All Articles Tagged - GBPUSD

Forex Market Review (European Session) – Yen under pressure because of risk-on; pound catches breath after major up move

Posted on September 18, 2017 at 2:50 pm GMT

The yen remained under pressure during today’s trading as market participants were more optimistic on the global outlook. The pound retreated after climbing to its post-Brexit high versus the dollar due to some profit-taking. Safe haven plays such as the yen and gold remained under substantial pressure today as equity markets around the world marched on to fresh highs and concerns about a possible escalation of the North Korean situation were calmed by recent developments. A speech by US President [..]

Stock Market News (European Open) – Risk-on across the board; Stoxx 600 records 7-week high

Posted on September 18, 2017 at 10:01 am GMT

In terms of Asian indices, Hong Kong’s Hang Seng finished the day higher by an impressive 1.3%. The Shanghai Composite rose by 0.3% and Australia’s S&P/ASX 200 by a bit less than 0.5%. South Korea’s Kospi performed the strongest since early May, gaining close to 1.4%. Japanese markets were closed for a public holiday. The risk-off trades during Friday’s trading after North Korea performed another missile test were short-lived, failing to have much of an impact on investors’ appetite for [..]

Forex Market Review (Asian Session) – Safe-havens pull back as US seeks peace with N.Korea; dollar steady ahead of FOMC

Posted on September 18, 2017 at 7:57 am GMT

On Monday, safe-haven currencies were trading lower as UN leaders were preparing to kick off a meeting on Tuesday to discuss possible solutions on North Korea’s nuclear programs, with the US seeking a peaceful resolution. The dollar was hovering sideways ahead of the FOMC meeting. With the economic calendar lacking significant releases during the Asian session, the dollar index was mainly flat at 91.88 as investors were waiting for the two-day FOMC meeting ending on Wednesday. Although investors anticipate Fed policymakers to keep rates unchanged, they will be focused [..]

Forex Market Review (European Session) – Dollar extends losses; BOE Vlieghe pushes pound above $1.36

Posted on September 15, 2017 at 3:19 pm GMT

The dollar could not find support on the closely watched US retail sales figures released during the European session as the numbers came in lower than forecast, while risk-off sentiment continued weighing on the currency. Among major currencies, though, the pound was the best performer as it managed to reach post-Brexit levels after BOE’s Gertjan Vlieghe signalled that a rate hike might emerge in next months. While investors anticipated US retail sales to grow by 0.1% m/m in August, the [..]

Week Ahead – FOMC: balance sheet announcement and rate projections eyed; BoJ to stand pat

Posted on September 15, 2017 at 2:59 pm GMT

The Federal Reserve is expected to make its long-awaited announcement on its balance sheet reduction plan next week, though investors will probably be more interested in the FOMC’s latest dot plot chart. The Bank of Japan also holds a monetary policy meeting but it will likely be a less exciting event than the Fed’s. On the data front, Eurozone flash PMIs, UK retail sales, Canadian inflation and New Zealand GDP will be the highlights. Eurozone data unlikely to shift euro [..]

Stock Market News (European Open) – N. Korean missile launch already priced in?

Posted on September 15, 2017 at 10:09 am GMT

North Korea today yet again launching a missile that flew over Japan and landed into the Pacific Ocean did dampen appetite for risk, though not as much as similar actions in the past. In particular, market reaction indicated that either such a move was expected – at least to a large extent – or that it was perceived as a continuation of provocation from recent weeks rather than adding to tensions. Indicative of this is the fact that perceived safe [..]

Forex Market Review (Asian Session) – Dollar posts short-lived losses after North Korea’s missile; focus on US retail sales

Posted on September 15, 2017 at 8:01 am GMT

North Korea carried a second missile test in less than a month early on Friday, lifting risk-off sentiment and pushing the dollar lower against its safe-haven counterparts. However, the currency managed to reverse its losses immediately, with investors turning their focus on US retail sales after CPI readings came in higher than expected on Thursday. During early Asian trading hours, officials from South Korea and Japan reported that North Korea fired a ballistic missile that crossed over Japan’s northern island [..]

Forex News – Pound hits 1-year high vs dollar as BOE signals higher rates

Posted on September 14, 2017 at 2:32 pm GMT

On Thursday, the Bank of England decided to keep interest rates and its two asset purchase programs unchanged. However, the pound rallied to a one-year high against the dollar and near to a two-month high versus the euro after the monetary statement revealed that the central bank might raise interest rates sooner than markets anticipate. During European trading hours, the majority of the Monetary Policy Committee concluded that interest rates should remain steady at 0.25%, while the central bank should [..]

Stock Market News (US Open) – FTSE declines steeply on sterling strength; Apple weighs on US benchmarks

Posted on September 14, 2017 at 2:15 pm GMT

The pan-European Stoxx 600, which gives a wider view of European equities, was trading up on the margin as European traders were getting near the market’s close. The FTSE 100 was a notable decliner, being dragged down by the stronger British currency. Sterling surged today after Bank of England policymakers, upon completion of their meeting on monetary policy, signaled that a rate hike might be delivered for the first time in more than ten years “in the coming months”. Indicatively, [..]

Forex Market Review (European Session) – Pound jumps after BoE signals rate hike; dollar also up on strong US inflation

Posted on September 14, 2017 at 1:27 pm GMT

Central bank meetings dominated today’s European session, while US CPI was the main data in focus. The pound soared to a fresh one-year high against the dollar after the Bank of England signalled rates could go up within months. The US dollar also shined as the greenback was lifted by stronger-than-expected inflation data. In contrast, the Swiss franc ended up as one of the worst performers after the Swiss National Bank slightly altered its view on the Swissie’s value. The [..]

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