All Articles Tagged - GBPUSD

Daily Market Comment – Oil, gold up on Middle East tensions; dollar steady ahead of US retail sales

Posted on June 14, 2019 at 8:03 am GMT

Brent crude extends gains following tanker attack in Gulf of Oman; gold lifted too Dollar heads for weekly gains as US retails sales and Fed meeting eyed Aussie and kiwi sag on growing rate cut bets Oil jumps on renewed tensions in Middle East Market sentiment was mixed on Friday as ongoing trade uncertainty and a flare up in Middle East tensions were partly offset by growing expectations that the Fed will come to the rescue of a weakening economic [..]

Daily Market Comment – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

Daily Market Comment – Dollar drifts lower ahead of US inflation data; euro edges up on Trump tweet

Posted on June 12, 2019 at 8:17 am GMT

US dollar drifts lower as markets await US inflation data for Fed rate clues Stocks turn negative as Trump says he’s “holding up the deal” with China Euro eyes fresh highs, gets a lift from Trump’s currency comments Risk appetite fades as US-China deal looking unlikely at G20 US stocks ended their five-day winning streak as hopes that the US and China would still be able to get the trade negotiations back on track at the G20 summit fast dwindled. [..]

Daily Market Comment – Relief rally on Mexico deal continues; stocks and dollar advance

Posted on June 11, 2019 at 8:19 am GMT

Markets extend relief rally following US-Mexico deal that averted tariffs on Mexican imports Dollar and stocks edge higher, but gains capped amid doubts about Trump-Xi meeting at G20 Pound slips on GDP contraction; unable to find much support from hawkish BoE comments Risk appetite recovers further after US-Mexico truce The US dollar continued to edge higher on Tuesday, lifted by recovering Treasury yields as demand for safe-haven government bonds ebbed after President Trump struck a deal with Mexico over illegal [..]

Technical Analysis – GBPUSD weakens below 20-day SMA; next support 1.2600

Posted on June 11, 2019 at 6:43 am GMT

GBPUSD failed several times to jump above the 20-day moving average and the 23.6% Fibonacci retracement level of the downward wave from 1.3380 to 1.2560, near 1.2753, suggesting weak momentum in the daily timeframe. The negative to neutral bias in the near term is supported by the deterioration in the momentum indicators. The %K line of the stochastic oscillator has fallen sharply below the overbought zone, while the RSI indicator is flattening in the negative territory. The 1.2600 psychological level has [..]

Daily Market Comment – Dollar bounces back from soft jobs report on Mexico-US migrant deal

Posted on June 10, 2019 at 8:22 am GMT

Risk appetite recovers after the US unexpectedly suspends planned tariffs on Mexico indefinitely US dollar and global stocks boosted but Fed rate cut bets remain high following weak NFP report Disappointing Chinese data also limits risk-on as yuan hits fresh 2019 lows Markets lifted by surprise US-Mexico deal It was a positive start to trading on Monday as markets were greeted by some rare good news. President Trump unexpectedly suspended tariffs on all Mexican imports indefinitely late on Friday as [..]

UK GDP growth and jobs data key events to watch – Forex News Preview

Posted on June 7, 2019 at 2:36 pm GMT

The pound is expected to have a busy start to next week as the latest update on UK GDP growth and industrial production will hit the markets on Monday at 0830 GMT, while on Tuesday at the same time employment data will provide another insight into the British economy. The stats however may not be as promising as in the previous release. In the first quarter, the fear of a disorderly Brexit at the end of March forced companies to [..]

Week Ahead – Busy data week for China, UK and US; SNB meets amid appreciating franc

Posted on June 7, 2019 at 11:38 am GMT

As the global growth outlook darkens again, traders will be paying attention to the slew of data that’s expected out of China, the United Kingdom and the United States next week for clues on how major economies are withstanding the increased trade uncertainty. Important indicators are also due from Australia and Japan, while the Eurozone will be enjoying a quieter few days. As central banks around the world switch to a more accommodative stance, the Swiss National Bank could be [..]

Daily Market Comment – Stocks buoyed by hopes of US-Mexico deal; dollar crawls higher ahead of NFP

Posted on June 7, 2019 at 8:30 am GMT

Markets hopeful the US and Mexico can reach a deal on migration to avert tariffs Dollar inches higher ahead of May nonfarm payrolls report Euro firmer after ECB meeting as Draghi fails to provide strong easing signals Optimism about US-Mexico talks lifts markets Global stock indices were headed for weekly gains as expectations that the US Federal Reserve and other central banks around the world would soon cut interest rates to counter the damaging impact of rising trade tensions lifted [..]

Daily Market Comment – Stocks rally on Powell boost, dollar sinks further

Posted on June 5, 2019 at 8:20 am GMT

Global stocks receive a major boost from Fed’s Powell after he opens the door to a rate cut But rising rate cut expectations pull the US dollar to fresh lows Aussie extends gains despite weaker-than-expected GDP growth Stocks surge after Powell’s comments Fed Chairman Jerome Powell paved the way for a rate cut on Tuesday, in his first remarks since the collapse of the US-China trade talks. Speaking at a Fed event in Chicago, Powell referred to the recent spike [..]

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