All Articles Tagged - GBPUSD

Market Comment – Dollar claws back some losses as relief rally fades

Posted on November 16, 2023 at 10:11 am GMT

Fed rate cut bets scaled back after upbeat US data Wall Street rally loses steam, dollar edges up as yields rebound Global growth worries and disappointing US-China summit also dent mood Post-CPI euphoria fizzles out Equities were muted while the greenback was broadly firmer on Thursday as the relief rally on the back of this week’s cooler-than-expected US CPI readings lost steam following some not-so-soft data yesterday. Treasury yields regained their footing to bounce higher from the CPI-led slump as [..]

Technical Analysis – GBPUSD retreats from 1.2500

Posted on November 15, 2023 at 1:32 pm GMT

GBPUSD remains above 200-day SMA despite the recent sell-off Still bullish in near term MACD extends its upside momentum GBPUSD is losing some ground after the aggressive buying interest that took place on Tuesday, adding 250 pips and surpassing the 1.2500 round number. The price surged also above the 200-day simple moving average (SMA) but is currently trying to visit it again. The RSI is confirming the recent downside correction as it points down after the strong push towards the [..]

Market Comment – Dollar tumbles on cooler-than-expected US inflation

Posted on November 15, 2023 at 9:36 am GMT

Slowing US inflation confirms view that Fed is done with hikes Aussie and kiwi gain the most on bolstering risk sentiment Pound pulls slightly back on lower-than-expected UK inflation Wall Street rallies as investors cheer US inflation data US CPI numbers support ‘Fed is done’ narrative The dollar tumbled across the board yesterday after cooler than expected US inflation data added more credence to investors’ belief that the Fed’s tightening crusade is over, despite Chair Powell and his colleagues pushing [..]

Market Comment – Yen hits fresh low as focus turns to US CPI data

Posted on November 14, 2023 at 9:33 am GMT

Yen spikes, but ends Monday as the main loser Dollar traders lock gaze on US inflation data UK jobs report beats estimates, CPIs the pound’s next test Wall Street ends mixed, awaits US CPI figures Dollar/yen nearly touches October 2022 high The US dollar traded mixed against its major counterparts on Monday, losing ground against the pound, the aussie, and the euro, while gaining the most against the yen. Dollar/yen continued drifting north during most of the day, almost touching [..]

Technical Analysis – GBPUSD enters Ichimoku cloud after claiming 50-SMA

Posted on November 14, 2023 at 8:44 am GMT

GBPUSD breaks out of triangle but 200-day SMA curbs advance Despite a mild pullback, the bulls conquer the 50-day SMA Oscillators suggest that positive momentum is picking up GBPUSD had been forming a profound structure of lower highs and lower lows since its 18-month peak of 1.3141. Although the pair’s latest attempt to recoup some losses got rejected by the 200-day simple moving average (SMA), buyers managed to halt the retreat and reclaim the 50-day SMA. Should buying interest intensify further, [..]

Weekly Technical Outlook – EURUSD, GBPUSD, AUDUSD

Posted on November 13, 2023 at 11:09 am GMT

EURUSD stays above key barrier of 1.0665 ahead of US CPIs Hotter-than-expected UK inflation could push GBPUSD above 1.2310 AUDUSD awaits Australia’s jobs report and Chinese data US CPI data -> EUR/USD The US CPI data comes out on Tuesday and expectations are for the headline rate to have declined to 3.3% y/y from 3.7%, while the core rate is expected to have remained close to September’s 4.1%. That said, considering that the PMIs for October suggested softer price pressures, [..]

Market Comment – Yen continues to sink, stock markets power higher

Posted on November 13, 2023 at 9:40 am GMT

Yen falls to lowest levels in a year as stock markets soar Dollar mostly ignores Moody’s credit outlook downgrade Gold nurses losses, waiting for tomorrow’s US inflation stats Yen drifts lower It’s been another devastating year for the Japanese yen, which has lost nearly 14% of its value against the US dollar so far, crumbling under the weight of interest rate differentials. The yen has now fallen back to the levels that forced Tokyo to intervene in the FX market [..]

Week Ahead – US and UK inflation data to take center stage

Posted on November 10, 2023 at 12:20 pm GMT

US inflation numbers the next event to shake up Fed bets Pound traders lock gaze on CPIs after BoE’s hawkish hold Aussie awaits jobs report and Chinese data, Japan’s GDP also on tap Can US CPIs convince investors about one more Fed hike? After taking a strong hit last Friday due to the disappointing US employment report, the dollar staged a shy recovery this week as several Fed officials noted that the stellar performance of the US economy keeps the [..]

Market Comment – Fed chief interrupts stock market rally, lifts dollar

Posted on November 10, 2023 at 10:03 am GMT

Fed chief Powell says ‘won’t hesitate’ to tighten further Dollar extends recovery as US yields rise, pushing equities down Gold gains despite unfavorable setup – central bank purchases? Dollar gets a boost by hawkish Powell Federal Reserve officials have been out in droves this week, highlighting the extraordinary strength of the US economy and stressing that interest rates might need to be raised further to bring inflation back under control. It appeared like a coordinated attempt by policymakers to steer [..]

Technical Analysis – GBPUSD erases post-NFP rally

Posted on November 9, 2023 at 2:23 pm GMT

GBPUSD loses shine after hitting 200-SMA Short-term bias weakens; support at 1.2260 GBPUSD has trimmed more than half of its recent NFP-inspired breakout following its pullback from its 200-day simple moving average (SMA) at 1.2430. The technical indicators are backing the negative momentum in the price as the bears are pushing for a close below the constraining line from May 2021 at 1.2260. Yet, with the RSI standing marginally above its 50 neutral mark, there is a ray of hope that [..]

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