All Articles Tagged - GBPUSD

Daily Market Comment – German ultimatum sinks euro, yen capitalizes

Posted on May 6, 2020 at 8:29 am GMT

Euro crumbles after German courts challenge ECB stimulus Outlook still bleak, this is the last thing the fragile Eurozone needs Stocks trim gains on Fed gloom and Congressional ‘pause’, yen climbs Today: ADP data will give a taste of what’s on Friday’s NFP menu Euro falls apart as Germany challenges ECB The single currency came under heavy fire yesterday, after Germany’s top court ruled that the ECB’s asset purchases were unconstitutional. The judges gave the European Central Bank three months [..]

Daily Market Comment – Wall Street snaps back, but FX not convinced

Posted on May 5, 2020 at 8:48 am GMT

US stocks bounce back on medical headlines, rising oil prices, tech strength But FX market signals caution – yen and dollar hold strong, gold too Are investors piling into tech because of re-opening fears and US-China tensions? Euro suffers after German court decision on ECB asset purchases Stock markets storm higher Wall Street continues to defy economic gravity, with all three major US stock indices recouping early losses on Monday to close higher, brushing aside the simmering tensions between Washington [..]

Technical Analysis – GBPUSD’s advances suppressed by stifling 200-day SMA

Posted on May 5, 2020 at 6:52 am GMT

GBPUSD is trading around the vicinity of 1.2462, that being the 50.0% Fibonacci retracement of the down leg from 1.3514 to 1.1410 and where the mid-Bollinger band currently lies. The pair failed on a second attempt to breach the overpowering flattened 200-day simple moving average (SMA), which has imprisoned the price for nearly a month between 1.2165 and 1.2646. Looking to the short-term oscillators, the MACD and the RSI promote slight improvements around their neutral marks, despite diminished directional momentum. [..]

Daily Market Comment – Specter of trade war returns to haunt stocks

Posted on May 4, 2020 at 8:39 am GMT

US stocks drop on Amazon earnings, fall further as US-China tensions flare up Finally discounting the long-term impact on consumption, psychology, and (de)globalization? Yen and dollar shine as risk aversion returns, aussie and kiwi suffer US-China tensions reintroduce stocks to gravity The stimulus-fueled bear rally in global stocks seems to be running on fumes, with optimism evaporating after some distressing remarks by Amazon cast doubt on the sustainability of this heavily concentrated market, and the US-China trade war came back [..]

Daily Market Comment – Trump reignites China feud; Stocks fall on data, ECB and earnings blows

Posted on May 1, 2020 at 8:49 am GMT

Markets go into risk averse mood as Trump threatens China with new tariffs Dire data, ECB inaction and mixed earnings further dent risk sentiment Liquidity thin due to May Day holiday; ISM manufacturing PMI coming up Trump’s tough on China rhetoric is back, spooks markets US President Donald Trump raised the prospect of fresh tariffs on China on Thursday as his administration seeks ways to retaliate against China’s handling of the COVID-19 outbreak. The virus has cost more than 60,000 [..]

Week Ahead – Nonfarm payrolls: The market’s trial by fire?

Posted on April 30, 2020 at 2:12 pm GMT

The serenity that has encompassed global markets lately will be put to the test next week, when America’s nonfarm payrolls data reveal how much destruction the pandemic has left in its wake. The Bank of England and the Reserve Bank of Australia are unlikely to deliver anything new at their meetings, though both will likely maintain a very dovish tone. Overall, the recent flood of liquidity and stimulus has helped stabilize markets, but ultimately, the V-shaped recovery that is now [..]

Daily Market Comment – Oil plunges again despite lockdown exits; gold down too

Posted on April 28, 2020 at 8:34 am GMT

Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]

Technical Analysis – GBPUSD upside risks in place but a potential reversal pattern also in focus

Posted on April 28, 2020 at 8:33 am GMT

GBPUSD is finding support around the 50-period simple moving average (SMA) on the four-hour chart and is pushing efforts to regain momentum within the 1.2400 area after a quiet start to the day. Additional gains cannot be ruled out in the short-term as the RSI is trying to break its recent range, while the MACD is strengthening at a gradual pace in the positive area. However, in terms of trend, a potential head and shoulders pattern seems to be in progress, sending a negative warning of [..]

Technical Analysis – GBPUSD undecided, mirroring loss in directional momentum

Posted on April 27, 2020 at 9:25 am GMT

GBPUSD although having pushed back above all simple moving averages (SMAs), appears rather flat between 1.2246 and the 1.2516 level, that being the 61.8% Fibonacci retracement of the down leg from the 1.3200 high to the 35-year low of 1.1410. The technical oscillators reflect a shortcoming in directional momentum by painting an unclear picture, with the SMAs tilting slightly negative and the pair finding difficulty to exhibit further improvements. The MACD is just below zero but above its red trigger [..]

Daily Market Comment – Dollar slips as lockdown easing spurs risk-on; BoJ ramps up stimulus

Posted on April 27, 2020 at 8:43 am GMT

Dollar pressured as euro, pound and aussie charge higher on possible relaxation of lockdowns Stocks edge higher too but oil plunges again Bank of Japan pledges unlimited QE; focus moves to Fed and ECB Light at the end of the lockdown tunnel? It was a buoyant start to the week as signs that the draconian lockdowns that have paralysed major economies around the world are about to be loosened lifted risk appetite. The US dollar, which has been the safe [..]

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