All Articles Tagged - GBPUSD

European Open Preview – Risk aversion accelerates; RBNZ cuts

Posted on May 8, 2019 at 8:01 am GMT

Stocks plunge, haven assets shine as markets focus on trade risks RBNZ eases its policy, but kiwi bounces back Pound tumbles amid lack of progress in cross-party Brexit talks Risk aversion accelerates as trade worries prevail Trade concerns dominated price action on Tuesday, with global stock markets accelerating their losses while haven assets like the Japanese yen extended their gains, as traders continued to reduce their risk exposure ahead of crucial events later this week. Strikingly, there was no fresh [..]

European Open Preview – Stocks don’t ‘buy’ Trump’s threats; RBA holds fire

Posted on May 7, 2019 at 7:50 am GMT

US stocks stage comeback as markets doubt Trump’s tariff threats Aussie soars after RBA remains on hold RBNZ decides next – may also disappoint those looking for a cut Stocks bounce back as traders doubt Trump will escalate All eyes remain on the US-China trade conflict. Risk sentiment recovered yesterday as the session progressed, with US stock markets recouping most of their early losses to close only modestly lower. It seems investors didn’t really ‘buy’ Trump’s tariff threats, perhaps concluding [..]

Technical Analysis – GBPUSD bulls back in play after reaching 6-week low

Posted on May 7, 2019 at 6:42 am GMT

GBPUSD has found strong support at the six-week low of 1.2865 on April 25, shifting the short-term negative bias to bullish. Also, cable penetrated the descending trend line to the upside and it jumped above the 23.6% Fibonacci retracement level of the upleg from 1.2390 to 1.3380 around 1.3150 but it pared some of those gains in the next session. Currently, the pair is standing above the moving averages, while the RSI indicator is sloping up in the positive area, [..]

European Open Preview – Trump threatens new tariffs, markets retreat

Posted on May 6, 2019 at 8:13 am GMT

Stocks fall, yen soars as Trump hints at new tariffs Dollar retreats after jobs data, but trade concerns provide support Sterling rebounds amid hopes for Brexit progress Trump warns of new tariffs on China, dents risk appetite Risk aversion is the name of the game on Monday, with investors diverting funds away from riskier assets like stocks and towards safe havens such as the Japanese yen, amid fears that the US-China trade conflict is ready to re-escalate. President Trump said [..]

Week Ahead – Aussie and kiwi braced for dovish RBA and RBNZ meetings; UK Q1 GDP also eyed

Posted on May 3, 2019 at 12:32 pm GMT

Central bank policy meetings in Australia and New Zealand will be the main focus next week with investors anticipating a further dovish tilt. Out of all the central banks that have turned dovish this year, the Reserve Bank of New Zealand is the most likely to cut rates and analysts are predicting a move as early as next week. In terms of economic indicators, UK growth figures for the first quarter will be the most important release followed by US [..]

European Open Preview – Dollar rally eases, looks to US jobs report for further impetus

Posted on May 3, 2019 at 8:07 am GMT

US dollar extends gains ahead of today’s nonfarm payrolls report Aussie hits 4-month low as odds rise of RBA rate cut next week Oil prices slump on oversupply concerns as US output continues to surge Dollar stands tall ahead of NFP report There was little to hold back the US dollar on Friday as recent solid US data and a not-so-dovish Fed have lessened the odds of a rate cut before the year-end. Investors sharply adjusted their rate cut bets [..]

European Open Preview – Dollar whipsaws after Fed; Pound holds firm ahead of BoE

Posted on May 2, 2019 at 8:05 am GMT

US dollar swings sharply after Powell tones down Fed’s dovish statement Hawkish Powell puts dent on equities rally Pound holds near highs ahead of Bank of England meeting as hopes rise May will agree to a customs union Rate cut bets ease after Powell’s press conference The Federal Reserve kept interest rates on hold yesterday as expected and the dollar initially fell on the announcement as the FOMC statement highlighted the recent decline in inflation. However, the greenback quickly reversed [..]

Bank of England to sit on hands this week – Forex News Preview

Posted on April 30, 2019 at 4:14 pm GMT

The Bank of England will announce its latest policy decision on Thursday at 1100 GMT and is certain that no policymaker will vote for a change as developments around Brexit are still in a limbo a few weeks after the EU decided to grant the UK a six-month extension to exiting from the bloc. Economic prospects that greatly depends on the nature and timing of the divorce agreement is also giving little reason to abandon the current strategy. The UK Prime Minister turned [..]

Technical Analysis – GBPUSD gains some ground but still below descending line

Posted on April 30, 2019 at 9:52 am GMT

GBPUSD printed a bullish doji on Thursday near a 2 ½ -month low of 1.2864 before showing some recovery in the following sessions. While the RSI and the MACD seem to be improving in bearish territory, the market needs to overcome the descending trend-line drawn from the 1.3380 peak for the bulls to energize. The 38.2% Fibonacci level of 1.3007 of the 1.2393-1.3380 uptrend and the 20-day simple moving average (SMA) also happen to be in the same neighborhood. Should the price jump above the line, the [..]

European Open Preview – Dollar buoyant ahead of Fed, but caution elsewhere amid mixed growth signals

Posted on April 30, 2019 at 8:06 am GMT

Solid US growth and muted inflation boosts US dollar and Wall Street But other majors sag as disappointing Chinese PMIs revive growth fears Fed to start two-day monetary policy meeting, unlikely to alter stance Dollar eases from 22-month high but remains supported ahead of FOMC meeting The US currency was outperforming its peers early on Tuesday as there was further evidence on Monday that growth in the world’s largest economy is picking up speed. Personal consumption in the US rose [..]

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