All Articles Tagged - GBPUSD

US Open Preview – Brexit hopes hold pound up; US PPI in focus

Posted on October 10, 2018 at 11:56 am GMT

Here are the latest developments in global markets: FOREX: The British pound unlocked fresh two-week highs against the US dollar at 1.3184 but it soon fell to 1.3136 after GDP growth readings out of the UK missed a forecast of 1.6% y/y, showing instead an expansion of 1.5%. July’s mark, though, was revised upwards, from 1.6% to 1.7%. Separately, manufacturing and construction outputs in August disappointed as well, driving industrial production back to the negative territory. The British trade balance [..]

European Open Preview – Fresh dose of Brexit optimism lifts pound; key UK data and US factory inflation coming up

Posted on October 10, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is fractionally lower on Wednesday (-0.06%), after finishing the previous session down as well, weighed on by a slight pullback in US bond yields. The British pound outperformed, as fresh media reports amplified optimism that a Brexit deal may be reached by next week. On the other hand, the euro surrendered ground across the board, even despite some soothing remarks by the Italian PM. STOCKS: Wall Street closed mostly in [..]

UK monthly GDP data on tap as Brexit-deal optimism grows – Forex News Preview

Posted on October 9, 2018 at 1:05 pm GMT

UK GDP data for August will hit the markets at 0830 GMT on Wednesday. Forecasts point to figures that are unlikely to spur too much volatility in sterling. Instead, the most crucial driver for the currency moving forward will be how the Brexit talks play out. With the EU seemingly ready to make some compromises at last, politics could well overshadow economics over the coming weeks, dominating moves in sterling. The UK economy is forecast to have grown by [..]

US Open Preview – Euro feels more pain as Italian stress weighs; bond yields hit fresh highs

Posted on October 9, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: The euro erased earlier gains to fall as low as 1.1435 (-0.50%), the lowest since August 20, as a potential clash between Rome and the EU over Italy’s spending plans looked unavoidable – especially after bitter comments by the Deputy Prime Minister, Matteo Salvini in Brussels on Monday. Meanwhile, Italy’s finance minister reiterated today that the deficit target for 2019 will be 2.4% of GDP, but also said that the government will take action if the yield spread widens. US [..]

European Open Preview – Yen stages comeback amid China & Italy concerns

Posted on October 9, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – inched up by 0.11% on Tuesday, extending the gains it recorded in the previous session. This was largely owed to a tumble in the euro, which holds the largest weight in this index by far, as concerns around Italy remained in the spotlight. The yen was the best performer among the major currencies, with investors [..]

Technical Analysis – GBPUSD unlocks 23.6% Fibonacci; creates bullish correction

Posted on October 9, 2018 at 6:43 am GMT

GBPUSD seems be in progress to post a bullish correction of the strong sell-off following the pullback on 1.4375. The pair successfully surpassed the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2660, around 1.3066, as well as the 20- and 40-simple moving averages (SMAs) in the daily timeframe. The technical indicators are moving with weak momentum in the positive territory, with the RSI sloped slightly to the upside and the MACD is approaching the trigger line to create a bullish cross. Should the pair [..]

US Open Preview – Yen recoups losses despite dollar strength; oil & gold on slippery road

Posted on October 8, 2018 at 12:07 pm GMT

Here are the latest developments in global markets: FOREX: With Japan being shut for the Health and Sports public day and risk-off sentiment strengthening amid trade uncertainties and political noises in the Eurozone, the Japanese yen managed to rebound, sending dollar/yen straight down to a 1 ½ -week low of 113.33 (-0.33%). Yesterday, the People’s Bank of China slashed the amount of cash banks must hold as reserves, stepping up efforts to set free some liquidity and thus boost growth in [..]

European Open Preview – Dollar unimpressed by jobs data; yuan softens as China opens stimulus taps

Posted on October 8, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.18% against a basket of six major currencies on Monday, recovering the modest losses it recorded in the previous session. The British pound posted notable gains after media reports suggested the EU is ready to offer the UK a “super charged” free trade deal. In China, the PBOC eased policy by cutting its reserve requirement ratios (RRR), triggering a tumble in the yuan. STOCKS: US markets were a [..]

Week Ahead – US inflation and Chinese trade figures to highlight quiet week

Posted on October 5, 2018 at 1:10 pm GMT

US inflation indicators and Chinese trade numbers will be the big data releases during the next seven days, with the economic calendar otherwise looking relatively light. August industrial output figures will be the focus in Europe, while the minutes of the European Central Bank’s September policy meeting should also attract some attention. Chinese export growth to maintain momentum in September As the United States continues to pile pressure on Chinese authorities to give US companies more access to the local [..]

US Open Preview – Dollar steady ahead of NFP; Brexit hopes support pound

Posted on October 5, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar held steady against the Japanese yen on Friday, as investors turned their attention to the monthly US Nonfarm payrolls report due later today. The pair was last trading around 113.87. The US dollar index, which tracks the dollar’s strength against six major currencies, was also flat around 95.76, set to complete the second consecutive green week. Turning to Brexit news, European Union Brexit negotiators see a deal with Britain in the near future, [..]

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