All Articles Tagged - GBPUSD

Forex Market Review (European Session) – Safe havens benefit on geopolitical uncertainty; dollar touches 3-week high

Posted on August 9, 2017 at 3:07 pm GMT

Rising tensions between North Korea and the US led traditional safe havens to post gains today. Meanwhile, the few data releases during the day failed to cause much of a reaction in currency markets. The Swiss franc, which as of recently was hitting headlines on continuing weakness, surged today on the back of safe haven demand. In particular, euro/franc fell to as low as 1.1259 after starting the day at 1.1447. It was last down 0.9% on the day. Dollar/franc [..]

Forex Market Review (Asian Session) – Safe-haven assets gain on escalating US-North Korea geopolitical turmoil

Posted on August 9, 2017 at 7:44 am GMT

Geopolitical woes between the US and North Korea escalated overnight following announcements by the presidents of both countries. In response, safe-haven assets such as the yen, Swiss franc and gold strengthened overnight. The dollar index was moderately down ahead of European trading. The escalating situation commanded the news flow during the Asian session, overshadowing other economic developments of significance for forex markets. North Korea announced that its leader Kim Jong Un was weighing a possibility to strike the US Pacific territory of Guam [..]

Forex Market Review (Asian Session) – Dollar weakens in wake of US inflation, euro strengthens and oil pressured

Posted on August 8, 2017 at 7:34 am GMT

Chinese economic data dominated today’s Asian session as dollar traders await key consumer prices figures for July due on Friday. The dollar index gave up on some of the strong gains from Friday to last trade at 93.36. The euro was up against the greenback, trading above the 1.1800 handle. Disappointing trade data out of China got some investors worried about a slowdown in the global economy. Annually, exports from the mainland grew 7.2% in July, slowing down from 11.3% in June and coming [..]

Technical Analysis – GBPUSD retreats from 11-month high; recent uptrend intact above 1.30

Posted on August 8, 2017 at 6:48 am GMT

GBPUSD hit an 11-month high of 1.3267 last week before losing upside momentum and reversing back towards the key psychological level of 1.3000. The overall market structure on the daily chart remains bullish and the current move lower is viewed as a corrective phase as long as the price remains above 1.3000. Support at 1.3000 is considered strong as it also happens to be close to the 38.2% Fibonacci retracement of the recent rally from 1.2588 to 1.3267. This level [..]

Forex Market Review (European Session) – Euro struggles to rise after German industrial production; oil bounces as Libya’s largest oilfield is disrupted

Posted on August 7, 2017 at 3:22 pm GMT

As the economic calendar was lacking important data, the European session was quiet with the markets digesting the release of the German industrial production and the Halifax house price index, the only closely watched indicators of the day. Moreover, while investors were focused to catch any hints from the two-day OPEC/non-OPEC meeting launched today, energy prices initially edged higher before backtracking later in the day. The dollar was more or less steady against its rivals during European trading, with the [..]

Forex Market Review (Asian Session) – Dollar weakens on start of quiet week as other majors up; oil pressured

Posted on August 7, 2017 at 7:32 am GMT

Forex markets have started the week on a relatively quiet note regarding economic releases. During the Asian session, New Zealand inflation expectations and German industrial output in June were the main figures of interest. The dollar gave up on some of Friday’s gains against most majors, including the yen and the euro. The greenback weakened modestly against most majors during Asian trading, following its surge on Friday amid a better-than-expected jobs report. The report pointed to a healthy and growing labor market, as 209K new jobs were created last [..]

Week Ahead – US CPI; RBNZ meeting; OPEC/non-OPEC to monitor cuts

Posted on August 4, 2017 at 4:04 pm GMT

Next week will be calmer in terms of data releases relative to this one, though certain figures from major economies will definitely grab the markets participants’ attention. In terms of central bank meetings, the Reserve Bank of New Zealand will meet to set monetary policy, while oil prices may experience added volatility given that a meeting to monitor compliance with output cuts will be taking place in Abu Dhabi. RBNZ decision on monetary policy The Reserve Bank of New Zealand [..]

Forex News – Non-farm payrolls surprise to the upside; dollar index hits above 93 key level

Posted on August 4, 2017 at 3:48 pm GMT

Following a dose of disappointing economic data out of the US with the most recent involving ISM non-manufacturing PMI released yesterday, the highly anticipated non-farm payrolls for the month of July took markets by surprise with the figures beating expectations. Consequently, the dollar surged and managed to break above the key level of 93 despite ongoing political turmoil around Trump’s administration. In July, 209,000 new positions were created in nonfarm sectors, a number that was below the previous mark of [..]

Forex Market Review (European Session) – Dollar’s weekly losses cut down by solid employment report

Posted on August 4, 2017 at 2:48 pm GMT

The July employment report provided much-needed relief to the beleaguered greenback on Friday, while the pound continued to lose ground on fears the Bank of England would keep rates near record lows for longer. The main highlight of the day was the July jobs numbers out of the United States. The market is keeping a close eye on US economic numbers as they will likely determine whether an additional Fed rate hike will take place by the end of the [..]

Forex Market Review (Asian Session) – Dollar in doldrums ahead of NFP data; most other majors and gold firm up

Posted on August 4, 2017 at 7:14 am GMT

The greenback had yet another setback overnight ahead of the eagerly-anticipated non-farm payrolls data out today. Following yesterday’s disappointing ISM non-manufacturing PMI, the dollar slid on an alleged grand jury issuance of subpoenas about a June 2016 meeting President Trump’s son and his son-in-law held with a Russian lawyer. The dollar index weakened about a tenth-of-a-percent to last trade at 92.74. In Asia, forex markets had a mixed reaction against the dollar. The yen and the aussie firmed up against the greenback, [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

GBPUSD

XM Live Chat