All Articles Tagged - GBPUSD

Daily Market Comment – RBNZ flags negative rates, Powell expected to do opposite

Posted on May 13, 2020 at 8:42 am GMT

Kiwi plunges after RBNZ signals negative rates are an option But Fed’s Powell unlikely to embrace negative rates in upcoming speech Warnings of second virus wave hit stocks RBNZ could be next to tiptoe into negative rates The New Zealand dollar fell about 1% on Wednesday after the Reserve Bank of New Zealand doubled its bond buying plan at its policy meeting today and gave its clearest indication yet that negative interest rates could become “an option in future”. As [..]

UK economy set for big contraction as Johnson’s lockdown policy descends into chaos – Forex News Preview

Posted on May 12, 2020 at 10:28 am GMT

It will be the UK’s turn next to post dire economic output figures as the coronavirus leaves no country spared. First quarter GDP estimates are due on Wednesday (06:00 GMT) and they will likely only be a taste of what to expect in the second quarter. With Britain resisting the urge to relax social distancing measures too significantly, the economic costs of containing the virus outbreak are mounting, clouding the outlook for the pound. Q1 GDP drop just the beginning [..]

Daily Market Comment – Fed talks down negative rates, dollar likes it

Posted on May 12, 2020 at 8:26 am GMT

Dollar jumps as Fed officials downplay prospect of negative rates in the US Stocks slip as growing fears of second wave of infections weigh on sentiment Central banks in focus: more Fed speakers on the way, RBNZ decision awaited US yields rise as negative rate expectations fade The US dollar held onto its gains on Tuesday after surging yesterday on the back of rising Treasury yields. The yield on two- and five-year Treasury notes hit record lows on Friday as [..]

Technical Analysis – GBPUSD double top formation at 1.2640; neutral bias

Posted on May 12, 2020 at 6:49 am GMT

GBPUSD appears to have posted a double top at the 1.2640 resistance and any violation beneath the 38.2% Fibonacci retracement level of the down leg from 1.3515 to 1.1409 at 1.2212, could confirm the pattern, shifting the bias back to bearish. In terms of momentum indicators, the MACD oscillator is endorsing the neutral outlook in the daily timeframe, while the RSI is approaching the horizontal 50 neutral level. Noteworthy, the price is trading within the 20- and 40-day simple moving averages (SMAs) [..]

Daily Market Comment – Dollar and stocks crawl higher but markets on alert amid virus spike

Posted on May 11, 2020 at 8:33 am GMT

Dollar gains versus yen, stocks edge up as lockdown easing spurs bets of economic rebound But fears of second virus wave keep risk appetite in check, gold ticks higher Doubts about Trump’s commitment to US-China trade deal adds to subdued tone Safe-haven yen takes a tumble as more economies reopen The US dollar appeared to lose some of its safe-haven allure on Monday as signs of economic life in many parts of the world shifted the focus to the improving [..]

Technical Analysis – GBPUSD creates ascending triangle in near-term; slightly bullish

Posted on May 8, 2020 at 10:14 am GMT

GBPUSD is in the process to creating an ascending triangle pattern with strong resistance the 1.2640 barrier and a rising trend line, which starts from the low on April 7. The pair rebounded on 1.2265 in the preceding sessions and is now flirting with the 20-period simple moving average (SMA) in the 4-hour chart. Turning to the technical indicators, the RSI has pulled back from the 50 level and returning lower, while the MACD keepS flattening below its zero line [..]

Week Ahead – RBNZ may increase QE; Aussie, UK and US data to deepen that sinking feeling

Posted on May 8, 2020 at 9:48 am GMT

There can be no hiding from the awful economic data that is now pouring in from all angles as we move well into the second quarter. Australian jobs, UK Q1 GDP, and US retail sales and inflation numbers will be the next key releases to showcase the virus turmoil. But amid growing optimism about the pandemic easing, the Reserve Bank of New Zealand will likely err on the side of caution at its policy meeting, posing a downside risk for [..]

Daily Market Comment – Stocks soar ahead of worst NFP ever on bets Fed will go negative

Posted on May 8, 2020 at 8:04 am GMT

US nonfarm payrolls today will be a horror show, but will markets care? Stocks set for more gains on trade news and bets Fed will cut to negative Dollar and yen retreat amid risk-on mood, but losses limited Commodity currencies climb, loonie eyes its own jobs report Worst nonfarm payrolls ever, by far The disconnect between sanguine financial markets and an imploding real economy grows larger by the day, as bets for more and more stimulus are leading Wall Street [..]

Daily Market Comment – Yen smiles as stocks struggle for direction

Posted on May 7, 2020 at 8:48 am GMT

Yen and dollar shine amid dire US and EU data, trade tensions, bankruptcy fears Stocks close lower, but solid Chinese trade numbers lift futures and aussie Pound perks up after BoE keeps stimulus powder dry, but risks linger US jobless claims on the menu today; can equities continue to defy gravity? Yen and dollar stand tall as traders weigh risks Stock markets have been partying like central bankers invented a virus vaccine in recent weeks, but some realism may be [..]

BoE policy meeting: Quarterly forecasts could steal the limelight – Forex News Preview

Posted on May 6, 2020 at 2:04 pm GMT

The Bank of England’s new governor Andrew Bailey will brief markets about the central bank’s policy decision and announce his first quarterly economic projections on Thursday at 06:00 GMT, earlier than the usual timing in order to comment on the interim Financial Stability report as well. Having deployed big stimulus firepower in previous meetings, the bank could stand pat this week, with markets turning attention to growth forecasts after warnings of a painful contraction in Q2. A speech by the [..]

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