All Articles Tagged - GBPUSD

European Open Preview – Major pairs steady as China GDP awaited; aussie slips on rate cut bets

Posted on April 16, 2019 at 8:15 am GMT

Dollar steady as markets await economic releases for more clues on outlook amid signs of green shoots China GDP will be the week’s highlight and key in building on the current risk-on tone Market mood to also be determined by US earnings season as banks’ results underwhelm Aussie worst performing currency after RBA sets condition for rate cut Dollar off lows ahead of important data The positive risk sentiment from Friday continued to ease slightly on Tuesday as investors preferred [..]

Technical Analysis – GBPUSD trends along a short-term descending line

Posted on April 16, 2019 at 7:27 am GMT

GBPUSD closed with few gains on Monday, remaining inside the Ichimoku cloud and below the descending line drawn from the 9-month high of 1.3380. Both the RSI and the MACD have been making efforts to exit the bearish territory, with the former reversing towards its 50 neutral mark and the latter easing negative momentum to climb above its red signal line. While those attempts provide some optimism, they are not enough yet to support strong positive prospects for the short-term trading. A strong [..]

Slew of UK data eyed as Brexit endgame remains elusive – Forex News Preview

Posted on April 15, 2019 at 12:37 pm GMT

It seems like it will be a quiet week on the Brexit front, so focus may turn back to UK economic data. Employment, inflation, and retail sales figures are due out on Tuesday, Wednesday, and Thursday respectively – all at 08:30 GMT. These may add some volatility to sterling, but the next ‘big move’ in the currency will likely be driven by updates in the Brexit rollercoaster, not economic data. In that sense, long-term upside risks for the pound seem [..]

European Open Preview – Dollar and yen pressured as China optimism lifts markets

Posted on April 15, 2019 at 8:22 am GMT

Safe-haven favourites, the dollar and the yen, trade near Friday’s lows as positive data out of China triggers a risk rally Encouraging comments from Mnuchin on US-China trade talks also helps risk sentiment Focus this week to centre on US earnings and China GDP ahead of long Easter weekend Jump in Chinese lending eases growth jitters Fears of a global slowdown, which were amplified early last week after the IMF lowered its global growth forecasts, subsided substantially on better-than-expected economic [..]

Week Ahead – China Q1 GDP eyed; inflation data to dominate elsewhere

Posted on April 12, 2019 at 1:44 pm GMT

Markets will take a break from central banks and Brexit news over the coming week as the focus moves firmly onto economic fundamentals. Monthly inflation reports will be the dominant release, followed by retail sales estimates. The latest flash PMIs will also be keenly watched amid tepid signs of a recovery in some parts of the world. But while the upcoming data could prove significant in identifying shifting trends, major FX pairs will likely struggle to break out of their [..]

European Open Preview – Earnings season kicks off; dollar struggles to advance

Posted on April 12, 2019 at 6:38 am GMT

US earnings season commences with JPMorgan & Wells Fargo Dollar advances alongside US yields, but pares gains Yen retreats ahead of US-Japan trade talks, gold follows Earnings season kicks off with major US banks US equity markets closed practically flat yesterday, though the Nasdaq Composite (-0.22%) did post some losses, with traders appearing reluctant to take on new positions ahead of what promises to be a stormy earnings season. US banking behemoths JPMorgan Chase and Wells Fargo will report their [..]

European Open Preview – Draghi briefly sinks euro; Brexit delayed again

Posted on April 11, 2019 at 7:56 am GMT

ECB’s Draghi hints at more stimulus, but euro tumbles only modestly and recovers quickly Dollar pulls back after disappointing US CPI data, looks to Fed speakers today EU grants Brexit extension – Varadkar’s remarks indicate way forward Euro tumbles as Draghi hints at more stimulus, but only modestly As expected, the European Central Bank (ECB) kept both its policy and forward guidance unchanged yesterday. President Draghi maintained a cautious tone, highlighting that incoming data remain weak, especially in the manufacturing [..]

European Open Preview – ECB meeting, EU Brexit summit, and much more

Posted on April 10, 2019 at 7:42 am GMT

Today is packed with market-moving events, including an ECB meeting, an EU summit on Brexit, US inflation data, and Fed minutes ECB is likely to maintain a dovish tone amid growth, trade concerns EU set to offer UK long but ‘flexible’ Brexit extension Meanwhile, trade uncertainty returns to haunt stocks ECB meets – No action, but perhaps more cautious language The European Central Bank (ECB) will announce its policy decision at 11:45 GMT, but the real action will likely begin [..]

European Open Preview – US proposes tariffs on EU, but markets remain calm

Posted on April 9, 2019 at 7:53 am GMT

US officially proposes tariffs on EU, but market reaction minimal so far Euro advances, looks to ECB meeting tomorrow In Brexit, May will meet Merkel and Macron today ahead of EU summit Lighthizer recommends tariffs on EU – new chapter in trade war? The main story overnight was that the US Trade Representative, Robert Lighthizer, proposed introducing tariffs on a list of 11$bn worth of EU products in retaliation to EU aircraft subsidies. This is the clearest sign yet that [..]

Technical Analysis – GBPUSD jumps higher as ascending trend line looks supportive

Posted on April 9, 2019 at 6:36 am GMT

GBPUSD is continuing yesterday’s rebound on the medium-term ascending trend line, which has been standing since December 2018 and at the same time confirming another touch at the 38.2% Fibonacci retracement level of the upleg from 1.2390 to 1.3380, around the 1.3000 key level. The short-term bias looks positive as the RSI keeps gaining ground slightly below the neutral threshold of 50. The 40- and then the 20-day simple moving averages (SMA) currently near the 23.6% Fibonacci mark of 1.3150 [..]

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