All Articles Tagged - GBPUSD

Weekly Technical Outlook – USDJPY, GBPUSD, AUDUSD

Posted on January 8, 2024 at 1:44 pm GMT

USD/JPY resumes cautious mood ahead of CPI inflation GBP/USD sends mixed signals as GDP figures awaited AUD/USD trades at a make-or-break point; inflation and China’s data eyed US CPI inflation –> USD/JPY Nonfarm payrolls increased by 210k in December, more than analysts’ forecast of 170k, and the unemployment rate ticked down to 3.7%, sending USD/JPY closer to the 146.00 mark on Friday. Despite that, gains proved short-lived after the ISM services PMI report surprisingly headed lower, indicating careful hiring, persisting [..]

Market Comment – Investors trim Fed rate cut bets ahead of US jobs report

Posted on January 5, 2024 at 10:32 am GMT

Upbeat US job indicators fuel expectations of a strong NFP report Yields and dollar jump, stocks pressured as rate cut bets go into reverse No boost for wounded euro from pickup in Eurozone inflation Markets have second thoughts about big rate cuts Expectations that the Federal Reserve would aggressively slash interest rates this year took a knock ahead of Friday’s nonfarm payrolls report as investors repositioned themselves following some upbeat data on Thursday. The number of Americans filing for unemployment [..]

Week Ahead – Market spotlight turns to US CPI inflation

Posted on January 5, 2024 at 8:55 am GMT

US CPI inflation is the next big test for the US dollar Yen traders turn to Tokyo CPIs and wages for BoJ exit hints China’s inflation and trade numbers to impact broader sentiment UK monthly GDP on tap amid recession fears Will the US CPIs corroborate the market’s implied Fed rate path? The US dollar staged a decent recovery during the first week of the year, with market participants scaling back some basis points worth of rate reductions expected by [..]

Technical Analysis – GBPUSD recovers somewhat near 1.2700

Posted on January 4, 2024 at 1:52 pm GMT

GBPUSD attempts to rebound 20-day SMA provides support RSI remain cautiously tilted to the upside GBPUSD has been in a steady uptrend since the end of December in the short term and reached a new five-month high of 1.2825 on December 28. Moreover, the pair showed some signs of life lately, as it jumped above the 20-day simple moving average (SMA) again. The RSI is moving north above the 50 level; however, the MACD is declining in the positive territory, suggesting weakening upside [..]

Market Comment – New Year selloff eases despite Fed ambiguity, dollar falls back

Posted on January 4, 2024 at 10:25 am GMT

Fed minutes dent hopes of early rate cut but markets perk up anyway Higher services PMIs lift sentiment in Europe and Asia, boosting US futures too Dollar rebound pauses for breath, oil jumps on supply concerns Fed rate cut bets little changed after December minutes Markets wavered after the Fed published the minutes of its December policy meeting on Wednesday as investors weighed the prospect of rate cuts amid mixed signals from policymakers. The minutes gave no indication that rate [..]

Technical Analysis – GBPUSD begins 2024 in a muted tone

Posted on January 2, 2024 at 9:10 am GMT

GBPUSD pares some gains after posting a 4-month peak But remains within its upward sloping channel Positive bias holds as momentum indicators are skewed to the upside GBPUSD had been forming a profound structure of higher highs following its break above a crucial descending trendline in early November. Although the pair’s rally has temporarily paused at the four-month peak of 1.2826, the impending completion of a golden cross between the 50- and 200-day simple moving averages (SMAs) could infuse upside pressures. Given [..]

Technical Analysis – GBPUSD halts advance but retains bullish structure

Posted on December 29, 2023 at 8:33 am GMT

GBPUSD pares some gains after posting a 4-month peak Positive bias holds as momentum indicators are skewed to the upside GBPUSD had been forming a profound structure of higher highs following its break above a crucial descending trendline in early November. Although the pair’s rally has temporarily paused at the four-month peak of 1.2826, the impending completion of a golden cross between the 50- and 200-day simple moving averages (SMAs) could infuse upside pressures. Given that both the RSI and MACD are [..]

Market Comment – Stocks flirt with record highs as rate cut bets run wild

Posted on December 27, 2023 at 10:07 am GMT

Softer-than-expected PCE inflation boosts early rate cut hopes Global shares rise after S&P 500 comes within a whisker of its all-time high Yen slips as BoJ hints at no imminent policy change, dollar muted on depressed yields Stocks get another gift from Santa Equities look set to end the year in buoyant form as the disinflation theme continues to fuel the rally in global risk assets. Shares on Wall Street extended their year-to-date gains on Tuesday after the final major [..]

Technical Analysis – GBPUSD drifts lower after CPI miss

Posted on December 20, 2023 at 3:10 pm GMT

GBPUSD trims latest bounce after CPI miss Sellers could take control of the market below 1.2614 GBPUSD flipped backwards after UK CPI inflation figures dropped faster than analysts expected, emboldening rate cut predictions for 2024. The pair erased Tuesday’s rebound in the aftermath, but the 20-day simple moving average (SMA) calmed bearish forces around 1.2630. The 23.6% Fibonacci retracement of the October upleg could also provide a safety net at 1.2614, blocking the exit from the bullish channel. If not, [..]

Market Comment – Stocks hit new records on rate cut excitement

Posted on December 20, 2023 at 9:47 am GMT

Dow Jones and Nasdaq 100 cruise to new record highs British pound drops as inflation cools off, yen stabilizes Supply concerns lift oil prices, gold gains some ground Party on Wall Street It’s been a stellar year for stock markets. The Dow Jones and Nasdaq 100 both closed at fresh record highs yesterday, despite some pushback from Fed officials who warned that markets are getting ahead of themselves in pricing in such heavy rate cuts for next year. Investors are [..]

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