All Articles Tagged - GBPUSD

US Open Preview– Pound slips after BOE meeting; stocks weaker; ECB rate decision ahead

Posted on December 14, 2017 at 12:47 pm GMT

Here are the latest developments in global markets: FOREX: The pound hit a one-month high at $1.3463 in the wake of better than expected retail sales in November. However, it soon slipped back to 1.3420 after the BOE held rates steady but signaled that GDP growth in Q4 “might be slightly softer than in Q3”. The euro rebounded to $1.1830 finding support from upbeat preliminary manufacturing PMI readings for the month of December, while versus the pound it inched up to [..]

European Open Preview – Jobs report lifts aussie; ECB and BoE eyed

Posted on December 14, 2017 at 8:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was little changed after recording sharp losses the previous day as investors expected a more hawkish rate outlook by the Federal Reserve. The aussie was on a positive footing versus the greenback after better-than-anticipated employment figures. STOCKS: The Nikkei 225 finished lower by 0.3% and the Hang Seng was last down by 0.3%; most major Asian benchmarks headed lower though losses were limited. Euro Stoxx 50 futures traded [..]

Euro and pound at risk from surprises as ECB and BoE meetings seen as non-events – Forex News Preview

Posted on December 13, 2017 at 4:11 pm GMT

Monetary policy meetings by the European Central Bank and the Bank of England this week have had their limelight stolen by the US Federal Reserve, which is expected to move on rates while no action is anticipated from the ECB and the BoE. Both central banks took historic decisions at their last respective meetings, with the ECB halving its monthly asset purchases from January 2018 and the BoE raising its benchmark rate by 25 basis points to 0.50% – the [..]

US Open Preview– Dollar steadies ahead of Fed rate decision; European stocks mostly down

Posted on December 13, 2017 at 1:07 pm GMT

Here are the latest developments in global markets: FOREX: The dollar remained flat near intraday lows, last trading around 113.30 versus the yen (-0.21%), as the Democrats Senate win in Alabama weakened Republicans’ majority, threatening the Trump administration’s future economic agenda. The pound climbed higher towards 1.3350 (+0.23%) after the UK employment data showed that in the three months to October, earnings excluding bonuses surprisingly inched up on a yearly basis, while the unemployment rate stood flat at a four-decade low. [..]

European Open Preview – Dollar falls as Senate Republicans weaken; Fed meeting, US & UK data in focus

Posted on December 13, 2017 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar was losing ground relative to majors after Republicans lost a Senate seat in Alabama, resulting in a narrower Senate majority for them. Still, there were no sharp movements amongst majors as European traders were starting their trading day, with markets awaiting fresh catalysts to place their positions on a data-busy day. STOCKS: Japanese equities retreated with the Nikkei 225 losing 0.5%; major Asian benchmarks outside Japan were posting gains [..]

US Open Preview– Pound gives up gains after UK inflation; dollar awaits US PPI

Posted on December 12, 2017 at 11:56 am GMT

Here are the latest developments in global markets: • FOREX: UK headline CPI picked at a fresh six-year high of 3.1% y/y in November, increasing the odds for further rate hikes in the coming years as the BOE wishes to bring inflation back to its target of 2.0%. The pound jumped to a session high of $1.3379 but soon fell back to $1.3310 (-0.04%). as investors remained cautious on the squeezed wage growth. The euro slipped to $1.1774 but remained [..]

European Open Preview – Dollar steady ahead of UK and US data; kiwi continues rising

Posted on December 12, 2017 at 8:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar was little changed against a basket of currencies ahead of a two-day meeting by the Federal Reserve that is to commence later in the day. The New Zealand dollar maintained positive momentum from yesterday, rising to its highest in a month relative to the greenback. STOCKS: The Nikkei 225 finished 0.3% lower, but still remained close to its highest since early 1992; the Hang Seng was last 0.6% down [..]

Technical Analysis – GBPUSD consolidates recent gains; risk of more weakness

Posted on December 12, 2017 at 7:08 am GMT

GBPUSD has been neutral since last week following a rise from near the 1.3000 level to a high of 1.3549 hit on December 1. The market is consolidating these recent gains and price action remains above the previous two months’ range. The 50 and 200- day moving averages are positively aligned. However, near-term risk is tilted to the downside, as RSI has been falling. There is immediate support at the 38.2% Fibonacci retracement level (1.3320) of the upleg from 1.2773 [..]

UK inflation expected to remain at multi-year high; implications for BoE and sterling – Forex News Preview

Posted on December 11, 2017 at 3:27 pm GMT

The UK will see the release of November inflation figures at 0930 GMT on Tuesday. Annual inflation is expected to grow by 3.0%, the same more-than-five-year-high pace that was recorded in October and September. The pace of inflation has implications for the rate hike path that is to be implemented by the Bank of England. Month-on-month, CPI is anticipated to have grown by 0.2% in November, exceeding the 0.1% pace that was recorded in October, while the 3.0% y/y rate [..]

US Open Preview– Dollar weaker ahead of JOLT’s job openings; stocks hold strong

Posted on December 11, 2017 at 12:08 pm GMT

Here are the latest developments in global markets: FOREX: The pound was steady around $1.3385 despite May saying there is a new “sense of optimism” in the Brexit talks on Monday after she satisfied the European Commission’s demand last week on the three key divorce elements. However, the outline agreed must be voted by all European members at Thursday’s summit for negotiations to move officially to trade discussions. The dollar was weaker against a basket of major currencies as investors [..]

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