All Articles Tagged - GBPUSD

US Open Preview– Eurozone data push euro and stocks higher; ADP employment report in focus

Posted on January 4, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: Upbeat data on December’s composite PMI for the Eurozone published on Thursday lifted euro/dollar towards 1.2052 (+0.32%), reversing most of yesterday’s losses as the figures suggested a faster Q4 growth for the region. Pound/dollar also gained from better-than-expected survey data, rising to 1.3554 (+0.24%). The dollar, on the other hand, was in the backfoot against six major currencies at 91.95 (-0.23%) unable to gain further from Wednesday’s economic numbers and Fed meeting [..]

European Open Preview – Greenback regains some composure while US stock indices close at records; US ADP employment due

Posted on January 4, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded 0.1% lower against a basket of major currencies during the Asian trading session Thursday, after posting gains on Wednesday. STOCKS: All three major US equity indices (Dow Jones, S&P 500, Nasdaq Composite) closed at fresh record highs yesterday, buoyed by optimism around the US economy following strong data releases and a cheerful tone in the FOMC minutes. Futures tracking the Dow, S&P and Nasdaq 100 are currently [..]

US Open Preview – Euro loses ground but remains above $1.20; FOMC minutes awaited

Posted on January 3, 2018 at 12:09 pm GMT

Here are the latest developments in global markets: FOREX: The dollar posted some gains to climb further above a 3½-month low versus a basket of currencies hit on Tuesday. The euro eased versus the greenback despite the release of positive jobs data out of Germany, while pound/dollar lost some ground following the release of construction PMI figures that came in below analysts’ expectations; the pair previously crossed above the 1.36 handle to record its highest since late September. STOCKS: European [..]

European Open Preview – Dollar slightly above 3½-month lows ahead of Fed minutes; sterling flirts with $1.36

Posted on January 3, 2018 at 8:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded slightly higher versus a basket of currencies after yesterday reaching its lowest since late September. The euro retreated a bit versus the dollar after trading around three-year high levels on Tuesday. STOCKS: Hong Kong’s Hang Seng was 0.1% higher, trading at its highest in a decade. Other major Asian indices were in the green, while Japanese markets were closed for a holiday. Euro Stoxx 50 futures were up [..]

US Open Preview– Dollar on the backfoot; Auto shares drag European stocks lower

Posted on January 2, 2018 at 12:17 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was the worst performer among its major peers during early European trading hours as optimism on the Eurozone’s economic outlook and doubts over the effect of the US tax overhaul pushed the dollar index down to a three-month low of 91.75 (-0.29%). Euro/dollar approached a four-month peak at 1.2084 (+0.47%) and dollar/yen tumbled to 112.16 (-0.41%). Pound/dollar held strong above 1.35 (+0.30%) despite disappointing data on Markit UK manufacturing [..]

European Open Preview– Dollar continues to tumble as commodities extend gains; Manufacturing PMIs in focus

Posted on January 2, 2018 at 8:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded lower against a basket of major currencies, with the dollar index touching a 3-month low. STOCKS: Asian markets started the year on a strong footing, with Hong Kong’s Hang Seng being up nearly 1.9%, while China’s CSI 300 was 1.40% higher, possibly boosted by the better-than-expected Chinese Caixin manufacturing PMI for December released earlier. In Japan, equity markets (Nikkei 225, Topix) will remain closed until Thursday. At 0732 [..]

Technical Analysis – GBPUSD has room for more upside following break above 1.3500

Posted on January 2, 2018 at 7:18 am GMT

GBPUSD has held a neutral bias since late November, trading in a range between 1.3300 and 1.3550. The outlook is neutral as long as the market remains in the resistance zone between 1.3500 and the September 20 peak of 1.3656. Near-term risk is to the upside after GBPUSD bounced off 1.3300, a level that was tested a few times in mid-December, proving to be a strong support level. If this support holds, more sideways trading is expected in the near term until prices [..]

US Open Preview– Dollar index tumbles to 3-month low; FTSE at fresh record highs

Posted on December 29, 2017 at 11:21 am GMT

Here are the latest developments in global markets: FOREX: The dollar index stretched its downtrend toward a fresh three-month low of 92.34 (-0.26%) as investors stood less confident on the outlook of the US economy, while gains in the euro and the pound pressured the index even further. Euro/dollar hit a three-month high of 1.1986 (+0.33%) and pound/dollar (+0.41%) surged to a three-week high of 1.3511. The kiwi, the aussie and the loonie drifted higher relative to the greenback to levels last seen in October. STOCKS: [..]

Technical Analysis – GBPUSD sees strengthening bullish momentum in near-term

Posted on December 29, 2017 at 10:17 am GMT

GBPUSD is edging sharply higher since last Wednesday, adding around 1% relative to Tuesday’s close and being well on track to post its fourth green day in a row. The price is still trading comfortably above the ascending trend line, which is roughly holding since March and is currently approaching the next immediate resistance level at 1.3550. The current risk is to the upside and the price could extend its gains to the 1.3655 barrier. On the downside, support could come around 1.33, this being an area of congestion recently as well as one [..]

European Open Preview – Dollar hits fresh one-month low; oil rises to highest since mid-2015

Posted on December 29, 2017 at 8:33 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded marginally lower against a basket of major currencies, touching its lowest level since late November. STOCKS: Japan’s Nikkei 225 closed lower, albeit by less than 0.1%, while Hong Kong’s Hang Seng was up by nearly 0.3%. Futures tracking the Euro Stoxx 50 were up 0.2%, while those tracking the Dow Jones, S&P 500 and Nasdaq were all higher by roughly 0.1%. The Dow yesterday finished at an all-time [..]

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