All Articles Tagged - GBPUSD

Daily Market Comment – Dire US data send stocks spinning, dollar flying higher

Posted on April 16, 2020 at 8:39 am GMT

Fears of global economic slump heightened after dreadful US data Flight to safety hammers stocks, lifts dollar Talk of easing lockdowns fails to comfort markets Markets spooked as gloomy predictions start to turn to reality Reality has come back to bite the markets, taking the steam out of the relief rally in stocks, as investors grapple with the prospect of economic devastation from the virus pandemic. Data released in the United States on Wednesday showed a record slump in retail [..]

Daily Market Comment – Stocks under pressure amid growth jitters; dollar off lows

Posted on April 15, 2020 at 8:36 am GMT

Uncertainty about growth outlook resurfaces after IMF warning, weighing on stocks Dollar pulls higher as risk aversion sets in US earnings and retail sales data could make for a rocky ride Stocks muted as growth jitters return Equity markets were struggling for momentum on Wednesday as the IMF’s latest economic forecasts served as a reminder to investors that the virus crisis will take a heavy toll on the global economy. In its April report, the IMF projected that the global [..]

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:23 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Technical Analysis – GBPUSD bulls return to the game; approach a tougher barrier

Posted on April 14, 2020 at 7:41 am GMT

GBPUSD terminated its range bound trading on Monday after the wall around the 1.2460 level, which is also the 50% Fibonacci of the downleg from 1.3513 to 1.1409, collapsed, giving the lead to the bulls. Subsequently, the price strengthened towards the 50-day moving average (SMA) which is currently under examination, with the momentum indicators suggesting that the battle at this point may be an easy one. The RSI is holding a positive slope above its 50-neutral mark, the red Tenkan-sen [..]

Daily Market Comment – OPEC cuts, but oil and stocks don’t ‘buy it’

Posted on April 13, 2020 at 8:18 am GMT

OPEC+ agrees to an almost 10 million barrels/day supply cut Oil opens higher, but surrenders most gains as compliance doubts set in Stocks turn red, yen and gold inch higher in holiday-thinned trading OPEC cuts, but oil can’t stay afloat The world’s biggest oil producers finalized a historic deal to cut their production over the weekend, in an attempt to stabilize a market that has been ravaged by collapsing demand. After a few hiccups with Mexico, OPEC and its allies [..]

Week Ahead – China to reveal virus damage on GDP as markets cling onto optimism

Posted on April 10, 2020 at 11:57 am GMT

As much of the world is stuck in a lockdown, one country where life has started to return to normal will shed some light on the toll of the virus outbreak on its economy as China reports GDP growth estimates. The data could either spread misery or provide a glimmer of hope to those countries still heavily stricken by the coronavirus. US indicators will also be scrutinized as March numbers for retail sales and industrial production are released. But aside [..]

Daily Market Comment – Fed lifts stocks, sinks dollar, turbocharges gold

Posted on April 10, 2020 at 8:31 am GMT

Fed goes ‘all in’ – unveils new $2.3 trillion lending program Stocks climb, dollar drops, and gold goes into overdrive But are markets realistic about the long-term damage? Oil falls after OPEC deal disappoints in size and scope Fed pulls out all the stops to cushion economy, stocks smile The US central bank rode to the rescue once again on Thursday, rolling out a gigantic $2.3 trillion lending package to help smaller and medium sized businesses as well as local [..]

Technical Analysis – GBPUSD stalls, struggling to revive the ascent from the 35-year low

Posted on April 10, 2020 at 8:11 am GMT

GBPUSD seems to be unable to break out of the two-week consolidation phase of 1.2165 to 1.2485. The recent price action up from the 1.2165 level appears to have lost its positive backing as indicated by the short-term oscillators, which paint a picture of diminished positive momentum. Despite the gradual rise of the RSI in the bullish region, the MACD, hovers slightly above its red trigger line and the zero mark. Moreover, the stochastic %K and %D lines have faded [..]

Daily Market Comment – Oil firms as OPEC hypes deal, stocks cheer

Posted on April 9, 2020 at 8:20 am GMT

Hopes for a production-cut deal by OPEC today catapult oil higher Deal will likely get done, yet any positive reaction in oil may be short lived Stocks climb with crude, but watch out for US jobless claims today Euro will stay tuned to the Eurogroup meeting – are Eurobonds on the menu? Oil jumps on signs a deal is near, but caution warranted The energy market has come back into the spotlight ahead of the meeting between OPEC and Russia [..]

Pound wobbles but steadier as Johnson still in intensive care – Forex News Preview

Posted on April 8, 2020 at 3:03 pm GMT

The pound has bounced back from the lows it brushed soon after news broke that the UK prime minister, Boris Johnson, has been moved to intensive care a day after being hospitalized for continuing to show symptoms of the coronavirus. Johnson spent a second night in intensive care on Tuesday but the latest is that his fever has eased, meaning the pound’s immediate downside risk has also subsided. However, with the prospect of the prime minister being out of action [..]

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