All Articles Tagged - GBPUSD

UK Services PMI could dampen pound volatility – Forex News Preview

Posted on June 4, 2019 at 10:14 am GMT

The past four weeks have been the hardest so far this year for the British pound but also for UK manufacturers, the IHS Markit/CIPS readings showed on Monday. According to analysts, the survey for the services sector might bring better results on Wednesday at 0830 GMT. Still, the outcome may not be very pleasing, reflecting the disruptions from the Brexit paralysis. In the first quarter of 2019, the British economy expanded at the fastest rate in more than a year as [..]

Technical Analysis – GBPUSD recoups losses but downside risks not faded yet

Posted on June 4, 2019 at 7:24 am GMT

GBPUSD switched to recovery mode after bottoming to a five-month low of 1.2558 on Friday. With the RSI strengthening above its 30 oversold level and the MACD surpassing its red signal line, the pair may gain further ground in the short-term. Yet downside risks remain as long as the indicators hold in bearish territory. Note that the market has violated its December upward pattern after the drop below 1.2864. Immediate resistance to upside movements could emerge around 1.2750 but a closing price above 1.2770 – the 61.8% Fibonacci of [..]

Daily Market Comment – Dollar steadies after slump, yen holds firm as recession fears mount

Posted on June 3, 2019 at 8:19 am GMT

US dollar manages to stabilize after Friday’s slump but Treasury yields tumble to fresh lows US-China ties continue to deteriorate but some hope for deal with Mexico Aussie defies gravity, climbs to 3-week highs on upbeat data Dollar off lows but remains weighed by recession risks Markets were mired in a risk-averse theme on Monday as there was little prospect of the United States and China ending their worsening trade row. In fact, relations between the two global powers hit [..]

Week Ahead – RBA and ECB meetings in focus; US jobs report eyed amid runaway dollar

Posted on May 31, 2019 at 10:47 am GMT

As the US dollar heads for fresh two-year highs, next week’s nonfarm payrolls report could be key in deciding whether the dollar’s persistent strength will hold out for much longer. The Australian dollar will also be under the spotlight as the country’s central bank could make its first rate cut in three years. The European Central Bank will meet too as the Eurozone struggles to escape the dark clouds hanging over it. In Canada, the latest employment report will be [..]

Daily Market Comment – Yen shines bright as Trump slaps tariffs on Mexico

Posted on May 31, 2019 at 7:47 am GMT

Risk aversion engulfs markets after US unleashes more trade havoc Dollar holds its ground even as Fed easing bets grow further US PCE inflation, German preliminary CPIs, and Canadian GDP due today Yen soars, loonie & peso crumble as Trump fires another tariff salvo Following a relatively calm session yesterday, risk aversion returned with a vengeance early on Friday, after the US President announced new tariffs overnight. All goods coming to the US from Mexico after June 10 will be [..]

European Open Preview – Dollar roars higher; Wall Street stabilizes, for now

Posted on May 30, 2019 at 7:43 am GMT

Dollar remains king as major peers continue to lack appeal Stocks calm down after drop, but perhaps only temporarily BoC stands pat, loonie drops as officials keep a lid on optimism Dollar reigns over FX market, nears 2-year highs The world’s reserve currency remains the undisputed king of the FX market, as investors continue to favor dollar-denominated assets amidst worries that the conflict between Washington and Beijing is slowly morphing into a new cold war. The greenback outperformed even the [..]

European Open Preview – Stocks slip as trade worries intensify; BoC decides

Posted on May 29, 2019 at 7:59 am GMT

Equities drop, safe havens soar as trade outlook darkens Bank of Canada meets today – may be a touch more optimistic Aussie resilient despite trade woes & RBA rate cut bets Trade woes return to haunt stocks; yen & dollar cruise higher Risk appetite turned sour again on Tuesday, as British and American traders returned to their desks after a long weekend and were met by more worrisome trade news. Recent reports citing Chinese officials suggest the real reason the [..]

Technical Analysis – GBPUSD bears remain into play around 4½-month low

Posted on May 28, 2019 at 6:42 am GMT

GBPUSD is remaining under pressure during this month and it completed a fresh four-and-a-half-month low around 1.2600 in the preceding week. Currently, the pair has been holding beneath the red Tenkan-sen line as well as below the 23.6% Fibonacci retracement level of the downfall from 1.3380 to 1.2600, near 1.2790, suggesting more losses in the market. However, turning attention to the technical indicators, the RSI seems to be overstretched as it returned above the overbought zone but is still flattening [..]

European Open Preview – Euro and pound steady after European elections

Posted on May 27, 2019 at 8:08 am GMT

Euro holds steady as pro-European parties maintain majority in European Parliament Sterling firmer despite Brexit party’s win at Euro elections as focus turns to Tory leadership race Stocks edge up but remain weighed by ongoing trade frictions as Trump pressures Japan Markets calm as EU populist parties make only limited gains There were significant gains across the European Union for far right and populist parties, with mainstream parties losing ground. However, while the centre-right and centre-left parties were unable to [..]

Week Ahead – US PCE inflation, BoC meeting and Aussie Q1 capex eyed amid rising risk aversion

Posted on May 24, 2019 at 9:58 am GMT

As trade tensions continue to simmer and there’s no end in sight to the Brexit turmoil, risk sentiment will probably remain the biggest driver for forex markets in the coming week. But there will still be several market-moving events for investors to keep a watch on. PCE inflation numbers from the United States, Canadian Q1 GDP estimates and a Bank of Canada meeting, as well as capital expenditure figures from Australia will be the main highlights. Aussie to stay on [..]

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