All Articles Tagged - GBPUSD

Forex Market Review (European Session) – Euro slips as ECB halves QE but keeps it open ended; dollar firms on reports Yellen is out of Fed race

Posted on October 26, 2017 at 2:54 pm GMT

The euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 yen level amid reports that incumbent Fed chief Janet Yellen was out of the race to lead the central bank. The European Central Bank announced it is extending its asset purchase program (APP) for [..]

Forex Market Review (Asian Session) – ECB in focus; dollar eases in need of fresh catalysts

Posted on October 26, 2017 at 7:44 am GMT

As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six major US trading partners, was 0.1% lower at 0737 GMT, falling for a third straight day and moving further below Monday’s three-week high of 94.02. [..]

Forex Market Review (European Session) – Pound rises on GDP, hike speculation; loonie declines on BoC inflation expectations

Posted on October 25, 2017 at 3:07 pm GMT

The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and retreating versus the euro, yen and of course sterling. At 1542 GMT, the dollar index, which gauges the greenback against the currencies of six major [..]

Stock Market News (European Open) – FTSE declines on rising sterling; Coca-Cola and Boeing to release results before US open

Posted on October 25, 2017 at 9:56 am GMT

Asian markets projected a mixed picture today with movements from major benchmarks being fairly limited. The Japanese Nikkei 225 and Topix indices finished the day lower by 0.45% and 0.3%, ending a 16- and 12-day streak of positive closes respectively (the longest on record for the Nikkei) that brought them to multi-year highs. Hong Kong’s Hang Seng gained 0.5% and the Shanghai Composite rose by 0.3%. Australia’s S&P/ASX 200 Index added 0.1%. In Europe, the pan-European Stoxx 600 was down [..]

Forex Market Review (European Session) – Dollar strengthens on tax reform hopes while sterling and kiwi face pressure

Posted on October 24, 2017 at 2:32 pm GMT

The US dollar did well versus a number of currencies on Tuesday as it gained significantly versus the pound, the kiwi and the aussie. The euro closely mirrored the dollar’s gains as traders are waiting for the outcome of the ECB meeting on Thursday before moving the world’s most traded foreign exchange pair: euro/dollar. The dollar was helped by optimism that tax reform in the United States was a feasible goal in the near-term for President Trump and Congress. An [..]

Technical Analysis – GBPUSD expected to continue consolidation phase in short-term after September’s decline

Posted on October 24, 2017 at 6:23 am GMT

GBPUSD has been maintaining a soft bias since peaking at 1.3656. The pair has managed to trade above the key 1.3000 level since declining from the September 20 high and this looks like a strong support level, which if broken would increase downside pressure. The market has mainly been pivoting around the 50% Fibonacci retracement level (1.3215) of the upleg from 1.2773 to 1.3656 over the last three weeks. The neutral bias of the RSI and MACD indicators suggest more sideways trading [..]

Forex Market Review (European Session) – Dollar holds onto gains vs yen as Trump Fed decision awaited; euro slips

Posted on October 23, 2017 at 2:42 pm GMT

The US dollar held on to most of its Asian session gains in European trading on Monday as the yen remained weak after Abe’s landslide victory in Japan. The euro slipped further into losses as the stand-off between Madrid and the Catalan authorities intensified, while sterling also lost ground amid worries about the British economy. The yen maintained its broad weakness against most major currencies following Japanese prime minister Shinzo Abe’s election win on Sunday, which signalled policymakers in the [..]

Forex Market Review (Asian Session) – Politics rule as Japanese elections, Catalan independence, US tax plan and Fed Chair appointment closely watched

Posted on October 23, 2017 at 7:42 am GMT

Foreign exchange markets were under the spell of political developments in the absence of important economic news, with developments in Japan, the US and Spain more or less setting the tone. The yen was the session’s biggest loser as Prime Minister Abe’s comfortable win over the weekend meant the probable continuation of fiscal and monetary stimulus in the world’s third-largest economy. Dollar/yen briefly pierced the 114 level to trade at a three-month high of 114.09 before backing down to 113.77. [..]

Week Ahead – ECB tapering decision looms; BoC also meets; UK and US GDP eyed

Posted on October 20, 2017 at 4:13 pm GMT

The European Central Bank will take centre stage next week as it announces its long-awaited decision to scale back its asset purchase program. Central banks in Canada, Sweden and Norway will also be holding their monetary policy meetings. On the data front, the first estimate of third quarter growth in the UK and the US will be in focus. Other major data will include Japanese and Australian inflation and Eurozone PMIs. Japan’s Abe’s election gamble likely to pay off Recent [..]

Forex Market Review (European Session) – Yen weakens ahead of Japanese elections; loonie falls sharply as retail sales miss expectations

Posted on October 20, 2017 at 3:38 pm GMT

As markets head into the weekend, investors during the European session were concentrated on political developments in Spain as well as on Brexit negotiations. Japanese snap elections would be also in focus on Sunday with the yen showing some weakness on Friday. However, the loonie was the worst performer out of majors today after retail sales and inflation figures came in worse than expected. The dollar index managed to pick up by 0.34% on the day, reaching a two-day high of 93.54 during the session as the Senate’s approval of the 2018 budget [..]

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