All Articles Tagged - GBPUSD

Forex Market Review (European Session) – Pound slumps after BoE lowers UK outlook; dollar slips on weak ISM

Posted on August 3, 2017 at 3:00 pm GMT

The pound was the worst performing major currency in forex markets during today’s European session as it tumbled after the Bank of England downgraded its growth and inflation forecasts. The euro was steady against the US dollar but surged against the pound, while the greenback came under pressure from a weak ISM PMI. The Bank of England decided to hold rates unchanged at 0.25% at the end of its two-day policy meeting today. But the 6-2 vote was less hawkish [..]

Forex News – Sterling tumbles as BoE keeps rates on hold, cuts growth forecasts

Posted on August 3, 2017 at 2:44 pm GMT

The Bank of England decided to keep rates unchanged at all-time lows as it completed its two-day meeting today. Despite the decision not deviating from expectations, sterling suffered sizable losses relative to majors including the dollar and the euro as the Bank lowered its forecasts for growth in the current and following years. The pound’s decline continued as Mark Carney, the central bank’s Governor, appeared before the press after the decision announcement. Overall, the Bank’s decision, minutes and language used [..]

Forex Market Review (Asian Session) – Sterling gains ahead of BOE, Trump approves Russia sanctions, US-China trade at risk

Posted on August 3, 2017 at 7:41 am GMT

Markets have been relatively quiet during the Asian session with only a couple of notable economic data releases, which haven’t caused significant moves in the forex market. Looking ahead, the key event of the day will be Bank of England Governor Mark Carney’s speech and the central bank’s decision on interest rates. Out of Asia, China’s Caixin services PMI and Australia’s balance of trade were the two main economic releases. The services PMI inched down to 51.5 in July from [..]

Forex Market Review (European Session) – Sterling at fresh 10½-month high ahead of BoE; dollar close to 15-month lows

Posted on August 2, 2017 at 3:04 pm GMT

Today’s European session was a rather quiet one in terms of data, with forex market participants focusing on the number of jobs added by the US private sector in the preceding month, July construction PMI numbers for the UK and June eurozone producer prices. The dollar remained close to the multi-month lows from previous sessions. In the US, the ADP report showed private employers adding 178,000 positions in the economy during July. This negatively compares to expectations for 185,000 additions, [..]

Forex Market Review (Asian Session) – Asian currencies weaken against dollar as euro, sterling firm up; oil under pressure

Posted on August 2, 2017 at 7:26 am GMT

As traders in Europe were about to start the day, the dollar managed to retrace some of its losses against Asian currencies. However, the dollar index was moderately down at 93.01 as the euro and sterling strengthened. A weak labor market drove the New Zealand dollar lower during the Asian session, as the figures curbed the possibility of a shift in the central bank’s neutral guidance on monetary policy. Change in employment fell 0.2% in the second quarter, faring worse than the expected 0.7% expansion and well [..]

Forex Market Review (European Session) – Dollar weakness unfolds; sterling gains on manufacturing rebound

Posted on August 1, 2017 at 2:51 pm GMT

Today’s busy schedule of economic data releases kept forex traders active, following significant dollar moves last night. The US currency retraced some of the losses against most of its peers during the early European trading, but those gains were short lived as the greenback’s weakness unfolded ahead of the construction spending and PMI data releases. The European session kicked off with a set of PMIs out of the eurozone and its member countries, followed by the eurozone GDP figures for [..]

Forex Market Review (European Session) – Dollar edges up in quiet trading; euro unmoved by flash CPI data

Posted on July 31, 2017 at 3:00 pm GMT

Major currencies were steady in European trading on Monday as risk aversion and central bank meetings later in the week kept investors on the sidelines despite some key data releases. The US dollar inched higher against most other currencies but was weaker against the Japanese yen. The euro saw a mixed response to flash inflation numbers out of the Eurozone, while the pound held near last week’s 10-month highs ahead of ‘Super Thursday’. Fresh geopolitical tensions gave rise to some [..]

Forex Market Review (Asian Session) – Top world economies expand, but arising geopolitical risks take stage in forex markets

Posted on July 31, 2017 at 7:52 am GMT

The US dollar gained during the Asian session, with the dollar index up 0.20% to last trade at 93.44. The session was busy with ample of data from Asian economies signaling economic expansion. The euro and sterling declined against the US currency. Oil prices rose while gold gave up on some of Friday’s significant gains. Data signalling the latest economic activity in China was the main news of the day. While activity in the world’s second largest economy continued to [..]

Week Ahead – All eyes on NFP after dovish FOMC; RBA and BoE to hold rates

Posted on July 28, 2017 at 3:22 pm GMT

Key data out of the United States next week may provide the struggling dollar some boost after the Fed struck a less hawkish tone at the July policy meeting. The latest non-farm payrolls numbers will be the most keenly watched indicators of the week but central bank meetings in Australia and the UK will also be in focus. In other data, the preliminary flash GDP estimates for the Eurozone will be eyed too. RBA meets as aussie soars above $0.80 [..]

Forex Market Review (European Session) – Dollar continues declining after robust growth; loonie eyes fresh high

Posted on July 28, 2017 at 3:05 pm GMT

Second quarter US GDP estimates dominated investors’ attention during today’s European session trading. Certain components within the data led to the dollar recording losses as the news became public, though those were short-lived. In other notable releases, Canadian growth figures for May were released today as well. The much-awaited preliminary US GDP estimates for the second quarter of the year showed the economy expanding at an annualized rate of 2.6%, as expected. First quarter growth was revised downwards to 1.2% [..]

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