All Articles Tagged - GBPUSD

Daily Market Comment – Risk-on back in play as Fed goes overkill with stimulus

Posted on June 16, 2020 at 8:28 am GMT

Sell-off cut short as markets reminded Fed not done yet with stimulus Possible $1 trillion infrastructure plan by Trump further fuels stocks But will Powell spoil the party again as softer dollar eyes Fed chief’s testimony Pound outperforms after UK and EU agree to intensify Brexit talks Second wave, what second wave? It was a dramatic turnaround for Wall Street on Monday, with all three main indices wiping out earlier sharp losses to close with solid gains, as investors brushed [..]

Technical Analysis – GBPUSD up against restraining 200-day SMA

Posted on June 16, 2020 at 7:23 am GMT

GBPUSD yesterday found a foothold on the mid-Bollinger band presently at the 1.2461 level, that being the 50.0% Fibonacci retracement of the down leg from 1.3514 to 1.1410. The flattened 200-day simple moving average (SMA) at 1.2683 and the 61.8% Fibo of 1.2711 overhead (forming a vital resistance area) are obstructing upside price actions. The short-term oscillators endorse some improvement in price as does the strengthening slope of the 50-day SMA. The MACD in the positive region has moved back [..]

Daily Market Comment – Stocks slide again on second wave fears; Pound skids ahead of Brexit talks

Posted on June 15, 2020 at 8:42 am GMT

A resurgence of coronavirus cases sends stocks into a tailspin again Aussie takes a beating, yen and franc up, but gold unable to capitalize Pound extends losses as Johnson tries to kickstart stalled Brexit talks End of the risk rally? The unstoppable risk rally that’s pushed global stocks close to erasing their virus-led losses is in danger of faltering as fears of a second wave of infections intensify. Several states in America have seen a large increase in the number [..]

Week Ahead – BoE and Brexit could create perfect storm for pound; BoJ and SNB meet too

Posted on June 12, 2020 at 12:49 pm GMT

An upcoming summit of EU leaders could decide the fate of the European recovery fund and the direction of Brexit talks, setting up possible stumbling blocks for the euro’s and pound’s rebounds. The pound will also be keeping an eye on the Bank of England’s policy meeting, with more QE looking likely. The Bank of Japan’s and Swiss National Bank’s respective meetings are not expected to be as exciting. But as some of the recent optimism starts to fade, it [..]

How the stock market took over the FX market – Special Report

Posted on June 12, 2020 at 12:42 pm GMT

Once upon a time in a pre-covid world, the currency market and the stock market were driven by different factors. Correlations between the two existed of course, but they were limited to a few pairs, like dollar/yen. Nowadays though, it feels like every FX chart is linked directly to risk sentiment and equity market performance, instead of cross-country fundamentals. What changed, and what would a stock correction from the current heights imply for the FX market? The dollar: A [..]

Technical Analysis – GBPUSD tries to overcome 1.2640 roof; still bullish

Posted on June 12, 2020 at 10:50 am GMT

GBPUSD is trading around the vicinity of 1.2640, that being the 23.6% Fibonacci retracement of the upward wave from 1.2075 to 1.2815 and where the red Tenkan-sen line currently lies. The price is eating a portion of its last sessions’ losses but the RSI and the MACD are consolidating in the negative areas avoiding giving any signals in the short term. Still, the market seems to be well supported by the Ichimoku cloud and the 38.2% Fibonacci of 1.2532. If [..]

Daily Market Comment – Markets plummet as second wave fears grip investors

Posted on June 12, 2020 at 8:02 am GMT

Worries of a second infection wave kill the euphoria in markets S&P 500 loses almost 6%, dollar and yen shine again, commodity currencies crumble But risk sentiment back on the mend Friday, with most moves retracing a little Just a mild correction or start of something bigger? Daily virus numbers might decide that Risk aversion returns with a vengeance Just when it seems that all the bears have capitulated and that stock markets can’t bleed anymore, risk sentiment falls apart [..]

Flurry of UK data eyed, can the pound keep going? – Forex News Preview

Posted on June 11, 2020 at 10:21 am GMT

A flurry of UK data including GDP numbers for April will hit the markets at 06:00 GMT on Friday, and forecasts point to abysmal readings. Yet, economic data hardly move the markets anymore, so the pound’s performance will likely be shaped by a combination of Brexit news and global risk sentiment. The risks surrounding the currency seem tilted to the downside, though any potential losses may be more visible against the resurgent euro, not so much against the dollar that’s [..]

Daily Market Comment – Fed walks the dovish line, but markets want more

Posted on June 11, 2020 at 8:16 am GMT

Fed commits to rock bottom rates for years, reaffirms ‘whatever it takes’ stance Dollar drops initially and stocks jump, but moves reverse as Powell doesn’t commit to yield curve control Markets in risk-averse mood overall Thursday, worrisome US virus numbers not helping Today: Eurogroup meeting on recovery fund and US jobless claims Fed says the right things, but markets left wanting As expected, the Federal Reserve took no action yesterday, signaled via its ‘dot plot’ of interest rate projections that [..]

Daily Market Comment – Nasdaq rips higher ahead of Fed decision, dollar in agony

Posted on June 10, 2020 at 8:06 am GMT

No action expected from Fed today, but signals will determine whether the ‘risk party’ can keep going Dollar extends losses ahead of rate decision, Nasdaq hits new record high Sinking greenback raises all other boats – euro, pound, franc, and commodity currencies near highs We’ll also hear from key ECB and BoE officials, and the EU’s top Brexit negotiator Markets take a breather ahead of the Fed Risk appetite cooled a little on Tuesday in a move that generally looked [..]

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