All Articles Tagged - GBPUSD

Week Ahead – Fed and BoE decisions, NFP report, Eurozone GDP incoming

Posted on January 26, 2024 at 11:15 am GMT

It’s a packed week ahead with key central bank decisions and big data releases Will the Fed (Wednesday) and Bank of England (Thursday) signal rate cuts? US jobs report, Eurozone GDP & CPI will also be crucial Plus, Aussie inflation and an OPEC meeting Fed meets: more pushback or a cautious green light? The Federal Reserve’s January policy meeting will undoubtedly be the highlight of the coming week as investors remain convinced a dovish pivot is drawing closer. Speculation about [..]

Market Comment – Dollar pulls back, Yen stages another recovery

Posted on January 24, 2024 at 9:46 am GMT

Dollar retreats as Bullard talks March rate cut Yen recovers again on BoJ hike speculation BoC to keep interest rates untouched Risk appetite remains supported, S&P 500 hits new record Bullard says Fed could cut rates as soon as March The US dollar traded higher against most of the major currencies on Tuesday, losing some ground only against the risk-linked aussie, kiwi and loonie. That said, the greenback is on the back foot today, perhaps due to remarks by former [..]

Volatility Report – January 23, 2024

Posted on January 23, 2024 at 10:45 am GMT

Volatility remains significantly low across the currency board Commodity markets seem quiet as well, oil exhibits more volatility than metals US indices in the middle of volatility range, JP225 and Bitcoin are rather hot The recent range-trading in most major currency pairs has caused their expected volatility to drop to relatively low levels. That said, there are several central bank meetings coming up, which could help reignite FX volatility In the commodity space, volatility of gold and silver continues its downward move despite the [..]

Technical Analysis – GBPUSD ticks up in trading range

Posted on January 23, 2024 at 8:08 am GMT

GBPUSD surpasses 20-day SMA RSI points up in bullish area Short-term bias positive, but there are more threats higher GBPUSD has reversed back higher again after finding support at the lower boundary of the trading range of 1.2610-1.2785. Currently, the price is rising beyond the 20-day simple moving average (SMA) and is approaching its previous highs. Momentum indicators are showing some mixed signs. The MACD is still losing momentum beneath its trigger line in the positive region, while the RSI [..]

UK PMIs to reveal how the British economy entered the new year – Preview

Posted on January 19, 2024 at 12:44 pm GMT

Investors scale back BoE rate cut bets after CPI data But disappointing retail sales revive some recession fears Pound traders may now turn attention the UK flash PMIs The data comes out on Wednesday at 09:30 GMT Hotter-than-expected inflation, but disappointing retail sales After the hotter than expected UK CPI data for December, investors scaled back their Bank of England rate cut bets, lowering the total basis points worth of reductions expected by the end of the year to 115 [..]

Market Comment – Tech stocks rally on AI boom even as yields rise, dollar steady

Posted on January 19, 2024 at 10:26 am GMT

Apple and semiconductors push Nasdaq 100 to new record high But Fed repricing limits gains outside of tech as yields edge up Dollar holds firm, pound slips on data, yen propped up by verbal intervention AI optimism spurs tech rally AI mania made a comeback on Thursday as optimism about a recovery in AI-related demand as well as the broader tech sector boosted equity markets. Apple and TSMC were the main catalysts for yesterday’s rally, ending a two-day rout on [..]

Market Comment – Strong retail sales pour more cold water on Fed rate cut hopes

Posted on January 18, 2024 at 9:08 am GMT

Dollar gains as US retail sales beat estimates Probability for Fed rate cut in March declines further Yen falls further ahead of Japan’s National CPI data Pound and euro recover some lost ground US retail sales beat forecasts, weigh on Fed rate cut bets The US dollar continued gaining against most of its counterparts on Wednesday, losing ground only versus the euro and the pound. That said, today it is pulling back, perhaps on profit-taking following its latest advance. What [..]

Technical Analysis – GBPUSD holds within trading range

Posted on January 17, 2024 at 1:58 pm GMT

GBPUSD rebounds off 1.2610 again Remains above short- and medium-term uptrend lines RSI and MACD show mixed signs GBPUSD has been developing within a narrow range of 1.2610-1.2785 over the last month, holding above the short-term black dotted uptrend line. The price failed several times to extend a negative move below 1.2610, where the 50-day simple moving average (SMA) also lies. A successful fall below this crucial line could open the door for a negative wave until the 200-day SMA [..]

Market Comment – Dollar rallies as market scales back Fed rate cut bets

Posted on January 17, 2024 at 9:13 am GMT

Waller says Fed is in no rush to cut rates March cut probability slips and dollar gains Pound rebounds after hotter-than-expected UK CPI data Yen and euro extend losses, Wall Street also slips Traders scale back Fed rate cut bets, US retail sales on tap The US dollar rose sharply against all its major counterparts on Tuesday, extending its gains today, as Fed Governor Waller said that while inflation is within “striking distance” of their 2% objective, they should not [..]

Market Comment – Mood sours as ECB pushes back on rate cuts; will Fed follow suit?

Posted on January 16, 2024 at 10:24 am GMT

Euro skids even as ECB officials dampen early rate cut expectations Dollar jumps on fears Fed’s Waller will take a similarly hawkish stance Pound and aussie tumble on soft data Oil and gold pulled in different directions in choppy trade Rate cut bets pared back after ECB intervention Dovish expectations for the major central banks suffered a setback on Tuesday after ECB Governing Council member Robert Holzmann cast doubt on the prospect of any rate cuts in 2024. Speaking at [..]

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