All Articles Tagged - GBPUSD

Week Ahead – US data and Fed speakers to dominate; limited risk seen from German elections

Posted on September 22, 2017 at 3:58 pm GMT

Election results from Germany and New Zealand will occupy market headlines at the start of the trading week, assuming there is no fresh escalation of geopolitical tensions by North Korea. US economic indicators will dominate much of the week, but Japanese and Eurozone inflation data and the Reserve Bank of New Zealand’s monetary policy meeting will also be in focus. The Federal Reserve will also be attracting headlines as several policymakers hit the podium. Few surprises expected from German election [..]

Forex Market Review (European Session) – Dollar under pressure after Trump’s tweet on N. Korea; pound weaker despite May rejecting options of leaving EU earlier

Posted on September 22, 2017 at 3:54 pm GMT

The latest war of words between Trump and the North Korean leader Kim Jong Un kept markets nervous during the European session, with the dollar being unable to restore Wednesday’s gains when the FOMC statement signaled the start of the balance sheet reduction in October and more strongly put on the table an additional rate hike later in the year. However, the Brexit speech by the UK Prime Minister Theresa May was in the spotlight during the European session with the pound sinking during [..]

Stock Market News (US Open) – European equities rebound to trade higher; Wall Street opens lower

Posted on September 22, 2017 at 2:04 pm GMT

European stocks reversed losses from earlier in the day as almost every major benchmark in the continent traded in the green a little before European markets close for the weekend. The pan-European Stoxx 600, which was 0.2% down at its lowest, last traded up on the margin. At its highest, it reached a two-month peak. On a weekly basis, it is up by a decent 0.6%. The FTSE 100 and CAC 40 were up by 0.2% and 0.3% respectively. The [..]

Forex Market Review (Asian Session) – Dollar tumbles on rising US – North Korea tensions; pound flat ahead of May’s Brexit speech

Posted on September 22, 2017 at 8:05 am GMT

The risk-off sentiment reemerged on Friday in Asia, as the North Korean leader Kim Jong Un delivered another threatening message to the US following Trump’s warning at his debut speech at the UN General Assembly on Monday. The dollar lost ground against a basket of major currencies, paring gains made after the Fed’s decision to start unwinding its balance sheet on Wednesday. Meanwhile, the pound remained steady ahead of the widely expected speech by the British Prime Minister on Brexit later today. Investors were in a risk-averse mode during the [..]

Forex Market Review (European Session) – Markets digest Fed message as dollar corrects; aussie drops on Chinese downgrade

Posted on September 21, 2017 at 2:47 pm GMT

The US dollar gave back some of its gains versus its major counterparts such as the euro, the yen and the British pound after the Fed signaled the previous day it was planning to raise interest rates one more time this year. The Fed also announced that in October it would start to slowly roll back some of the stimulus it injected in the form of Quantitative Easing; the first major central bank to do so since the financial crisis [..]

Forex Market Review (European Session) – Dollar stays weak on prospect of dovish Fed later

Posted on September 20, 2017 at 2:43 pm GMT

The US dollar remained weak ahead of the Federal Reserve’s announcement and the Fed Chair’s press conference later in the session. Traders seemed to be bracing for an on balance dovish message from the Fed, even though the market still expected a rate hike at the end of the year to be more likely than not. There was virtual unanimity that the Fed would not increase rates today but rather only announce the starting date for the gradual reduction of [..]

Forex News – Jump in UK retail sales adds to rate hike expectations; pound tests $1.36 again

Posted on September 20, 2017 at 10:43 am GMT

After a notable slowdown at the end of 2016 and start of 2017, British retail sales are showing some signs of recovery, even as consumers continue to feel the pinch from falling real incomes. The volume of retail sales jumped by 1% month-on-month in August, the most in four months and surpassing expectations of 0.2%. On a 12-month basis, retail sales rose by 2.4%, beating expectations of 1.1%. Adding to the upbeat data were an upward revision to the prior [..]

Forex Market Review (European Session) – Dollar retreats ahead of Fed announcement tomorrow

Posted on September 19, 2017 at 2:53 pm GMT

The US dollar posted modest losses during today’s session as traders were fixated on tomorrow’s announcement by the Federal Reserve. The dollar made its highs towards the end of today’s Asian session, but lost ground after that. Dollar/yen, in particular, saw significant profit-taking after the substantial gains of the previous days. From 111.83 the pair fell to as low as 111.23, rebounding to 111.40. Euro/dollar also peaked above 1.20 earlier in the day but was not far from that level [..]

Forex Market Review (Asian Session) – Dollar climbs vs yen ahead of FOMC; pound loses ground after Carney speaks on rates and Brexit

Posted on September 19, 2017 at 8:06 am GMT

On Tuesday, the dollar hit a fresh eight-week high against the yen in Asia with investors widely expecting the Fed policymakers to announce the start of monetary tightening later this year in their two-day meeting that concludes on Wednesday. Its British counterpart was in an uptrend as well following a deep fall on Monday after the BOE Governor, Mark Carney, talked down the country’s post-Brexit trade prospects and argued that rates should rise moderately, giving no clues on when the [..]

Technical Analysis – GBPUSD rally fades; medium-term outlook remains bullish

Posted on September 19, 2017 at 6:31 am GMT

GBPUSD has stalled its recent rally that took the pair to a high of 1.3618 yesterday. This is the highest level since June 2016. After reaching this level, the market became overextended as is indicated in the momentum oscillators. RSI is overbought above 70 and the stochastic is above 80. The underlying market structure is bullish – it can be seen that the MACD is bullish and still rising and there is limited downside at this stage. GBPUSD is making [..]

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