All Articles Tagged - GBPUSD

Daily Market Comment – Dollar edges up, stocks muted in cautious start to week

Posted on March 30, 2020 at 8:32 am GMT

Stocks steady somewhat after Friday’s dip Dollar heads higher after worst week since 2009 Oil skids again; Brent hits 17-year low as world economy shuts down US stock futures attempt to rebound; risk of increased volatility Wall Street was unable to extend its winning streak to a fourth day on Friday but still managed to post its strongest week since 2009. Stocks had been steadily rising after a big gap lower at the open but went into reverse after the [..]

Daily Market Comment – Stocks rally despite recessionary US data, is the bottom in?

Posted on March 27, 2020 at 8:49 am GMT

US jobless claims signal the economy is in recession, but stocks gain ~6% Is this the beginning of a new uptrend, or just a bear market rally? In FX, dollar continues to sink as liquidity pressures ease, but yen stays in demand Markets shrug off horrible US jobless numbers A record-shattering 3.3 million Americans filed for unemployment benefits last week, more than quadrupling the previous record and providing the clearest indication to date that the US is headed for a [..]

Technical Analysis – GBPUSD finds strong wall near 1.2300; bullish correction on the cards

Posted on March 27, 2020 at 8:46 am GMT

GBPUSD looks to be creating a floor above the Ichimoku cloud and slightly below the 50.0% Fibonacci retracement level of the downward wave from 1.3200 to 1.1409, near 1.2307. The bullish crossover of the 20- and 40-period simple moving averages (SMAs) is confirming the recent upside correction in the 4-hour chart after the aggressive dive towards the 35-year low of 1.1409. Technically, the RSI indicator is turning slightly lower after it visited the 70 level in the near-term and the [..]

Pound at 35-year low as Brexit leaves UK more exposed to global risks – Special Report

Posted on March 26, 2020 at 12:26 pm GMT

The pound is not usually synonymous with risk-sensitive currencies. That label is commonly used to describe commodity-driven currencies such as the Australian and Canadian dollars that move in tandem with global risk sentiment. But with the United Kingdom now formally having left the European Union, Brits could not have picked a worse time to ‘go it alone’. It’s no wonder therefore that at a time of heightened risk aversion, traders have been dumping the pound for safer investments, pushing it [..]

Daily Market Comment – US jobless data: A trial by fire for markets

Posted on March 26, 2020 at 8:59 am GMT

US jobless claims today will reveal how much economic damage the virus has already inflicted Make or break moment for stocks – a worse than feared number could quash the recent recovery Yen leads, aussie lags as risk aversion slowly creeps back into markets US jobless data could derail the latest recovery Economic data finally comes back into the spotlight today, as the number of Americans filing for unemployment benefits last week will give us a taste of just how [..]

Daily Market Comment – Stocks roar back as Congress reaches deal on rescue package

Posted on March 25, 2020 at 9:50 am GMT

Global stocks rebound sharply as Democrats and Republicans agree on $2 trillion stimulus package But has the market truly bottomed, or is this another dead cat bounce? In FX, risk-taking is back; commodity currencies recover as dollar and yen retreat Is gold turning the corner? Epic turnaround for stocks Global markets staged a heroic recovery on Tuesday. The Dow Jones climbed almost 11.4% to record its strongest day since 1933 as investors took heart that the US Congress would [..]

Daily Market Comment – Fed drops hydrogen bomb on markets, wounds dollar

Posted on March 24, 2020 at 9:53 am GMT

Dollar inches down as Fed goes all out, announces unlimited QE and expands purchase universe Wall Street closes lower, unimpressed by Fed – but set to recover today as Congress moves closer to a deal In broader FX market, the retreating dollar lifts all other boats Fed drops equivalent of hydrogen bomb on markets The Federal Reserve went ‘all in’ yesterday, promising to buy unlimited amounts of Treasury bonds and mortgage backed securities (MBS) to stabilize financial markets and negate [..]

Technical Analysis – GBPUSD seems to be looking for recovery after 35-year lows

Posted on March 24, 2020 at 7:57 am GMT

GBPUSD has been consolidating losses since the day it plunged to a 35-year low of 1.1409, unable to close above the 1.1675 barrier too. The momentum indicators, though, are currently encouraging that the sell-off may have found a bottom and the pair may be pushing for some recovery. The RSI and the Stochastics are pointing up and are ready to leave the oversold zone, while the MACD seems to be stabilizing in the negative area, and in Ichimoku indicators, the blue Kijun-sen has also paused its downside move. [..]

UK PMIs to fall only moderately but concerns mount over outlook – Forex News Preview

Posted on March 23, 2020 at 4:35 pm GMT

The preliminary PMI report for March is due to be released in the United Kingdom on Tuesday at 09:30 GMT and February numbers for inflation and retail sales will follow on Wednesday and Thursday, respectively, at the same time. With data for February now considered inconsequential given the unfolding situation with the coronavirus crisis, all the attention will be on the March business surveys as they will be the first indicators to shed some light on the extent of the [..]

Week Ahead – Emperor dollar reigns supreme amid market apocalypse

Posted on March 20, 2020 at 1:45 pm GMT

The virus pandemic continues to wreak havoc on the global economy and financial markets. Stocks are in freefall, commodity currencies are getting hammered, and even safe havens like gold can’t shine as the market meltdown is forcing major funds to deleverage by ‘selling everything’. In this panicky environment, investors are unlikely to pay much attention to economic data, though the US initial jobless claims might be an exception. The big winner from all the chaos is the greenback, which has [..]

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