakes on the risk rally that just a few days [..]

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