All Articles Tagged - GBPUSD

European Open Preview – Markets brush aside trade concerns; UK inflation in the spotlight

Posted on September 19, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is lower on Wednesday, albeit not by much (-0.12%), giving back the slight gains it posted yesterday. The yen plunged across the board as investors rotated out of safe assets, after the US-China trade confrontation was perceived to be milder than feared. Meanwhile, risk-sensitive currencies like the aussie and kiwi recovered some lost ground. STOCKS: US markets climbed on Tuesday, shrugging off trade worries as the tariff actions by both China and [..]

UK CPI and retail sales to lose steam in August – Forex News Preview

Posted on September 18, 2018 at 4:20 pm GMT

After an upbeat report on wage growth last Tuesday, consumer prices and retail sales out of the UK are the next in line to drive the British pound this week. Surprisingly, average earnings picked up speed in July, outstripping inflation for the fifth consecutive month, a sign that purchasing power could widen in the coming months. Retail sales for the month of August, however, are expected to show that household spending softened instead, even under projections that inflation in the [..]

US Open Preview – Dollar holds onto gains despite China’s warnings; BoJ rate decision in focus

Posted on September 18, 2018 at 11:34 am GMT

Here are the latest developments in global markets: FOREX: The US dollar moved higher by 0.26% against the Japanese yen but held below its intraday high of 112.27, while the US dollar index edged marginally higher by 0.09%. US President Donald Trump announced yesterday that his country will impose a 10% tariff on $200bn of Chinese goods from September 24 as was widely anticipated. As of January 1, 2019, those tariffs will be raised to 25%. Euro/dollar erased earlier gains to return to 1.1682, [..]

European Open Preview – Trump fires fresh tariff salvo, how will China “strike back”?

Posted on September 18, 2018 at 8:04 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is down fractionally on Tuesday (-0.08%), extending the notable losses it posted in the previous session, unable to attract safe-haven inflows even despite a fresh escalation in the US-China trade standoff. The pound gained ground on Monday alongside the euro as investors positioned for an EU summit that commences tomorrow, with expectations for a Brexit breakthrough riding high. STOCKS: US markets closed in the red on Monday, weighed [..]

Technical Analysis – GBPUSD has been in rally mode after surpassing 23.6% Fibonacci

Posted on September 18, 2018 at 6:34 am GMT

GBPUSD recorded a stunning rally after it jumped above the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2660, around 1.3066, posting a fresh seven-week high of 1.3169. The buying interest following the rebound on the 1.2660 support level has shifted the bearish outlook to a neutral one. However, the 20-day simple moving average (SMA) created a bullish crossover with the 40-day SMA in the near-term, indicating a continuation of the upside correction move. The momentum indicators are supportive of [..]

US Open Preview – Euro, pound resume bullish mood as trade risks intensify

Posted on September 17, 2018 at 11:54 am GMT

Here are the latest developments in global markets: FOREX: During the early European session, the US dollar was slightly weaker against the yen near 112.00 (-0.04%), with investors trading cautiously as the US President Donald Trump is said to announce new levies on China later today. The Eurozone Harmonized Consumer Price Index (HCPI) for the month of August released earlier today, confirmed the preliminary estimates. The yearly headline inflation remained the same as in the previous month at 2.0%, while the monthly gauge [..]

European Open Preview – Dollar recovers as trade tensions resurface

Posted on September 17, 2018 at 8:11 am GMT

Here are the latest developments in global markets: FOREX: The US dollar is down by a marginal 0.05% against a basket of six major currencies on Monday, largely holding on to the safe-haven gains it recorded in the previous session as concerns regarding an escalation in US-China trade row resurfaced. There was little movement elsewhere in the FX market, with investors appearing somewhat reluctant to initiate new bets with the risk of fresh tariffs being imposed soon hanging in the [..]

Week Ahead – Inflation and flash PMI data to dominate; BoJ to leave policy unchanged

Posted on September 14, 2018 at 12:57 pm GMT

Economic data will move to the fore next week with several countries reporting inflation, retail sales and flash PMIs. Canada and the United Kingdom will publish CPI and retail sales figures, while in the Eurozone, the focus will be on the flash PMI releases by IHS Markit. Second quarter GDP figures out of New Zealand will be another highlight. Central bank activity will also keep the markets busy as the Bank of Japan and the Swiss National Bank hold policy [..]

US Open Preview – Yen rebounds on Abe’s remarks; US retail sales and industrial production eyed

Posted on September 14, 2018 at 11:43 am GMT

Here are the latest developments in global markets: FOREX: Hopes for China and the US to restart trade dialogues soon, higher growth projections by the Bank of England and the ECB’s optimism for wages and inflation in the EU reduced the demand for safe-havens such as the yen, sending dollar/yen to 112.07 early on Friday for the first time since August 1. Yet, the upside did not last for long, with the pair dropping back to 111.70 (-0.11%) after the Japanese Prime Minister, Shinzo Abe [..]

European Open Preview – Yen crumbles amid risk-on mood; US retail sales in the spotlight

Posted on September 14, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly unchanged on Friday (-0.02%), holding on to the losses it posted in the previous session following a disappointment in the US CPI inflation data. The yen also retreated across the board, as risk appetite remained firm and investors rotated funds out of haven assets and into riskier ones. Meanwhile, the euro gained slightly after the ECB confirmed its normalization plans remain on track yesterday, while the pound was [..]

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