All Articles Tagged - GBPUSD

UK growth likely ground to a halt in February as markets await Brexit decisions – Forex News Preview

Posted on April 8, 2019 at 2:38 pm GMT

Economic indicators due out of the United Kingdom on Wednesday (08:30 GMT) are anticipated to show GDP growth stalling in February amid the heightened uncertainty around Brexit. But it will be happenings in the Brexit sphere that will once again grab the bulk of traders’ attention. EU leaders will meet for an emergency summit on Wednesday to decide whether to grant the UK another extension to the exit date, otherwise a no-deal Brexit would be the default option when the [..]

European Open Preview – Fed rate-cut bets grow; oil climbs on Libya woes

Posted on April 8, 2019 at 7:58 am GMT

Dollar little changed after NFP, but Fed rate-cut odds rise In the UK, reports suggest PM May could accept a customs union compromise Oil touches five-month high as Libyan production is threatened Dollar snoozes after mixed jobs data, but rate-cut bets grow The US employment report for March was a mixed bag. Nonfarm payrolls clocked in at 196k, higher than the consensus for 180k, but wage growth disappointed, with average earnings slowing to 3.2% in annual terms, from a cycle-high [..]

European Open Preview – Dollar looks to US jobs data; stocks advance

Posted on April 5, 2019 at 9:08 am GMT

US dollar steadies ahead of NFP report Euro and pound post soft move after ECB minutes and Brexit updates Stocks continue to advance as trade deal is close Nonfarm payrolls in the limelight The greenback extended gains versus Japanese yen earlier on Friday, reaching a fresh three-week high around 111.80 before returning slighlty lower. All eyes will be on the US employment report for March at 1230 GMT. Predictions seem to be optimistic compared to the preceding month. Nonfarm payrolls (NFP) are [..]

Week Ahead – Euro and pound in focus as ECB meets and EU leaders hold emergency Brexit summit

Posted on April 4, 2019 at 3:13 pm GMT

Economic data will take a backseat in the coming week as the biggest risk events that are being anticipated are the European Central Bank’s policy meeting and an emergency summit by the European Union to discuss the Brexit crisis. But while UK and EU politics may grab most of the headlines, there will also be some key releases to keep an eye on. Export numbers out of China and Germany will be watched to assess global trading conditions as trade [..]

European Open Preview – Equities extend gains; UK Parliament blocks no-deal

Posted on April 4, 2019 at 7:48 am GMT

Pound advances as UK Parliament blocks no-deal exit; all eyes on May-Corbyn talks Equities extend winning streak as trade optimism rides high ECB minutes the highlight on today’s calendar Parliament blocks no-deal Brexit, pound advances The Brexit process continues to dominate headlines. The House of Commons voted by the narrowest of margins (313-312) to force Theresa May to ask the EU for an extension beyond April 12. Lawmakers, not the government, will decide the length of the delay, subject to [..]

European Open Preview – Pound climbs as May warms up to Corbyn; stocks jump

Posted on April 3, 2019 at 7:49 am GMT

Encouraging trade signals lift risk sentiment; high-level talks resume today Sterling climbs as May warms up to Corbyn to break deadlock Dollar pulls back ahead of ADP report and ISM non-manufacturing PMI Risk appetite boosted by hopes for trade breakthrough After a relatively uneventful session on Tuesday, during which major US stock indices such as the S&P 500 closed flat, risk sentiment was lifted overnight by some encouraging signs on the trade front. Reports suggest that top US and Chinese [..]

UK services PMI due, as pound eyes long Brexit extension – Forex News Preview

Posted on April 2, 2019 at 2:59 pm GMT

The main release in the UK this week will be the services PMI for March, due out on Wednesday at 09:30 GMT. However, politics will probably eclipse economics in driving the British currency. On that front, Parliament could hold another round of votes on Wednesday, and PM May is reportedly preparing to put her deal for a fourth vote on Thursday. In the bigger picture, a long Brexit extension is looking increasingly likely, an outcome which could bring some relief [..]

European Open Preview – Stocks, dollar rip higher as growth fears ease

Posted on April 2, 2019 at 8:03 am GMT

Rebound in Chinese PMIs fuels rally in global stocks, dollar advances Pound outperforms as ‘soft’ Brexit outcomes or long extension seem likely Aussie drops after RBA recalibrates language Stocks and dollar cruise higher as China-induced rally lingers Global equity markets started the second quarter on a strong footing, after a decent set of PMI data out of China during the weekend calmed some nerves around the global growth outlook, amplifying the appeal of riskier assets. Wall Street shares rallied, with [..]

Technical Analysis – GBPUSD faces neutral-to-bearish risk in short term

Posted on April 2, 2019 at 7:18 am GMT

GBPUSD returned to the downside on Tuesday after Monday’s closing above 1.31. The RSI is suggesting neutral trading in the short term as the index is curving up to reach its 50 neutral mark. Yet with the MACD stepping into the negative territory, the risk could be skewed to the downside. The 200-day moving average currently at 1.2974 could act as immediate support if negative momentum accelerates. If the line proves a weak obstacle, the 1.2900 psychological level could be the [..]

Week Ahead – RBA to mull dovish shift; resilient dollar eyes US jobs report

Posted on March 29, 2019 at 1:19 pm GMT

Bond markets will remain on edge in the coming week as the Reserve Bank of Australia could become the next central bank to switch to a dovish stance and possibly amplify the flight to safety, which has sent sovereign bond yields plummeting. Another catalyst for market volatility could come from the US jobs report, which has the capacity to either reverse or extend the rally in bond prices. There will be no shortage of US data with plenty of other [..]

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