All Articles Tagged - GBPUSD

Forex Market Review (Asian session) – Dollar holds strong amid rising economic confidence; aussie tumbles after retail sales shrink

Posted on October 5, 2017 at 8:01 am GMT

On Thursday, the dollar opened higher in the Asian session, gaining from investors’ increasing confidence on the US economy, while its Australian counterpart fell sharply after underpaid consumers tightened their spending, driving retail sales to the lowest level in five years. The dollar index moved from yesterday’s closing price of 93.28 to a high of 93.37 in Asia before it slipped back as upbeat US non-manufacturing data released on Thursday continued to support the dollar against its rivals and the Fed chair Janet Yellen failed to give any [..]

Forex Market Review (European Session) – Dollar shines on ISM non-manufacturing PMI numbers; oil up after Putin’s remarks and EIA report

Posted on October 4, 2017 at 3:21 pm GMT

Not long before the session-end, the dollar index shot higher against its peers, reversing daily losses after the ISM non-manufacturing PMI readings for the month of September posted the highest mark since August 2015. The index surged by 4.5 points to 59.8, whilst projections were for a smaller increase to 55.5. New orders, employment and price PMI indices within the services industry also touched fresh highs, with prices surging the most in five years. The Markit equivalent also came in [..]

Forex News – UK services PMI lifts pound off 3-week lows but growth lags Eurozone

Posted on October 4, 2017 at 11:30 am GMT

Manufacturing and services PMI released in the UK this week indicate the British economy continues to expand at a moderate pace, easing concerns of a sharper slowdown or a recession as the Brexit uncertainty bites on growth. However, when put against the backdrop of a weaker sterling and accelerating growth elsewhere in the world, notably the Eurozone, recent UK economic data leaves much to be desired. Data out on Monday showed the IHS Markit/CIPS manufacturing PMI eased to 55.9 in [..]

Forex Market Review (Asian Session) – Dollar weakens on concerns over dovish new Fed chair

Posted on October 4, 2017 at 7:47 am GMT

On Wednesday, economic market drivers were limited as the economic calendar was lacking important data. However, a final list of subsequent Fed candidates and speculations that Trump might nominate a less hawkish candidate pressured the dollar lower during the Asian session, giving a push to other major currencies. However, growing expectations of a third-rate hike in December kept the dollar index above the 93 key-level. During the Asian session, the dollar index, which gauges the dollar’s strength against its major peers, [..]

Forex Market Review (European Session) – Dollar retreats as investors take profits; euro rebounds

Posted on October 3, 2017 at 3:05 pm GMT

The dollar pared earlier gains during the European trading hours as investors were engaging in profit-taking, while the euro managed to rebound despite political uncertainty remaining in the background. The dollar index retreated from the 1 ½-month high of 93.92, falling to 93.45 before the session-end as investors were locking in gains ahead of the nonfarm payrolls report to be released on Friday. Investors though seem to remain confident on the US economic environment and Trump’s tax policy which aims to deliver large tax cuts to businesses. The pound [..]

Forex Market Review (Asian Session) – Dollar bulls in charge on improved US economic outlook; aussie down after RBA policy meeting

Posted on October 3, 2017 at 7:35 am GMT

On Tuesday, rising economic prospects in the US kicked the dollar higher to a 1 ½-month high against its major rivals during Asian trading, while a steady monetary policy and an unchanged economic outlook as indicated overnight by RBA policymakers sent the aussie down to a two-month low. The spot dollar index stretched its uptrend during the Asian session, reaching a fresh 1 ½-month high of 93.92 as confidence in the US economic environment was enhanced after the release of upbeat manufacturing PMI readings on Monday and the Fed retained its [..]

Technical Analysis – GBPUSD short-term bearish; recent rally at risk of reversal

Posted on October 3, 2017 at 6:21 am GMT

GBPUSD is increasingly bearish after breaking below the key 1.3400 level and the 2-week decline is threatening to reverse the September rally to 1.3656. The brief consolidation range near the highest levels since June 2016 broke down last week and momentum signals are turning more negative. The broader market structure looks bullish, showing GBPUSD slowly advanced from the 1.2000 area since the early part of this year. The crossover of the 50-day moving average above the 200-day MA in May [..]

Forex News – Euro and pound underperform on heightened political worries

Posted on October 2, 2017 at 3:09 pm GMT

Just a week after an indecisive general election outcome in Germany threatened to derail the euro rally, a separatist vote in Spain’s Catalonia region on Sunday has further dampened sentiment for the single currency at the start of trading in the fourth quarter. The pound has also started the new quarter on a weak note as uncertainty about the UK’s Brexit strategy and doubts about Theresa May’s fragile government have pulled sterling below the key $1.33 level. An attempt by [..]

Forex Market Review (European Session) – Dollar reverses losses after Chicago PMI beat; pound slips as GDP growth disappoints

Posted on September 29, 2017 at 3:37 pm GMT

In a relatively busy data session, investors turned their attention back to the economic calendar, while concerns over Trump’s tax proposals continued to weigh on the markets. Disappointing US inflation readings had a moderate impact on the dollar as markets were optimistic that the Fed would deliver another rate hike in December after Fed Chair, Janet Yellen, supported on Tuesday a gradual rate hike despite the weakness in inflation. The pound was the worst performer following weaker GDP growth readings. [..]

Week Ahead – US jobs report and ISM PMIs eyed as dollar rallies again; RBA meets

Posted on September 29, 2017 at 3:07 pm GMT

The US dollar just had its most positive week of 2017, driven by firming expectations of a December rate hike. Data out of the US next week will therefore be watched very carefully for further evidence supporting this view. Also coming under the limelight next week is the Reserve Bank of Australia, which meets for a scheduled monetary policy meeting, while Canadian employment figures, ECB meeting minutes, UK PMIs and the Bank of Japan’s Tankan survey will too be watched [..]

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