All Articles Tagged - GBPUSD

Forex Market Review (European Session) – Yellen induces dollar’s tumble, traders await Draghi for further moves

Posted on August 25, 2017 at 2:45 pm GMT

The dollar tumbled against all majors following the speech of Federal Reserve Chair Yellen at the Jackson Hole symposium. The US currency managed to trade higher against the yen for most of the European session and got a small lift after the release of US durable goods data, but that was short-lived. The dollar index fell 0.43% to last trade at 92.89. The US dollar traded around the value of 109.57 yen for most of the day leading up to [..]

Forex Market Review (Asian Session) – Dollar gains ahead of Jackson Hole; oil up on Texas output disruption

Posted on August 25, 2017 at 7:36 am GMT

The dollar gained against the yen and the euro ahead of the central bankers’ symposium in Jackson Hole. The dollar index was up 0.11% and was trading at 93.37 as Asian traders were heading home for the week. Oil prices also rose on the possible disruption in the Gulf of Mexico, in Texas. The release of the encouraging Japanese CPI data did little to lift the yen against the dollar as the pair traded on the back of strong dollar [..]

Forex News – Sterling hovers near new lows as Britain makes first step on Brexit legislation and growth stagnates

Posted on August 24, 2017 at 3:32 pm GMT

Today marks a year how the UK Prime Minister gave a speech about Brexit in a Conservative conference and said that “We are not leaving only to return to the jurisdiction of the European Court of Justice — that’s not going to happen”. Yesterday, though, while May reiterated her view on Britain’s own legal path, a Brexit paper on “enforcement and dispute resolution” submitted by the state’s secretary David Davis expressed a different opinion. Following the report, which revealed that [..]

Forex Market Review (European Session) – Dollar firmer as risk appetite improves ahead of Jackson Hole; pound perks up on euro weakness

Posted on August 24, 2017 at 3:19 pm GMT

Risk appetite improved notably on Thursday as investors shrugged off the threat of a government shutdown in the United States to focus on the three-day Jackson Hole gathering of central bankers in Wyoming, which starts today. The US dollar extended its Asian session gains to climb towards 109.50 yen, but the euro floundered ahead of an extended speech by ECB head Mario Draghi tomorrow in Jackson Hole. GDP data dominated the early European session as growth figures were released in [..]

Forex Market Review (Asian Session) – Dollar caps losses, gains against majors; kiwi tumbles to more than 2-month lows

Posted on August 24, 2017 at 7:46 am GMT

The dollar managed to recoup some of yesterday’s losses against the yen, when the US currency tumbled on the President’s remarks about a government shutdown. Other majors also weakened with the kiwi underperforming as it tumbled to more than a two-month lows against the greenback. Oil prices slipped after yesterday’s surge. During another relatively quiet trading day in Asia, the dollar managed to reverse its losses and post a moderate gain against the yen. Dollar/yen was last trading at 109.27, [..]

Forex Market Review (European Session) – Euro gains on PMI, hits fresh 10½-month high Vs sterling; dollar hurt by Trump, data misses

Posted on August 23, 2017 at 3:10 pm GMT

During today’s European session, forex market participants pushed the euro higher on the overall positive picture given by the PMI figures released earlier in the day. In the meantime, the dollar index was down with the US currency being on a negative footing in today’s trading after some comments made by the US President yesterday in Phoenix. Data releases falling short of forecasts also weighed on the US currency. Eurozone flash PMI figures for the month of August were released [..]

Forex Market Review (Asian Session) – Trump yet again induces dollar weakness against yen; other majors edge down

Posted on August 23, 2017 at 7:23 am GMT

President Trump has yet again induced weakness in the US currency with his remarks about a possible government shutdown to fulfill his campaign promises. The greenback weakened against the yen, but gained against other majors making the dollar index flat on the day. The release of flash PMI data out of the eurozone will attract some traction during early hours of European trading. Speaking at a rally in Phoenix, President Trump said “If we have to close down the government, we [..]

Forex Market Review (European Session) – Euro falls on fears of cooling German economy; dollar rallies across board

Posted on August 22, 2017 at 2:24 pm GMT

The dollar continued strengthening against most majors during the European session as geopolitical tensions have been out of the spotlight and the euro and sterling weakened, with the latter ignoring upbeat industrial data. Oil prices continued gaining ahead of an oil inventories report by the API. The euro lost ground and fell below the $1.1175 level following a disappointing set of data out of Germany that got investors worried over the eurozone’s largest economy. The ZEW economic sentiment index, which gauges [..]

Technical Analysis – GBPUSD risk remains to the downside; neutral phase in near-term

Posted on August 22, 2017 at 7:15 am GMT

GBPUSD has been trading sideways since breaking below its 50-day moving average last week. The shift to a more neutral stance follows a prior range that was capped at the key 1.3000 level after a decline from the multi-month high of 1.3267 reached on August 3. The pair has been trading between two important Fibonacci retracement levels of the rise from 1.2588 to 1.3267. The 50% Fibonacci at 1.2927 is capping the top of the range while the 61.8% Fibonacci [..]

Forex Market Review (Asian Session) – Dollar firms up in humdrum market; oil rises on tightening US supply

Posted on August 22, 2017 at 7:11 am GMT

In an uneventful trading during the Asian session due to the absence of any economic data releases, the dollar edged up. The dollar index, which measures the greenback’s value against a basket of six major currencies inched up 0.12% to last trade at 93.21. Oil prices rose amid indications that supply is tightening. Looking at reactions in the forex market, the dollar strengthened against most majors. Euro/dollar fell just below the $1.18 mark to last trade at $1.1795. The pound [..]

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