All Articles Tagged - GBPUSD

UK budget could satisfy Tory voters; monthly GDP data may be shrugged off – Forex News Preview

Posted on March 10, 2020 at 3:29 pm GMT

UK GDP growth readings for January will be out on Wednesday at 09:30 GMT but the government’s budget may steal the show around 12:30 GMT as markets anticipate the new minister of finance to take actions against the deadly coronavirus outbreak. While the data may prove a weak market mover, the budget statement, although expected to come in less ambitious than some earlier reports suggested, may provide some floor to the pound if the government’s spending plans please the Tory [..]

Daily Market Comment – Markets calm down after the cataclysm, but for how long?

Posted on March 10, 2020 at 9:59 am GMT

Risk sentiment recovers on Tuesday, after a catastrophic Monday However, the rebound is relatively modest – a sign that concerns remain and that this may be a temporary calm Dollar stages a comeback, US Democratic primary continues today Yen pulls back, stocks recover on ‘turnaround Tuesday’ After a wild session on Monday that saw riskier assets crash and burn, with the S&P 500 plummeting a stunning 7.6% and crude oil sinking by nearly 25%, markets have calmed down somewhat today, [..]

Technical Analysis – GBPUSD retreats after climbing to 1.3200; still in bearish channel

Posted on March 10, 2020 at 7:44 am GMT

GBPUSD has been in a descending channel over the last three months as the 1.3200 handle seems to be a real struggle for the bulls. During yesterday’ session the pair posted an upside spike towards the upper boundary of the Ichimoku cloud and the channel but failed to exit the range. Technically, the price could lose some ground in the short-term as the RSI is changing direction to the downside and towards its 50 neutral mark, while the stochastics are warning over an overbought [..]

Daily Market Comment – Yen explodes higher, oil crashes as the OPEC+ wars begin

Posted on March 9, 2020 at 10:06 am GMT

Investors in panic mode as oil collapses, sending shockwaves through markets Global stocks plunge, commodity currencies flash crash, dollar in agony as markets price in more Fed cuts Japanese yen the main winner, gold briefly tops $1700, euro capitalizes Markets in mayhem as oil price war compounds virus fears It’s been a dramatic beginning to the week in financial markets, with risk aversion being the only game in town as the weekend saw the OPEC+ alliance come to an end, [..]

Week Ahead – Will the divided ECB underdeliver?

Posted on March 6, 2020 at 2:39 pm GMT

The main event next week will be the European Central Bank (ECB) policy meeting, where markets are pricing in a 90% probability for a rate cut even though economists forecast no action. It’s a close call, but the fragmented ECB may opt for more targeted lending measures to shield the economy from the virus fallout, not a rate cut. There’s also a raft of economic data coming up, alongside the UK government budget. All told, markets will continue to dance [..]

Daily Market Comment – Dollar and stocks sink on growing virus gloom; NFP may not help much

Posted on March 6, 2020 at 9:44 am GMT

Dollar and stocks take another battering as virus fears grip markets Investors continue to flock to safety, euro a surprise beneficiary US jobs report not expected to trim Fed rate cut expectations; OPEC eyed too No reprieve for dollar sell-off The US dollar extended its losing streak on Friday, skidding to two-month lows against a basket of currencies and 6-month lows versus the safe-haven yen. Contagion fears continue to spread panic in the markets as the number of coronavirus cases [..]

Daily Market Comment – Stocks bounce back but virus risks cap dollar gains

Posted on March 5, 2020 at 9:36 am GMT

US data, virus bill, Biden boost lift stocks but sentiment shaky as virus continues to spread Dollar rebound short-lived as more rate cuts expected BoC follows Fed and RBA in cutting rates; are ECB and BoE next? Oil steady as OPEC begins meeting to discuss output cuts Virus stimulus and US politics boost equities Stocks in the US surged overnight as government and central bank action in response to the coronavirus outbreak, as well as a change in fortunes in [..]

Technical Analysis – GBPUSD hovers above 4-month low with weak momentum

Posted on March 4, 2020 at 7:36 am GMT

GBPUSD has been trading lower over the last three months with weak momentum, reaching a new four-month low of 1.2725. The risk is still to the downside as the pair remains beneath the Ichimoku cloud and the 20- and 40-day simple moving averages (SMAs). The RSI indicator is flattening below the 50 level, while the MACD oscillator is holding below its trigger and zero lines. In the wake of more negative pressures, the market could meet support at the 50.0% [..]

Daily Market Comment – RBA cuts rates, G7 response awaited as virus panic grows

Posted on March 3, 2020 at 9:34 am GMT

RBA cuts rates, others expected to follow as virus cases show no sign of slowing G7 statement eyed as markets pin hopes on stimulus to combat outbreak Stocks bounce back on stimulus talk but doubts on commitment caps gains Yen and gold edge up, dollar mixed ahead of Super Tuesday RBA first to cut, others to follow? The Reserve Bank of Australia became the first major central bank to cut interest rates on Tuesday in response to the worsening outbreak [..]

Week Ahead – RBA and BoC meet: no virus stimulus yet; US jobs report also in focus

Posted on February 28, 2020 at 1:54 pm GMT

Central banks in Australia and Canada will hold policy meetings next week – the first since the outbreak of the coronavirus escalated into a global crisis. But with policymakers having limited firepower, they will probably maintain a wait-and-see approach until a clearer picture starts emerging about the impact of the virus, whose spread has multiplied several-fold in the past week. Investors will also be waiting anxiously for the latest nonfarm payrolls report out of the United States as they push [..]

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