All Articles Tagged - GBPUSD

Market Comment – Dollar tumbles as Fed still sees three rate cuts this year

Posted on March 21, 2024 at 9:16 am GMT

Fed’s updated dot plot continues to suggest three rate cuts in 2024 Dollar tumbles across the board, June cut probability rises Pound traders lock gaze on BoE, SNB cuts interest rates S&P 500, Dow Jones and gold hit new record highs Dollar falls on dovish Fed The US dollar tumbled across the board on Wednesday after the Fed’s new projections revealed that officials are still expecting three quarter-point rate cuts in 2024. The greenback has been in a recovery mode [..]

Market Comment – Dollar rises as Fed enters spotlight, yen plummets

Posted on March 20, 2024 at 8:56 am GMT

US dollar gains as traders brace for hawkish Fed Yen tumbles despite BoJ’s historic decision Loonie slides on cooler than expected Canadian inflation Wall Street gains ahead of Fed, oil extends advance Will the Fed revise its dot plot higher? The US dollar traded higher against its major counterparts yesterday, gaining the most versus the yen, the kiwi and the loonie in that order. The greenback continued trading on the front foot today as well. The buying of the dollar [..]

BoE policy meeting: Don’t expect fireworks – Preview

Posted on March 19, 2024 at 11:02 am GMT

Bank of England to retain the same policy stance Q2 data could be more valuable for next decision making What happened last time In its February policy meeting, the Bank of England (BoE) emulated the Federal Reserve by exploring rate cuts, ultimately deciding to maintain interest rates at 5.25%, their highest level in 16 years, with a 6-3 majority vote. Two policymakers voted for a rate hike but surprisingly, one policymaker raised his hand for a quarter-percentage point rate [..]

Market Comment – BoJ hikes, scraps yield curve control, but yen slumps

Posted on March 19, 2024 at 10:08 am GMT

BoJ ends negative rates and yield curve control in historic move But yen can’t catch a break as Ueda signals ongoing accommodative stance Aussie also under pressure as RBA tones down tightening bias Dollar resumes climb before Fed comes into the limelight BoJ ditches most stimulus-era policies As had been widely speculated, the Bank of Japan announced an end to eight years of negative interest rates and sharply scaled back its asset purchases after its policy meeting on Tuesday, in [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDCHF

Posted on March 19, 2024 at 9:58 am GMT

Major central bank meetings in the calendar this week Will the Fed meeting affect EURUSD? BoE decision will hold rates unchanged; GBPUSD retreats further SNB policy meeting may help USDCHF to rise Fed policy meeting –> EURUSD The focal point of this week appears to be the upcoming decision by the Federal Reserve on Wednesday, since the anticipation of a more accommodative monetary policy in the world’s largest economy has been driving the remarkable surge in the stock market recently. Rate reduction expectations have fluctuated significantly this [..]

Technical Analysis – GBPUSD retreats towards 50-day SMA

Posted on March 19, 2024 at 9:19 am GMT

GBPUSD generates fresh 2024 peak But declines sharply towards the 50-day SMA Momentum indicators weaken significantly GBPUSD has been stuck in a rangebound pattern since mid-November, unable to adopt a clear directional impetus. Although the pair exploded higher and posted a fresh seven-month high after conquering the 50-day simple moving average (SMA), it quickly reversed back within its neutral structure. Should bearish pressures persist, the pair could violate the 50-day SMA and challenge the March support of 1.2598, which lies very close [..]

Week Ahead – Five central banks: who will hike, who will not cut?

Posted on March 15, 2024 at 11:26 am GMT

Fed meets on Wednesday with focus on new dot plot Will the Bank of Japan finally end negative rates on Tuesday? BoE and RBA to stick with patience, SNB might be in more of a rush to cut Flash PMIs plus inflation data in the UK, Japan and Canada will also be crucial Fed decision: hoping for the best The upcoming week will undoubtedly be one of the busiest, not to mention the most important, of the year for investors [..]

Technical Analysis – GBPJPY ticks up from rising trend line

Posted on March 15, 2024 at 8:29 am GMT

GBPJPY recoups some of the losses RSI and MACD still show some weakness GBPJPY is recovering somewhat from the bearish movement that started from 191.30 and is following the direction of the ascending trend line. The market is also developing within the 20- and the 50-day simple moving averages (SMAs) with the technical oscillators showing some weakness in price. The RSI is flattening near the neutral threshold of 50, while the MACD is holding beneath its trigger line and above [..]

Technical Analysis – Will GBPUSD enter its range again?

Posted on March 14, 2024 at 1:50 pm GMT

GBPUSD eases from new 7-month high Technical oscillators suggest bearish retracement GBPUSD is losing more ground after it posted a a fresh seven-month high of 1.2890, breaking the medium-term trading range to the upside. But will the market return into that range again? Technically, the MACD oscillator is easing above its trigger and zero lines, while the RSI indicator is falling above the neutral threshold of 50. Should the market extend losses, support could be met between the 1.2785 support [..]

Market Comment – Investors lock gaze on US inflation data

Posted on March 12, 2024 at 9:22 am GMT

Dollar trades cautiously ahead of inflation numbers Yen pulls back on Ueda’s and Suzuki’s remarks Pound retreats but BoE still expected to cut rates after Fed S&P 500 and Nasdaq slide, Bitcoin hits new record high Dollar looks for direction in CPI data The US dollar traded higher against most of the other major currencies on Monday, but it is trading more cautiously today, recording noticeable gains only against the yen and the pound. It seems that trading is more [..]

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