All Articles Tagged - GBPUSD

Week Ahead – ECB, RBA, and BoC meetings ahead of nonfarm payrolls

Posted on May 29, 2020 at 1:08 pm GMT

The coming week is action-packed, with three central bank meetings, the resumption of critical Brexit talks, and the release of the US jobs report. The ECB looks primed to expand its QE program but paradoxically, that may not hurt the euro. Neither the Reserve Bank of Australia nor the Bank of Canada is unlikely to act – those currencies could be driven mainly by risk sentiment and US-China tensions. Meanwhile, although markets ignored scary economic data on the way down, [..]

Daily Market Comment – Stocks ease off ahead of Trump’s Hong Kong decision; dollar skids after Fed comments

Posted on May 29, 2020 at 8:18 am GMT

Stocks drift lower, yen edges up as markets await Trump’s response over Hong Kong But dollar hits 2½-month low on soaring euro and Fed hints of yield curve control Powell speech and US spending data also eyed later today Sino-US relations under strain Markets are bracing themselves for US President Trump’s press conference expected later today for his decision on what actions to take against China over Hong Kong. The Chinese parliament yesterday passed the controversial national security bill, which [..]

Technical Analysis – GBPUSD turns higher from 2-month low

Posted on May 29, 2020 at 7:51 am GMT

GBPUSD has been in ascending mode after the rebound on the two-month low of 1.2075, challenging the 1.2360 resistance level in the 4-hour chart. The technical indicators are currently proposing that the buying interest may continue as the 20- and 40-day simple moving averages (SMAs) are following, the price action and posted a bullish crossover in the preceding sessions. The MACD is surpassing the trigger line and is ready to strengthen its momentum, while the RSI seems to be stabilizing in the [..]

Daily Market Comment – Hong Kong tensions sink yuan but stocks yet to flinch

Posted on May 28, 2020 at 8:57 am GMT

Hong Kong’s special status with US under threat after Pompeo warning Yuan and Hong Kong shares under pressure but optimism prevails elsewhere Euro surges after European Commission proposes €750 billion rescue fund US and China heading for another clash Hong Kong looks set to lose the special status it enjoys with the United States on a range of areas, including trade, after US Secretary of State Mike Pompeo said the Trump administration no longer considers it to be autonomous from [..]

Daily Market Comment – Recovery hopes pull stocks higher as US-China row put aside

Posted on May 26, 2020 at 8:38 am GMT

Growth optimism drives equities higher as outlook brightens on lockdown easing Dollar slips on risk-on mood, pound and aussie shine But gold supported by lingering US-China tensions Stocks buoyed by economic reopening Global equities extended yesterday’s strong gains with Asian indices adding between 1-3% on Tuesday and European and US futures surging by 2%. The recovery theme continues to support risk assets as more businesses around the world are given the green light to reopen, fuelling hopes of a sustainable [..]

Technical Analysis – GBPUSD tests 50-day SMA; attempts to regain ground

Posted on May 26, 2020 at 7:29 am GMT

GBPUSD is currently up against the 50-day simple moving average (SMA) after pushing back over the 1.2213 level, that being the 38.2% Fibonacci retracement of the down leg from 1.3514 to 1.1410. Looking at the short-term oscillators, they display mixed signals in momentum. The MACD, though in the negative region and below its red signal line, looks to move back above it, while the RSI is creeping up towards its neutral threshold. However, the stochastic lines are somewhat in a [..]

Daily Market Comment – No panic but Hong Kong tensions keep markets on edge

Posted on May 25, 2020 at 8:59 am GMT

US threatens sanctions on China over Hong Kong security bill as tensions simmer But optimism from reopening of economies keeps risk aversion in check Euro and pound on the backfoot again as policy easing and political risks weigh US anger at China mounts; new cold war looming? US-China relations continued to sink to new lows as the US Senate rushed through legislation that would place tougher trading rules on Chinese-listed companies on American stock exchanges and after the White House [..]

Daily Market Comment – Hong Kong leads global markets lower as tensions spike

Posted on May 22, 2020 at 8:34 am GMT

Risk aversion deepens as China announces new security laws in Hong Kong Dollar and yen edge higher, global stocks sell off on fears of US retaliation Range breakouts rejected across multiple charts – S&P 500, euro, aussie, loonie Hong Kong sparks worries of new chapter in US-China tensions Global risk appetite crumbled on Friday, after China announced plans to establish an ‘enforcement mechanism’ for ‘safeguarding national security’ in Hong Kong. The news came hot on the heels of legislation to [..]

Daily Market Comment – Nasdaq charges higher, pound feels heat of negative rates

Posted on May 21, 2020 at 8:23 am GMT

Stocks defy economic gravity; Nasdaq closes in on record highs But markets more cautious Thursday, after Trump’s twitter storm vs China Pound rebound falters as BoE Governor doesn’t rule out negative rates Dollar finds its footing ahead of speeches by Fed’s top echelon Nasdaq approaches all-time high, but futures retreat Close your eyes and you wouldn’t know we are in the middle of a deep recession. At least not by looking at the Nasdaq 100 (+2%), which closed less than [..]

Daily Market Comment – Stocks trapped in ‘no man’s land’, but yen slides

Posted on May 20, 2020 at 8:32 am GMT

Equities pull back as vaccine doubts set in, still stuck in a range Yet broader FX market in a ‘risk on’ mood, yen bruised by BoJ news Bank of England speakers in focus today ahead of Fed minutes Markets look for another catalyst as vaccine rally falters The vaccine-powered euphoria that propelled stocks higher at the start of the week gave way to skepticism on Tuesday, as reports blasted the lack of data in Moderna’s vaccine study, stressing that the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

GBPUSD

XM Live Chat