All Articles Tagged - GBPUSD

European Open Preview – Risk-off tones boost the yen and weigh on equities; US jobs data front and center

Posted on October 5, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is practically flat against a basket of six major currencies on Friday. It retreated in the previous session, but still held close to its recent highs. The yen saw a round of gains, with dollar/yen falling back below 114.00 as investors turned defensive amid high bond yields, and signs that the US-China “cold war” may be entering a new phase. Meanwhile, the commodity-linked currencies continued to underperform, with the aussie [..]

US Open Preview – Dollar holds above 114 vs yen as US bond yields soar; US factory orders pending

Posted on October 4, 2018 at 12:08 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar retreated by 0.33% to 114.16 against the Japanese yen on Thursday after topping at 114.54 on Wednesday, the highest in 11 months. Following yesterday’s positive US data and hawkish comments from Federal Reserve Chairman Jerome Powell, US 10-year government bond yields spiked as high as 3.23% today, a level never seen since June 2011. Powell said that interest rates still have a long way to go to reach neutral levels, flagging that additional rate [..]

US jobs data unlikely a game changer, still likely to generate short-term volatility – Forex News Preview

Posted on October 4, 2018 at 10:23 am GMT

The US jobs report for September due on Friday at 1230 GMT is undoubtedly the week’s data highlight. Despite the prominence of the release and barring a significant deviation from expectations, the numbers are unlikely to alter the US central bank’s monetary policy outlook. Still, some near-term volatility in dollar pairs is likely to emerge as the relevant prints are made public. According to forecasts, the US economy added 185k positions in September, below August’s 201k but nevertheless a healthy [..]

European Open Preview – Dollar flexes its muscles to reach an 11-month peak versus the yen

Posted on October 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher on Thursday (+0.29%), extending the impressive gains it recorded in the previous session as US yields raced higher. The US currency touched a fresh 11-month high against the yen, buoyed by strong US data and confident remarks by Fed chief Powell. Meanwhile, the antipodean currencies underperformed, with both aussie/dollar and kiwi/dollar tumbling to fresh 2½-year lows. STOCKS: The Dow Jones (+0.20%) closed at a fresh record high for [..]

US Open Preview – Pound weaker after UK PM May’s conference speech

Posted on October 3, 2018 at 12:05 pm GMT

Here are the latest developments in global markets: FOREX: The common currency crawled up on Wednesday from six-week lows on news that the final version of Italy’s budget deficit could be less worse than originally reported. Government sources signalled possible reductions to the deficit targets in 2020, 2021, according to reports. Earlier today, retail sales in the Euro area dropped by 0.2% m/m in September from a downwardly revised 0.6% decline in the previous month, missing market expectations of a 0.2% gain. It was the second consecutive month of decrease in [..]

European Open Preview – Euro bounces on Italian news; sterling eyes PM May’s speech

Posted on October 3, 2018 at 7:45 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 – is lower by 0.20% on Wednesday. This is owed mainly to a recovery in the currency with the heaviest weight in this index, the euro, which bounced overnight following news that Italy is willing to compromise on its budget deficits from 2020 onwards. Elsewhere, the pound grinded lower during the Conservative Party Conference, with all [..]

Technical Analysis – GBPUSD extends negative move; downfall could pause in short-term

Posted on October 3, 2018 at 7:08 am GMT

GBPUSD has been erasing gains since the peak at 1.3297 on September 20 to fall back into the Ichimoku cloud. Yet, the RSI indicates that the downfall may stall as the indicator is near its 50-neutral mark, while the Stochastics suggest that a reversal to the upside is also possible; the green %K line has crossed above the red %D line in oversold area below 20. A leg higher and above the 50% Fibonacci of the downleg from 1.3361 to 1.2660, the [..]

UK services PMI on the agenda, ahead of May’s speech – Forex News Preview

Posted on October 2, 2018 at 2:10 pm GMT

As the UK’s ruling Conservative Party wraps up its annual conference on Wednesday, the nation will also see the release of its services PMI at 0830 GMT. Forecasts suggest the UK’s largest sector cooled a little in September, which may prove somewhat negative for the pound. That said, the currency’s overarching driver will be any Brexit updates, with some remarks by PM May half an hour later at 0900 GMT likely to be squarely in focus. The seemingly ceaseless barrage [..]

US Open Preview – Euro, pound hit fresh lows; Powell’s speech awaited

Posted on October 2, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was trading bullish on Tuesday (+0.35%), posting 1-month highs at 95.70, while dollar/yen weakened to 113.76 (-0.15%) after an impressive rally towards the more than a 10-month high of 114.06 on Monday. The Canadian dollar, which surged to four-month highs yesterday in the wake of news that the US and Canada finally reached common ground over NAFTA, was slightly weaker today, with dollar/loonie inching up to 1.2834 (+0.20%). Note [..]

European Open Preview – Euro extends losses as Italian worries dominate

Posted on October 2, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar is up by 0.23% against a basket of six major currencies on Tuesday, looking set to post gains for the fifth session in a row. The loonie was an outperformer, with news that the US and Canada reached a new NAFTA accord lifting the risk premium on the currency. Meanwhile, the euro remains on the back foot, as Italy’s government appears adamant about sticking to its deficit target, setting the [..]

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