All Articles Tagged - GBPUSD

Volatility Report – December 19, 2023

Posted on December 19, 2023 at 10:29 am GMT

EUR/USD volatility eases aggressively, major JPY crosses remain in turbulent waters Gold and oil volatility at their midpoints, silver expected to experience sizeable moves Volatility drops in stock indices except JP225; Bitcoin returns to calmer periods EUR/USD expected volatility dropped to the lowest level of the past 30 days as the market appears to be preparing for the much-needed break. However, volatility in yen crosses remains extremely elevated but it is eventually expected to embrace the festive spirit. In commodities, [..]

Market Comment – Yen sinks as BoJ stands pat, crude oil spikes on Red Sea attacks

Posted on December 19, 2023 at 10:16 am GMT

BoJ maintains easing bias, gives little away on pivot timing, pummelling the yen Oil futures jump before steadying amid supply fears from Red Sea missile strikes Wall Street extends winning streak despite some scaling back of rate cut bets BoJ stands pat, dents early rate hike hopes The Bank of Japan kept its policy settings unchanged on Tuesday, wrapping up the final round of policy decisions of the year by major central banks. Despite some speculation of a policy shift [..]

Technical Analysis – GBPUSD attempts to recoup some losses

Posted on December 19, 2023 at 7:46 am GMT

GBPUSD maintains weak bias in near term Falls from 4-month high MACD and RSI suggest horizontal move GBPUSD climbed to a new four-month high in the previous week, but it reversed lower again, falling beneath the 61.8% Fibonacci retracement level of the down leg from 1.3140 to 1.2035 at 1.2720. The next major support level for traders to have in mind is the 20-day simple moving average (SMA) at 1.2615, with the technical oscillators confirming another bearish wave. The MACD [..]

Weekly Technical Outlook – EURUSD, GBPUSD, Gold

Posted on December 18, 2023 at 10:26 am GMT

EURUSD’s 2023 performance looks muted GBPUSD tries to resume its uptrend in 2024 Gold shines in 2023 EURUSD: Euro faces another challenging year The dollar was under pressure at the start of the year due to expectations of a dovish Federal Reserve. However, those dismal predictions have not come true, and the dollar is anticipated to finish the year unchanged. Despite the near certainty of a Fed rate drop, EURUSD bulls may struggle to draw a higher trajectory. In 2023, [..]

Week Ahead – BoJ meets for the last time in 2023, US core PCE and UK CPIs also on tap

Posted on December 15, 2023 at 12:42 pm GMT

Yen traders await BoJ decision for pivot clues US core PCE index the highlight of the US agenda UK CPI numbers to be the pound’s next test Loonie and aussie await Canada’s CPIs and RBA minutes Will BoJ policymakers hint at the end of negative rates? Following a barrage of central bank decisions this week the end credits of major monetary policy decisions for 2023 will roll with the BoJ during the Asian session Tuesday. At their last meeting, policymakers [..]

Market Comment – Euro and pound surge as ECB and BoE diverge from dovish Fed

Posted on December 15, 2023 at 10:21 am GMT

ECB and BoE stick to hawkish stance as Fed becomes dovish outlier Euro and pound skyrocket before paring gains on weak PMIs Upbeat US data fail to deter dollar bears as yields continue to slide, stocks party No rate cut talk at the ECB and BoE Central banks in Britain and the euro area diverged from their US counterpart on Thursday, sidestepping any talk about rate cuts while reiterating the need to maintain higher rates for longer. The European Central [..]

Market Comment – Wall Street parties as Fed signals cuts, dollar tumbles

Posted on December 14, 2023 at 10:30 am GMT

Fed makes long-awaited pivot towards cutting rates, markets rejoice Dow Jones soars to new all-time high, S&P 500 approaches its previous record Dollar takes a dive as Treasury yields sink, gold rallies SNB also holds rates, ECB and BoE decisions coming up next Powell gives markets what they wanted The Federal Reserve left interest rates unchanged as expected on Wednesday but struck a somewhat more dovish tone than anticipated, spurring a powerful rally in bond and equity markets. In a [..]

Technical Analysis – GBPUSD declines near 1.2500

Posted on December 13, 2023 at 1:12 pm GMT

GBPUSD creates bearish correction Finds strong support at 200-day SMA GBPUSD failed to climb above the 20-day simple moving average (SMA) over the past five days and is falling back near the 1.2500 psychological mark, which holds near the 200-day SMA. Technically, the MACD is diving beneath its trigger line in the bullish region, while the RSI is slipping near the neutral threshold of 50, both indicating more losses in the short-term timeframe. If the price extends its recent pullback from [..]

Market Comment – Fed awaited as stocks jump, dollar slips after US CPI

Posted on December 13, 2023 at 10:02 am GMT

Dollar pressured from in-line CPI report as stocks extend rally But Fed rate cut expectations pared back slightly ahead of new Fed dot plot Fed to kickstart central bank bonanza Markets upbeat after CPI report as all eyes turn to Fed The Federal Reserve will kick off the barrage of central meetings on Wednesday as policymakers set interest rates for the final time in 2023. The European Central Bank, Bank of England and Swiss National Bank will announce their decisions [..]

Volatility Report – December 12, 2023

Posted on December 12, 2023 at 12:28 pm GMT

EUR/USD volatility in neutral zone, major JPY crosses in turbulent waters Gold and silver follow opposite volatility paths, oil remains quiet Volatility picks up in stock indices except S&P500; Bitcoin set for sizeable moves EUR/USD expected volatility remains subdued despite the crucial CPI print expected later today. Meanwhile, the Yen has disrupted a period of calmness across the currency board as its pairs are the only ones showing a jump in volatility relative to last week. In commodities, gold volatility is fading following [..]

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