All Articles Tagged - GBPUSD

European Open Preview – Dollar broadly stronger on Powell’s optimistic remarks; UK inflation eyed

Posted on July 18, 2018 at 7:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar continued gaining versus a basket of currencies on Wednesday after rising by a bit less than 0.5% the previous day. Upbeat comments on the US economy by Fed Chief Jerome Powell acted as the catalyst for the greenback’s advance, as well as fueling risk sentiment. In light of the risk-on mood, the yen retreated, with dollar/yen reaching a fresh six-month high of 113.07 earlier on the day. STOCKS: The [..]

UK inflation & retail sales next to give direction to the pound – Forex News Preview

Posted on July 17, 2018 at 3:49 pm GMT

With the UK jobs report coming in line with forecasts, with the unemployment rate remaining at its lowest since the 1970s and average earnings inching down, the next challenge for sterling will come on Wednesday when the Office for National Statistics is scheduled to report June’s inflation readings before it updates retail sales figures for the same month on Thursday. While inflation is said to rebound again, potentially raising expectations for higher interest rates in August, policymakers could think twice before proceeding with a rate hike as retail sales could indicate that consumers are not ready for [..]

US Open Preview – Dollar firmer versus yen ahead of Powell’s testimony

Posted on July 17, 2018 at 11:38 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading higher at 112.48 against the Japanese yen (+0.20%) ahead of the Federal Reserve Chairman Jerome Powell’s semi-annual testimony on the economy and monetary policy. Overall, the dollar index was weaker against a basket of six major currencies (-0.03%) and is set to post the third consecutive negative day. Pound/dollar touched a session high of 1.3267 after the Office for National Statistics revised April’s average earnings index (including bonuses) from [..]

European Open Preview – Dollar pulls back ahead of Powell’s testimony; UK jobs data in focus

Posted on July 17, 2018 at 7:42 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by 0.14% on Tuesday, ahead of a testimony by Fed Chairman Jerome Powell before the US Senate at 1400 GMT. Elsewhere, kiwi/dollar is up by 0.77%, following encouraging core inflation data out of New Zealand overnight. STOCKS: US markets closed mixed on Monday. While the Dow Jones managed to advance by 0.18%, the S&P 500 and the Nasdaq Composite edged lower by 0.10% and 0.26% respectively. Something similar appears [..]

Technical Analysis – GBPUSD turns to sideways channel in Bollinger Band; neutral bias in short term

Posted on July 17, 2018 at 6:36 am GMT

GBPUSD has been trading in a neutral mode over the last couple of days after the rebound on the lower Bollinger Band near 1.3100 on July 13. The price seems to be losing its strong negative momentum as the Bollinger Band is narrowing and suggests that the next movement will be sideways. It is worth mentioning that the cable is still developing below the 23.6% Fibonacci retracement of the downleg from 1.4375 to 1.3050, around 1.3360. In the daily timeframe, the technical indicators are recommending [..]

UK jobs and wage figures eyed by Pound amid Brexit turmoil – Forex News Preview

Posted on July 16, 2018 at 3:03 pm GMT

The UK’s Office for National Statistics will publish its latest stats on the labour market on Tuesday at 08:30 GMT. The report will be the first of three major releases out of the UK this week, which come just a fortnight before the Bank of England’s August monetary policy meeting. With rate hike expectations rising to above 70% in recent weeks, those odds could be given an additional boost if this week’s data further reinforces the view that the first [..]

US Open Preview – Dollar weakens ahead of US retail sales; oil on the backfoot

Posted on July 16, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading below the 6-month high of 112.79 today against the Japanese yen, but managed to add some gains to its daily performance (+0.02%) ahead of the release of the US retail sales later in the day. The dollar index, which gauges the greenback’s strength versus six major currencies, moved lower by 0.24%. Pound/dollar rebounded sharply from near the 1.3101 barrier on Friday and drove the price even further to 1.3265 (+0.24%) on Monday. Meanwhile, euro/dollar climbed [..]

European Open Preview – Pound rebounds ahead of busy week; US retail sales in the spotlight

Posted on July 16, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.1% on Monday, extending the losses it posted in the previous session as longer-term US Treasury yields tumbled. The Japanese yen, meanwhile, is slightly lower against all its major counterparts on Monday, amid a lack of escalation in trade tensions. STOCKS: US markets closed higher on Friday, as trade concerns remained out of the spotlight. The Dow Jones led the way up, gaining 0.38%, while the S&P 500 advanced [..]

Week Ahead – China GDP eyed amid escalating trade row; inflation data to dominate

Posted on July 13, 2018 at 12:43 pm GMT

China will publish second quarter growth figures next week, putting the focus on China’s economy which has been under attack by the Trump administration. Inflation numbers from Canada, Japan, New Zealand and the United Kingdom will also come under the spotlight, as well as employment reports out of Australia and the UK. It will be a quieter week for the United States where only a handful of releases are due, but investors will be watching for President Trump’s next move [..]

Special Report – Theresa May seeks a compromise on Brexit, but will the EU listen?

Posted on July 13, 2018 at 12:42 pm GMT

The past days have been a wild ride for the British pound, with the Brexit saga receiving multiple new chapters. Key Brexiteer ministers have resigned, and while this has been interpreted as a negative in the sense that it threatens Theresa May’s position as PM and hence increases the likelihood for a no-deal Brexit, it also provides a unique opportunity for the EU-UK negotiations to move forward. In a rather dramatic start to the week, the Brexit narrative came back [..]

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