All Articles Tagged - GBPUSD

Forex Market Review (Asian Session) – Dollar faces tailwinds on 2018 fiscal budget approval; kiwi plummets as economic risks grow

Posted on October 20, 2017 at 7:55 am GMT

The approval of a budget blueprint for the 2018 fiscal year, drove the dollar higher against its major counterparts on Friday in Asia, while the kiwi extended its losses in the face of economic uncertainties which might emerge under the new coalition government. Trump’s tax plan, which promises substantial tax cuts to businesses and individuals, is ready to move to the House of Representatives after the Republican-controlled Senate voted in favor of the 2018 fiscal budget yesterday which would add $1.5 trillion to the federal deficit over the next [..]

Forex Market Review (European Session) – Kiwi bears take charge on new government announcement; pound slips after retail sales slump

Posted on October 19, 2017 at 2:52 pm GMT

The kiwi posted additional long red candles during the European session after the kingmaker New Zealand First party backed the opposition party early today, forming a new coalition government. The pound fully reversed yesterday’s gains in the wake of worse-than-expected retail sales. September’s British retail sales tumbled by 0.8% from August, surprising analysts who had projected a smaller contraction of 0.1% as the pound’s weakness raised import costs and hence hit consumers’ wallets. The previous reading was also revised downwards [..]

Forex Market Review (Asian Session) – Kiwi sinks as Peters supports Labour Party; aussie slips as China’s growth softens

Posted on October 19, 2017 at 8:05 am GMT

A day after China’s twice-in-a-decade Communist Party Congress commenced, statistics out of China showed that the economy continued to grow above the government’s annual target, giving more confidence on President XiJinping’s leadership. However, the expansion was slightly softer relative to the previous quarter, with the Australian dollar falling slightly in the wake of the data. In New Zealand, the Labour Party looks set to govern the country pushed the kiwi to a near five-month low. According to the National Bureau of Statistics [..]

Forex Market Review (European Session) – Dollar pulls back as Trump opposes Senate healthcare deal; pound down as real wages disappoint

Posted on October 18, 2017 at 3:30 pm GMT

While China was in the spotlight during the day, with the Chinese President Xi Jinping opening the country’s biggest political event, the Communist Party Congress, in the US, President Trump showed opposition to the bipartisan healthcare deal, driving the dollar lower. The pound also weakened after employment data showed that UK real wages remain negative. The dollar index stalled its uptick driven mainly by speculations that Trump will replace the Fed chair with a hawkish candidate in February, retreating to [..]

Forex News – UK data adds pressure for rate hike but less hawkish BoE raises scepticism about willingness

Posted on October 18, 2017 at 2:45 pm GMT

Inflation in the United Kingdom rose to the highest in 5½ years in September, reaching 3% year-on-year, data out on Tuesday revealed. The figure is one full percentage point above the Bank of England’s target of 2%, adding pressure on policymakers to reign in the build-up in prices being generated by sterling’s depreciation following the Brexit referendum. Labour market data released today further supported the case for a rate hike as wage growth came in above expectations. Average weekly earnings [..]

Forex Market Review (Asian Session) – Eyes on Chinese communist party conference; loonie, Mexican peso jump as NAFTA talks extend

Posted on October 18, 2017 at 7:54 am GMT

Markets turned their focus on China on Wednesday, as China’s President Xi Jinping welcomed the biggest political event in the country, the Communist Party Congress, which plays a key role in the global economy. Meanwhile, the announcement of NAFTA talks extending to next year gave room for improvement to the Canadian dollar and to the Mexican peso. The Chinese President XI Jinping opened the twice-in-a-decade and closed-door Communist Party Congress in Beijing on Wednesday, with investors expecting the leaders of the world’s second-largest economy to announce any policy [..]

Forex Market Review (European Session) – Pound tumbles on dovish BoE comments; Fed chair talk drives dollar higher

Posted on October 17, 2017 at 2:37 pm GMT

Sterling took a tumble on Tuesday after Bank of England officials appeared more cautious than anticipated in supporting policy tightening even as UK inflation rose to a 5½-year high in September. The US dollar enjoyed a second day of solid gains as investors speculated that President Trump was considering appointing an inflation hawk as the next head of the US Federal Reserve. The euro meanwhile remained subdued as renewed political risks continued to weigh on the currency. It was a [..]

Forex News – UK inflation gives way for rate hike; pound posts short-lived gains on dovish BOE remarks

Posted on October 17, 2017 at 2:15 pm GMT

UK inflation in September rose to a 5 ½ -year high according to the Office for National Statistics, gaining one percentage point above the BOE’s 2% target and igniting speculation that a rate hike could emerge in the BOE’s November meeting. However, the pound could not sustain the uptick triggered by the data, giving away its gains, after the BOE chief and deputy governor held a dovish stance during parliamentary testimony. Headline consumer prices matched expectations, increasing by 3.0% y/y in September but remaining close [..]

Forex Market Review (Asian Session) – Dollar rises as hawkish Fed candidate in favor; aussie extends losses after RBA minutes

Posted on October 17, 2017 at 7:40 am GMT

On Tuesday, the dollar drifted higher in Asia on speculations that a hawkish Fed candidate impressed the US President. On the other hand, the Australian dollar dipped into losses after the RBA meeting minutes reiterated concerns on overloaded household debt. Markets were surprised to hear on late Monday that the Stanford Economist, John Taylor, who was in a lower position on Trump’s shortlist of Fed chief candidates made an impression to Trump after an hour-long interview last week in the White House. Taylor is [..]

Technical Analysis – GBPUSD may be resuming bearish phase after corrective move stalls

Posted on October 17, 2017 at 6:17 am GMT

GBPUSD has turned neutral in the near term after the recent bounce from the key 1.3000 area. It remains to be seen whether the market is making a lower top at 1.3337 and will continue the bearish phase from the 1.3656 peak. Risk is still tilted to the downside and further weakness is expected since momentum signals are weak. MACD is bearish while RSI is flat. Immediate support is at 1.3216, which is the 50% Fibonacci retracement level of the [..]

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