All Articles Tagged - GBPUSD

Forex Market Review (European session) – NFP disappoints but dollar finds support on Manufacturing PMI; euro down as ECB Constancio and Nowotny remain cautious

Posted on September 1, 2017 at 3:26 pm GMT

The dollar went downhill during the mid-European trading hours as the widely expected and Fed’s closely watched indicators, nonfarm payrolls and earnings, came in worse than expected in August but managed to recover on upbeat manufacturing PMI readings. The euro hit lower while the dollar was rebounding but did not show significant reaction to the less hawkish remarks made from ECB officials on Friday. While analysts expected nonfarm payrolls to increase by 180,000 in August, the actual number popped up [..]

Week Ahead – Markets look to ECB meeting for euro and tapering guidance; RBA and BoC also meet

Posted on September 1, 2017 at 3:14 pm GMT

Monetary policy will dominate the coming week as the central banks of Australia, Canada, the Eurozone and Sweden hold their scheduled policy meetings. Data wise, the focus will be on trade and industrial output indicators, with a number of countries reporting, including Germany, France and the United Kingdom. However, it will be a slow start to the week with both US and Canadian markets closed on Monday for Labour Day. Important week for aussie with GDP and RBA meeting The [..]

Forex Market Review (Asian session) – Dollar ticks up in Asia ahead of NFP; Aussie weaker ahead of busy week

Posted on September 1, 2017 at 7:59 am GMT

With geopolitical risks remaining in the background and the tropical Storm Harvey devastating the Southern US, the dollar managed to reverse some of yesterday’s losses during the Asian session. Investors were also forming their predictions for the widely expected nonfarm payrolls released later today. The aussie posted short-lived gains during today’s trading after AIG manufacturing index and the Chinese Caixin came in better than expected. Following disappointing inflation and consumer spending readings published on Thursday as well as US Treasury [..]

Forex Market Review (European Session) – ECB exchange rate concerns drag euro lower; Loonie jumps on Canada GDP beat

Posted on August 31, 2017 at 3:12 pm GMT

A busy economic data session had limited impact on the US dollar and the euro as the greenback maintained its steady recovery, while the euro extended its losses. Risk sentiment remained positive with major European stock indices gaining by almost 1%, though demand for gold held up, with the precious metal climbing 0.6% to $1316 an ounce. Traders chose to put aside their concerns over the heightened geopolitical risks relating to North Korea, while President Trump’s speech yesterday on tax [..]

Forex Market Review (European Session) – Dollar extends rebound on US data; euro runs out of steam

Posted on August 30, 2017 at 3:07 pm GMT

Risk sentiment improved notably on Wednesday as geopolitical risks ebbed, helping the US dollar extend its gains into the European session. The euro was the worst performing major currency as the three-day sharp rally ran out of steam. The commodity-driven Canadian, Australian and New Zealand dollars also came under pressure against the resurgent dollar but the pound was a surprise outperformer. The euro was unable to hold on to the $1.20 handle after rising above the level yesterday for the [..]

Forex News – Moody’s upbeat on G20 growth but warns of geopolitical risks and protectionism

Posted on August 30, 2017 at 12:53 pm GMT

The credit rating agency, Moody’s Investors Service, gave an upbeat assessment of the G20 economies in its latest outlook report on Tuesday. Moody’s says it expects annual growth in the G20 countries to average at just above 3% in both 2017 and 2018, up from the 2.6% seen in 2016. Higher-than-expected growth in the first half of the year in the Asian powerhouses of China, Japan and South Korea, as well as strengthening momentum in the Eurozone has led Moody’s [..]

Forex Market Review (European Session) – Dollar remains under pressure; euro and gold extend gains

Posted on August 29, 2017 at 2:29 pm GMT

The US dollar remained under pressure in European trading today, extending its Asian session losses, while the euro and gold added to their earlier gains. The risk aversion brought on from North Korea’s latest missile tests, which violated Japanese airspace, showed little sign of dissipating, with major European indices falling deep into the red. Dollar weakness lifted other majors however, with sterling, and the Canadian, Australian and New Zealand dollars all rising on the back of the greenback’s slide. The [..]

Technical Analysis – GBPUSD tests 2-week highs; neutral outlook remains for medium-term

Posted on August 29, 2017 at 7:19 am GMT

GBPUSD is testing fresh 2-week highs at 1.2951. The pair has made a sharp recovery following a bounce from 1.2773 last week but has met resistance at the 50-day moving average (MA). The broader picture on the daily chart shows that the market is neutral. GBPUSD is currently at a critical level with immediate support at 1.2925 – the 50% Fibonacci retracement level of the upleg from 1.2588 to 1.3267. As long as resistance holds at the 50-day MA, prices [..]

Forex Market Review (European Session) – Majors move sideways ahead of busy weekly calendar; oil down as Texas energy refineries shut down

Posted on August 28, 2017 at 3:25 pm GMT

With today’s economic calendar lacking important data, major currencies were trading sideways during European trading hours, while market watchers were weighing the damage from the life-threatening tropical storm Harvey which forced the closure of the Texas oil industry on Monday. However, in the coming days, forex markets will be on the receiving end of important data releases from major economies. The dollar struggled to recover from the 2-½-year lows it recorded against its rivals during early Asian session after the Fed Chief [..]

Forex Market Review (Asian Session) – Euro holds above 2½-year high; oil prices mixed in wake of Hurricane Harvey

Posted on August 28, 2017 at 7:22 am GMT

As Asian trading was about to end for the day, the euro managed to hold above the two and a-half-year high, despite being under pressure in early trades. Euro/dollar was last trading at 1.1926, after reaching 1.1940 on Friday, levels last recorded in January 2015. Oil prices surged in early trading but gave up on some of the gains as the Asian session was coming to a close. The euro came under some pressure during the Asian session, but managed to [..]

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