All Articles Tagged - GBPUSD

Stock Market News (European Open) – Stoxx 600 close to flat; FTSE on the rise on weakening pound; Volkswagen falls

Posted on September 29, 2017 at 10:09 am GMT

The Nikkei 225 finished the day marginally lower with Japan’s broader index, the Topix, declining by 0.1%. Hong Kong’s Hang Seng and the Shanghai Composite added 0.5% and 0.3% respectively, with Australia’s S&P/ASX 200 adding 0.2%. Major markets in Asia will be closed for holidays next week – this includes mainland China which will be holding National Day celebrations throughout the week. Equity traders have been paying close attention to the Trump administration’s tax plan in recent days, with questions remaining [..]

Forex Market Review (Asian Session) – Dollar steady as uncertainties on tax reforms weigh; focus on inflation

Posted on September 29, 2017 at 8:09 am GMT

On Friday, currencies in Asia were in a quiet trade, with the dollar moving sideways near yesterday’s lows as positive sentiment on Trump’s tax proposals was fading and investors were less certain on whether those would pass in Congress. However, the focus during the day will be on the US inflation readings which might affect the Fed’s views on future monetary policy if they come in as a surprise. Although the US tax cuts proposed by the Trump administration raised confidence initially on the country’s fiscal policy, investors were less [..]

Forex Market Review (European Session) – Dollar retreats despite US economy performing better than expected; pound reverses losses after Barnier’s speech

Posted on September 28, 2017 at 2:58 pm GMT

During European trading, markets pushed the dollar lower as concerns grew over Trump’s tax proposals following an initial positive response. The dollar’s weakness gave a breather to other majors, with the euro and the pound being the best performers, while the latter gained additional support following encouraging comments made by the EU Brexit negotiator Michel Barnier. The dollar reversed gains made earlier against a basket of major currencies despite better than expected final GDP growth figures as investors were assessing [..]

Forex Market Review (Asian Session) – Dollar surges on Trump’s tax proposals; kiwi down after RBNZ releases monetary statement

Posted on September 28, 2017 at 8:06 am GMT

In a data-quiet session, the dollar managed to extend yesterday’s gains in Asia after the US President, Donald Trump, revealed his plans on tax reforms a day before. Meanwhile, markets were scanning the RBNZ statement released after the central bank decided to hold rates steady, with the kiwi dipping into losses after the new RBNZ Governor signaled that a weaker currency was needed. Trump unveiled late on Wednesday in Indianapolis the tax plan outline prepared by White House members and his Republican counterparts that is dubbed as the biggest US tax reform in three decades. The plan [..]

Forex Market Review (European Session) – Dollar rallies on hopes of tax reforms; eyes on RBNZ

Posted on September 27, 2017 at 3:13 pm GMT

Hawkish remarks by Fed Chair Yellen on Tuesday continued supporting the dollar against its major rivals during European trading as markets were more confident now that the Fed would deliver another rate hike in December. Investors were also cautious to hear whether the US tax overhaul plan announced later today would be Trump’s first major legislative achievement since his election, a day after his proposals to repeal Obamacare failed to pass yet again. The dollar index breached again the 93 key level during the European session, last trading at [..]

Forex Market Review (European Session) – Dollar index hits one-month high ahead of Yellen’s speech; euro sinks to one-month low

Posted on September 26, 2017 at 3:16 pm GMT

The European forex markets on Tuesday continued digesting political uncertainties arising from the German elections, kicking the euro to a one-month low. The dollar, on the other hand, stood tall at a one-month high ahead of Fed Chair Janet Yellen’s speech later today despite US-North Korea war tensions becoming dangerous as fiscal policy came to the spotlight. The dollar extended its uptrend against a basket of major currencies despite escalating North Korean tensions as focus turned to fiscal policy. Sources familiar [..]

Forex Market Review (Asian Session) – Safe havens gain ground as Pyongyang threatens to shoot down US jets; oil hits fresh highs

Posted on September 26, 2017 at 8:08 am GMT

Geopolitical uncertainties became dangerous late on Monday giving a boost to safe havens during Tuesday’s Asian session. The North Korean Foreign Minister Ri Yong Ho used a stronger language against the US, saying that Trump’s recent comments were a declaration of war on the Korean peninsula and the regime has the right to shoot down US bombers even if they fly outside the regime’s airspace. A few hours later the White House spokeswoman Sarah Sanders denied that the US has declared war on North Korea, while the National Security Adviser H.R McMaster argued [..]

Technical Analysis – GBPUSD neutral in short-term but maintains broader bullish trend

Posted on September 26, 2017 at 6:10 am GMT

GBPUSD holds a neutral bias near the highest level since June 2016. The market became overbought after the recent rally from 1.2773 stalled at a high of 1.3656 on September 20. This was indicated by the daily RSI rising above 70. RSI has since eased back below this level and is flat, suggesting that upside momentum has faded. GBPUSD has been trading sideways between 1.3430 and 1.3656 since mid-September following rapid gains from the end of August. A break below [..]

Forex Market Review (European Session) – Euro extends decline after German elections; oil jumps to fresh multi-month highs

Posted on September 25, 2017 at 3:10 pm GMT

The euro continued to be dogged by concerns about the outcome of the German elections, extending its losses in European trading, while a similarly disappointing election outcome in New Zealand caused the kiwi to be the day’s worst performing major currency. The US dollar was firmer as the yen came under pressure after the Japanese prime minister called a snap general election. Oil prices meanwhile rose to fresh highs after major producers said the market was rebalancing. The prospect of [..]

Forex Market Review (Asian Session) – Euro, kiwi setback as election winners seek coalition; gold down despite another round of threats

Posted on September 25, 2017 at 7:54 am GMT

The euro and the kiwi were trading lower on Monday after the election weekend for Germany and New Zealand ended with expected outcomes but insufficient votes to form a government. Meanwhile, geopolitical tensions continued to escalate between the US and North Korea as another round of threats took place during the weekend. However, the markets ignored the fresh warnings, with the safe-haven gold retreating near to one-month lows. On Sunday, exit polls in Germany favored Chancellor Angela Merkel for the fourth time with the [..]

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