All Articles Tagged - GBPUSD

UK inflation and retail sales data to get eclipsed by Brexit drama – Forex News Preview

Posted on January 15, 2019 at 1:40 pm GMT

Key data releases out of the UK are likely to once again find themselves fighting for attention amid a deepening Brexit turmoil. But although there will be bigger stories than economic indicators dominating the headlines for sterling traders over the next few days, the data could nevertheless provide some clues as to the likelihood of a Bank of England rate hike should the Brexit storm clear up. The CPI report is due on Wednesday at 09:30 GMT, while the retail [..]

European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:50 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]

Technical Analysis – GBPUSD unlocks 2-month peak; turns short-term bias to bullish

Posted on January 15, 2019 at 7:39 am GMT

GBPUSD is hovering around the two-month high of 1.2930 after it posted two consecutive green days, having broken above the 40-day simple moving average (SMA) and the descending trend line. This week the pair continues to attract buying interest, with the price climbing slightly above the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2390, around 1.2855. The technical indicators are still positive in the short-term, with the MACD stretching further above its red trigger line and the RSI moving above the 50 level with strong momentum. Furthermore, [..]

Sterling in focus as UK Parliament prepares to vote on Brexit deal – Forex News Preview

Posted on January 14, 2019 at 4:01 pm GMT

British lawmakers will hold the “meaningful vote” on the government’s Brexit deal on Tuesday evening. The accord is widely expected to be voted down, and although that may hurt sterling initially, the currency’s broader direction will probably depend more on what happens next. Overall, the biggest tail risk for the pound – a no-deal exit – seems to be gradually abating, thereby brightening the prospects for the UK currency. It’s going to be another crucial week for Brexit, setting the [..]

European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:48 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]

Week Ahead – Brexit crunch time as MPs to vote on May’s deal; inflation data to dominate

Posted on January 11, 2019 at 12:29 pm GMT

Brexit fatigue looks set to reach a climax next week as UK lawmakers will finally get their say on Theresa May’s deal. But with little chance of the deal passing through Parliament, stormy days lie ahead for sterling. On the data front, inflation will be the dominant theme, while the US housing market will also come under the spotlight, assuming the government shutdown doesn’t cause a delay to the scheduled releases. Chinese trade figures eyed China will publish its latest [..]

European Open Preview – US inflation data in the spotlight

Posted on January 11, 2019 at 8:52 am GMT

Dollar briefly inches up after Powell; US CPI data today will be crucial Swiss franc drops, with SNB likely behind the move US-China trade optimism boosts aussie and kiwi Brexit uncertainty lingers ahead of next week’s Parliamentary vote Powell helps dollar to rebound briefly, but mind the upcoming inflation data Fed Chair Powell mostly “stuck to the script” yesterday, reiterating the recent shift in the Fed’s reaction function. He said his central bank can afford to be patient with further [..]

UK GDP, industrial output data to attract less attention as Brexit deal vote looms – Forex News Preview

Posted on January 10, 2019 at 9:56 am GMT

The UK economy will be in focus on Friday as November data on monthly GDP, industrial output and trade are due at 09:30 GMT. But with the crucial Parliamentary vote on Theresa May’s much-criticised Brexit deal coming up just a few days later, the normally closely-watched indicators may fail to generate notable reaction in forex markets. After notching up growth of 0.6% quarter-on-quarter in the September quarter, the British economy is expected to have cooled in the final three months [..]

European Open Preview – Dollar capitulates as Fed signals “patient” approach

Posted on January 10, 2019 at 8:50 am GMT

Dollar falls sharply after Fed signals it will be “patient”; a slew of key speakers will be in focus today Euro advances, and attention now turns to the ECB minutes at 1230 GMT BoC stands pat, keeping further gradual hikes on the table China stokes trade optimism, but US stock futures flashing red Dollar capitulates on Fed speak, extends losses after FOMC minutes The main mover in FX markets yesterday was the US dollar, which fell significantly and across the [..]

European Open Preview – FOMC minutes and BoC rate decision in the spotlight

Posted on January 9, 2019 at 8:42 am GMT

In the US, minutes from the latest FOMC meeting will be scrutinized for clues on whether a pause in rate hikes is indeed in order In Canada, the BoC will meet and attention may fall on whether policymakers are growing more cautious Overnight, China releases its updated inflation data FOMC minutes eyed for rate guidance amid recession fears The dollar advanced nearly across the board on Tuesday without any major US-specific catalyst, instead capitalizing on weakness in the euro, which [..]

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