All Articles Tagged - GBPUSD

Stock Market Update – Markets pay little attention to N. Korean ICBM launch; Europe broadly up; FTSE hurt by rising sterling

Posted on November 29, 2017 at 11:10 am GMT

Asian equities didn’t seem much affected by a North Korean intercontinental ballistic missile launch (ICBM) that landed in the Sea of Japan, the first such launch in more than two months. The Japanese Nikkei 225 and the Topix indices finished higher by 0.5% and 0.8% respectively. Hong Kong’s Hang Seng lost 0.2% and the Shanghai Composite gained 0.1%. The South Korean Kospi declined by 0.05%. Australia’s S&P/ASX 200 advanced by 0.45%. Markets not paying much attention to Pyongyang’s latest move [..]

Forex Market Review (Asian Session) – Dollar ignores North Korean missile; pound rallies on reports of Brexit bill agreement

Posted on November 29, 2017 at 8:46 am GMT

The pound rallied on foreign exchange markets on reports that the UK and the EU had agreed on a Brexit bill while the US dollar and risk sentiment more generally were helped by the passage of the Republican tax cut package through a Senate committee. These developments helped markets shake off worries about a new missile test from North Korea. The North Korean military tested a new type of missile which flew higher than any other previous projectiles launched by [..]

Forex Market Review (European Session) – Dollar moves higher as US consumer confidence touches 17-year high; Irish worries ease

Posted on November 28, 2017 at 3:49 pm GMT

The day’s main release pertained to US consumer confidence figures released late in the session. Those came in at a multi-year high, creating a positive backdrop for the greenback for the remainder of the day. Beyond this, new Fed chief Jerome Powell appearing before US senators, US tax reform deliberations and developments that could affect the outcome of Brexit negotiations were also gathering attention. Powell’s confirmation hearing before the Senate Banking Committee has begun at 1500 GMT, with senators having [..]

Forex Market Review (Asian Session) – US dollar keeps tax-related gains ahead of Powell confirmation hearings

Posted on November 28, 2017 at 8:34 am GMT

The US dollar was consolidating its gains from the previous day when hopes for tax reform were rekindled by an optimistic tweet by President Trump. Euro/dollar was pushed back below 1.19 as the single currency showed it was not yet ready for a test of the key psychological 1.20 level. The previous day’s high was 1.1961 – a more than 2-month high – but the euro was last trading at 1.1888. Dollar/yen also reflected some strength by the greenback as [..]

Technical Analysis – GBPUSD maintains positive outlook above 1.30

Posted on November 28, 2017 at 7:17 am GMT

GBPUSD is pivoting around its 50-day moving average, remaining mostly neutral for now, with risk tilted to the upside. The corrective move of the uptrend to 1.3656 appears to have stabilized above the key 1.3000 level after the sell-off from September 20 to October 6 has turned into a consolidation phase. The outlook is positive since the market has held above 1.3000 and has also crossed above its 50-day MA. Prices have broken above what was a key resistance level at the [..]

Forex Market Review (Asian Session) – Dollar pressured by risk-off, looming Senate tax vote; Euro hits fresh 2-month high

Posted on November 27, 2017 at 8:51 am GMT

Asian markets had a poor start to the week as sentiment was dampened by sliding stocks in China and South Korea and uncertainty ahead of the Senate vote on the Republican’s tax plan later this week. Investors were also cautious ahead of a busy data week for the major economies. The yen was the biggest beneficiary of today’s risk aversion, rising against most of its major peers, while the US dollar wallowed at two-month lows against a basket of currencies. [..]

Forex Market Review (European Session) – Euro shines as SPD agrees to resume coalition talks; dollar sinks to two-month low

Posted on November 24, 2017 at 4:25 pm GMT

Euro bulls pushed the euro to a fresh two-month high during the European session after upbeat readings on German business climate improved sentiment on the Eurozone’s outlook and political risks in Germany eased. The dollar weakened even further amid a strengthening euro, while disappointing PMI readings added further losses to the currency. Business confidence in Germany reached new record highs in November, with the headline business climate index jumping by 0.9 points to 117.5 compared to the expected 116.6. Businesses also remained optimistic about their activities over the next [..]

Forex Market Review (Asian Session) – Euro strong on improved Eurozone sentiment; pound flat as May heads to Brussels

Posted on November 24, 2017 at 8:56 am GMT

With markets remaining partially closed on Friday for the Thanksgiving holiday week, the dollar was firmer in Asia, gaining on rising Treasury yields. In Japan, however, investors who also had a day off on Thursday, returned to their offices, pushing the yen lower as Japanese and Chinese stocks traded higher after a strong sell-off on Thursday. The dollar index, which gauges the dollar’s strength against six major currencies, rose slightly from two-month lows on Thursday to 93.19 as US Treasury yields inched up late on Thursday. However, concerns over [..]

Forex Market Review (European Session) – Euro boosted on upbeat PMI figures; dollar index records 6-week low

Posted on November 23, 2017 at 3:44 pm GMT

The euro was on the rise during today’s European trading relative to major other currencies as preliminary November eurozone PMI figures surprised to the upside. The greenback was on a negative footing after markets interpreted the Fed minutes from its latest meeting as being on the dovish side, while the Canadian dollar lost ground after retail sales out of the country came in below analysts’ projections. At 1525 GMT, the dollar’s index against a basket of currencies was 0.1% lower [..]

Special Report – Hammond plans for post-Brexit Britain; Pound lifted above $1.33

Posted on November 23, 2017 at 12:17 pm GMT

The UK Chancellor of the Exchequer, Philip Hammond, unveiled his 2017 budget in parliament on Wednesday, which put the focus on investing for the future as Britain readies to leave the European Union. With the Conservative government still trying to bring under control a financial crisis era debt hangover, Hammond had little room for big giveaways. Instead, Hammond used his first budget after the disastrous June elections to plan for the future, with the housing market and business investment taking [..]

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