All Articles Tagged - GBPUSD

Week ahead – Markets set to quiet down, despite tug of trade war

Posted on August 9, 2019 at 12:00 pm GMT

It may be a quiet week in financial markets, with no central bank meetings or any other major events on the agenda, as the summer lull finally kicks in. Economic data will therefore attract most of the attention, though any tweets on the trade war or Brexit news could always stir things up. British data unlikely to be a game-changer for the pummeled pound The UK economy continues to feel the heat, with GDP growth contracting in Q2, as Brexit [..]

Daily Market Comment – Yen firms again as trade jitters return; euro and pound steady despite election talk

Posted on August 9, 2019 at 8:11 am GMT

Risk aversion spikes again on reports US won’t ease Huawei restrictions Safe havens remain supported, stocks falter Euro and pound unmoved by speculation of snap elections in Italy and the UK Bounce in risk appetite proves short lived as trade worries return Market sentiment turned sour again on Friday as trade tensions resurfaced after Bloomberg reported that the United States is delaying a decision on whether to allow some American companies to do business with China’s Huawei Technologies. President Trump [..]

British GDP data unlikely to rescue the Brexit-battered pound – Forex News Preview

Posted on August 7, 2019 at 1:51 pm GMT

The first estimate of UK GDP for Q2 is due at 08:30 GMT on Friday, with forecasts pointing to a stagnation in growth. If confirmed, that could raise the pressure on the BoE to abandon its tightening plans soon. As for the pound, the outlook remains negative as long as PM Johnson plays ‘chicken’ with Brussels, threatening a no-deal Brexit to extract concessions. For the tide to turn, markets may need signals for a General Election, which won’t come for [..]

Daily Market Comment – Kiwi plunges on shock RBNZ cut; stocks sell-off eases on Kudlow remarks

Posted on August 7, 2019 at 8:18 am GMT

New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]

Daily Market Comment –Yuan steadies after US brands China currency manipulator; stocks slide again

Posted on August 6, 2019 at 8:18 am GMT

Yen and Swiss franc retreat after yuan steadies as US labels China a currency manipulator Global stocks extend slide as US-China tensions continue to heat up Aussie and kiwi firmer as RBA keeps rates on hold, RBNZ coming up next Euro perks up but pound under pressure Yuan off lows on PBOC midpoint The risk-off moves engulfing currency markets since President Trump’s decision last Thursday to slap more tariffs on Chinese goods eased on Tuesday with the help of a [..]

Technical Analysis – GBPUSD stable near 31-month lows; bears may keep upper hand

Posted on August 6, 2019 at 7:35 am GMT

Last week’s aggressive downfall to a 31-month low of 1.2078 turned GBPUSD players indecisive, with the price sliding sideways within the narrow 1.21-1.22 boundaries and well below moving averages afterwards. Speculations for an upside correction are rising as the fast-Stochastics continue to head north after printing a bullish cross below the 20 oversold mark. The RSI, which hovers around its own 30 oversold level is also suggesting a price reversal. Still, should the MACD show no sign of improvement in coming sessions, [..]

Daily Market Comment – Yen and gold soar; yuan sinks as trade war savages markets

Posted on August 5, 2019 at 8:25 am GMT

Safe havens such as the yen and gold surge as heated trade tensions extend broad sell-off in risk assets Yuan breaks past 7 per dollar level as PBOC gives green light to a weaker currency US dollar mixed as Fed rate cut expectations rise again Market rout deepens, yen rallies The fallout from the latest escalation in the US-China trade dispute continued to be felt across financial markets on Monday as investors sold off stocks and emerging market currencies [..]

Week Ahead – RBA and RBNZ to keep up rate-cut rhetoric; UK and Japan to post Q2 GDP

Posted on August 2, 2019 at 1:32 pm GMT

It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out of Canada too. The highlight for the United Kingdom and Japan will be GDP growth numbers for the second quarter, and in China, the monthly trade and inflation releases will [..]

Daily Market Comment – Stocks sink as Trump escalates trade war; US payrolls due

Posted on August 2, 2019 at 8:00 am GMT

Equities plunge, yen skyrockets as trade war fears heighten Nonfarm payrolls may present a one-sided risk for the dollar today Chance of UK General Election rises as Johnson’s working majority slips Risk aversion takes over markets as Trump threatens new tariffs American equities erased some early gains to close about 1% lower yesterday, after the US President took the trade war with Beijing to the next level – announcing that he will impose a 10% tariff on all remaining products [..]

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:03 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

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