All Articles Tagged - GBPUSD

Market Comment – Dollar and oil extend slide ahead of busy week

Posted on November 27, 2023 at 10:20 am GMT

Major pairs and gold climb to new highs as dollar sags Inflation data and Fed speakers awaited for direction Oil drifts lower ahead of OPEC+ decision Markets cautiously optimistic ahead of key data Trading got off to a cautious start on Monday as investors awaited fresh clues on inflation and the Fed policy path in what looks set to be a more eventful week following the Thanksgiving lull. Although Fed rate cut expectations have been scaled back from around 100 [..]

Market Comment – Dollar pulls back ahead of PMIs

Posted on November 24, 2023 at 9:06 am GMT

Dollar pulls back on Thanksgiving as Fed cut bets weigh Focus today turns to the preliminary S&P Global PMIs Japan’s CPIs accelerate, corroborating a BoJ policy exit next year Gold gains, oil loses more ground on OPEC delay Fed rate cut bets weigh on the dollar, PMIs on tap The US dollar turned south again yesterday and continues to underperform against some of its major peers today. Without any important release or news to drive the greenback as US markets [..]

Market Comment – Oil steadier after nose-dive, dollar pulls back in thin trade

Posted on November 23, 2023 at 10:18 am GMT

Oil plunges on OPEC+ meeting delay, sparking rally in US dollar But dollar resumes decline today as rivals advance on easing gloom Stocks mostly positive in holiday-thin trade Oil prices whipsaw on OPEC+ speculation Markets were hit by some unforeseen turbulence on Wednesday as oil prices plummeted on OPEC’s announcement that Sunday’s meeting has been postponed to November 30. This month’s output decision was already building up to be a major one as the OPEC and non-OPEC alliance was expected [..]

Technical Analysis – GBPUSD unlocks new 2-month peak

Posted on November 22, 2023 at 1:50 pm GMT

GBPUSD continues the upside rally above 1.2500 200-day SMA looks strong support level now MACD extends the bullish momentum GBPUSD is looking ready to continue its bullish trend in the short-term timeframe, as it is posting its fourth consecutive green day, breaking beyond the 200-day simple moving average (SMA) and the critical 1.2500 level. Furthermore, the pair reached its highest level in two months, with technical oscillators indicating growing upside momentum. The RSI is slightly below the overbought territory and [..]

Market Comment – Fed minutes halt dollar’s drop

Posted on November 22, 2023 at 9:37 am GMT

Dollar breathes as Fed minutes confirm ‘higher for longer’ view BoE’s Bailey pushes sterling higher, Autumn Statement on tap Wall Street traders find opportunity for profit taking Gold continues to march north, moves above $2,000 Dollar takes a breather after Fed minutes The wounded dollar showed signs of stabilizing against most of its major peers, after the minutes from the latest FOMC decision suggested that policymakers were willing to maintain a restrictive policy for some time, but also that interest [..]

Technical Analysis – GBPUSD accelerates to fresh 2-month high

Posted on November 21, 2023 at 7:14 am GMT

GBPUSD overcomes 1.2500 key barrier RSI and MACD continue bullish bias The 20- and 50-day SMAs posted positive cross GBPUSD is looking to resume its bullish trend as the price is creating the third consecutive green day, surpassing the 200-day simple moving average (SMA) and the 1.2500 psychological mark. Also, the pair rose to its highest level of the last two months, with the technical oscillators suggesting strengthening upside momentum. The RSI is above its 50 neutral mark and is approaching the overbought region, continuing [..]

Weekly Technical Outlook – US 500, GBPUSD, USDJPY

Posted on November 20, 2023 at 10:05 am GMT

US 500 muted ahead of FOMC minutes GBPUSD meets key levels awaiting Eurozone’s and UK PMIs Japanese inflation may drive USDJPY even lower? FOMC minutes –> US 500 The FOMC minutes are one of the highlight events of the week, coming up on Tuesday instead of Wednesday due to the Thanksgiving holiday on Thursday in the US. During this meeting, the Federal Reserve opted to maintain interest rates at their current level and adopted a neutral stance. They emphasized the uncertainty about whether or not [..]

Week Ahead – Fed minutes and Eurozone PMIs on the menu

Posted on November 17, 2023 at 11:46 am GMT

Fed minutes on Tuesday will be scrutinized for clues on rate path Eurozone business surveys to shed some light on recession risks Japanese inflation stats also in focus as yen attempts to recover Bruised dollar awaits FOMC minutes It’s been a tough month for the US dollar. A string of disappointing data releases coupled with an announcement that the Treasury will shift its debt issuance towards shorter-dated maturities came together to engineer a heavy decline in US bond yields, [..]

Has the dollar rally run its course? – Special Report

Posted on November 17, 2023 at 11:24 am GMT

Dollar slides as investors pencil in 100bps worth of Fed rate cuts US economy is expected to slow, but still fare better than its major peers Fed likely to begin rate reductions next year, but ECB may cut earlier Aussie the most likely candidate to outperform the greenback Jobs and inflation data hurt the dollar The US dollar suffered a major blow this week after the US CPI data revealed that inflation cooled by more than anticipated in October, adding [..]

Market Comment – Rate cut bets intensify as oil plunges, but Wall Street wobbles

Posted on November 17, 2023 at 10:15 am GMT

Markets think the Fed is done after US data misses Selloff in crude oil further fuels rate cut bets amid supply glut fears But dollar seesaws while earnings caution weighs on stocks Fed expected to cut by 100bps in 2024 Fed tightening expectations suffered a further blow on Thursday after some weak data releases in the United States put the final nail in the coffin on the likelihood of another rate increase. More importantly, investors ratcheted up their bets of [..]

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