All Articles Tagged - GBPUSD

Forex Market Review (European Session) – Dollar and pound bolstered by upbeat data ahead of rate decisions

Posted on November 1, 2017 at 3:30 pm GMT

The prevailing risk-on mood ahead of key risk events in the next few days lifted the US dollar and weakened the yen in European trading on Wednesday. Upbeat economic data also boosted the greenback along with the British pound. The aussie and kiwi were other notable gainers, while the euro joined the yen in being the day’s worst performers. Manufacturing PMI out of the UK was the main data release in Europe. The index rose from an upwardly revised 56.0 [..]

Forex Market Review (Asian Session) – US dollar awaits barrage of key risk events; kiwi soars on strong employment numbers

Posted on November 1, 2017 at 8:17 am GMT

The dollar was little changed ahead of a very heavy calendar the next three days, while the kiwi staged an impressive rebound following the release of strong employment numbers out of New Zealand overnight. The US dollar was definitely going to be in focus for the rest of the week due to the Fed meeting that ends later today, the announcement of the Fed Chair nominee by President Trump tomorrow and the October employment report to be released on Friday. [..]

Forex News – Preview – Markets poised for a dovish rate hike by Bank of England

Posted on October 31, 2017 at 4:06 pm GMT

The pound has been on an uptrend for much of 2017, led by a weaker dollar in the first half and by expectations of a UK rate rise in the second half. Its high of the year and post Brexit peak of $1.3656 was reached soon after the Bank of England’s September policy meeting when MPC members signalled “some withdrawal of monetary stimulus is likely to be appropriate over the coming months”. However, recent communication by some policymakers has been [..]

Forex Market Review (European Session) – Loonie falls sharply on GDP miss; pound boosted on Barnier; Eurozone readings mixed

Posted on October 31, 2017 at 3:26 pm GMT

The Canadian dollar lost ground versus its US counterpart as GDP figures unexpectedly reflected a contraction in the Canadian economy. Eurozone data on inflation, economic growth and unemployment out during today’s session gave a mixed picture. The pound moved higher after some comments by Michel Barnier, the EU’s chief Brexit negotiator, which suggested that Brexit talks are getting on the right path, while the dollar advanced following upbeat figures on consumer confidence. The dollar’s index against a basket of currencies [..]

Technical Analysis – GBPUSD maintains neutral bias in the short term between 1.31-1.33

Posted on October 31, 2017 at 7:20 am GMT

GBPUSD maintains a neutral bias in the short term and has been trading sideways in the 1.31 to 1.33 range during the past 3 weeks. Technical indicators on the daily chart are neutral, suggesting that broader range trading will continue for now. RSI and MACD are both moving sideways and are slightly in bearish territory. Based on Fibonacci analysis, the current range is between the 32.8% and 61.8% Fibonacci retracement levels of the upleg from 1.2773 and 1.3656. The pair [..]

Forex Market Review (European Session) – Strong US data fails to halt dollar pullback; pound perks up but euro still struggling

Posted on October 30, 2017 at 3:41 pm GMT

The US dollar continued to consolidate in European trading on Monday after recording fresh three-month highs on Friday. Speculation that President Trump is likely to opt for a dovish candidate to head the Fed triggered the greenback’s sell-off on Friday, while new political headaches for the White House further weighed on the US currency today. In European currencies, the euro attempted to move away from last week’s three-month lows but struggled to regain momentum. The pound was stronger however, as [..]

Week Ahead – Fed and BoJ meet but all eyes on BoE; US jobs also in focus

Posted on October 27, 2017 at 3:28 pm GMT

Central bank meetings will dominate the next seven days as the Bank of England, the Bank of Japan and the US Federal Reserve all hold their policy meetings. It will be a big week for economic indicators as well, as the Eurozone releases preliminary GDP figures and the October jobs report is out in the United States. Australian, New Zealand and Canadian data eyed after aussie, kiwi and loonie take a battering Political concerns in Australia and New Zealand have [..]

Forex Market Review (European Session) – Dollar flexes its muscles on GDP beat; euro headwinds on Catalan independence

Posted on October 27, 2017 at 2:59 pm GMT

The dollar was standing broadly higher relative to most other major currencies as US quarterly GDP estimates beat expectations. However, the US currency gave up part of its gains later in the session as, according to a report by Bloomberg, US President Donald Trump is leaning towards Federal Reserve Governor Jerome Powell – a perceived dove – to lead the Federal Reserve after current Fed Chair Janet Yellen’s term expires next year. News of Catalonia declaring independence from Spain during [..]

Stock Market News (European Open) – Weaker euro, sterling boost exporter-heavy European indices; DAX, CAC hit record highs; Chevron, Exxon eyed

Posted on October 27, 2017 at 10:00 am GMT

Out of Asia, the Nikkei 225 added 1.2% to close above the 22,000 mark for the first time since 1996. The Topix, Japan’s broader gauge of equity performance, gained 1.0% to finish at its highest since July 2007. The two exporter-heavy benchmarks were supported as dollar/yen was on the rise. The pair today touched 114.31, its highest since July 11. Hong Kong’s Hang Seng advanced 0.8% and the Shanghai Composite climbed by 0.3%. Australia’s S&P/ASX 200 lost 0.2%. The picture [..]

Forex Market Review (Asian Session) – Dollar stands tall ahead of GDP; euro records 3-month low on “dovish tapering”

Posted on October 27, 2017 at 7:51 am GMT

The US currency stood higher on the day as the Asian session was nearing completion, though barring a development that makes US tax reform more likely, that was mostly due to other majors’ weakness rather than any dollar specific factors. Market participants are awaiting the advance estimate of US third quarter GDP growth which is due at 1230 GMT. The dollar’s index against a basket of currencies was trading 0.3% up on the day, near the day’s high and not [..]

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