All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD bullish above key 1.3000 level

Posted on July 28, 2017 at 7:50 am GMT

GBPUSD hit its highest level since September 2016 yesterday, touching 1.3158. The pair is expected to maintain its short-term bullish bias as long as it holds above the key psychological level of 1.3000. Any retracements will find this 1.3000 level as an immediate support but a fall below the July 12 low of 1.2853 would increase the prospects of continued downside to target the June 21 low of 1.2588. At this point the bias will shift to bearish and would suggest a [..]

Forex Market Review (European Session) – Dollar recoups modestly on hopes of business spending underpinning GDP growth

Posted on July 27, 2017 at 2:43 pm GMT

The dollar somewhat rebounded during the European session with the dollar index up 0.1%. The latest data on durable goods orders, jobless claims and trade balance on goods supported the US currency to retrace some of earlier losses post the Federal Open Market Committee meeting. The euro declined against the greenback by 0.35% as the US session was about to start. Monthly orders for durable goods in the US rose 6.5% last month, expanding at more than double the expected [..]

Forex Market Review (Asian Session) – Fed’s inflation concern weakens dollar; aussie, kiwi at two-year high

Posted on July 27, 2017 at 7:47 am GMT

It was a relatively quiet data day in forex markets prompting traders to dwell over yesterday’s events, namely the Federal Open Market Committee (FOMC) meeting. As a result of the Federal Reserve’s dovish tone, the weakness in the US dollar unfolded, with the dollar index hitting a fresh 13-month low. The Australian and New Zealand dollars jumped to two-year highs as traders sold off the greenback. The Fed confirmed market anticipations of the federal funds rate remaining at the same target [..]

Forex News – Fed to cut balance sheet ‘relatively soon’; dollar slips on change in inflation language

Posted on July 26, 2017 at 7:55 pm GMT

The Federal Reserve announced its widely expected decision to hold the federal funds rate at a target range of between 1.00% and 1.25% on Wednesday. In another widely anticipated move for the July meeting, the Federal Open Market Committee (FOMC) signalled it will begin the process of reducing its $4.5 trillion balance sheet “relatively soon”. At the last meeting in June, the Fed had said balance sheet normalization would start “this year”, having first flagged the action back in March. [..]

Forex Market Review (European Session) – Forex market awaits FOMC statement; pound helped by UK GDP

Posted on July 26, 2017 at 2:54 pm GMT

It was a relatively quiet day in forex markets as traders were mostly looking forward to the Fed statement later in the US session and as UK second quarter GDP figures were in line with estimates. In the day’s main economic news, the preliminary estimate of UK second quarter GDP came in line with expectations at 0.3% quarter-on-quarter and 1.7% year-on-year. This was on the one hand a slowdown from the previous quarter’s 2% year-on-year growth rate but the quarterly [..]

Forex News – UK Q2 GDP growth initial estimate pushes sterling down

Posted on July 26, 2017 at 1:10 pm GMT

On Wednesday, sterling edged down after initial UK GDP growth estimates showed that the expansion of the British economy continued its downtrend in the June quarter, recording the lowest yearly growth since 2013. This followed the IMF’s downgrade of its UK GDP growth forecasts on Monday. With uncertainty around Brexit talks in the background, which have not made any significant progress so far, the BOE policymakers are expected to keep interest rates steady next week. According to the Office for National Statistics, the British economy grew by 1.7% year-on-year as expected [..]

Forex Market Review (Asian Session) – Dollar gains ground ahead of FOMC; aussie suffers on softer inflation

Posted on July 26, 2017 at 7:43 am GMT

Inflation figures out of Australia were today’s main data release during Asian session trading. The softer than expected data led to the aussie posting losses. Beyond that, the dollar index seems to be maintaining some positive momentum following yesterday’s upbeat consumer confidence report. The dollar’s index against a basket of currencies was up 0.2% as Asian traders were about to complete their trading day. It stood above the 94 mark, but not far above 93.64, the 13-month low reached yesterday. [..]

Forex Market Review (European Session) – Pound and euro surge on rising yields; US data lifts dollar from doldrums

Posted on July 25, 2017 at 2:58 pm GMT

Risk appetite recovered in European trading on Tuesday as rising government bond yields helped financial stocks, as well as lift the euro and the pound. US treasury yields also moved higher on expectations that the Fed will soon proceed with shrinking its bond portfolio. However, the US dollar was stuck in the doldrums for much of the session as investor caution ahead of the FOMC meeting and political uncertainty weighed on the currency. The euro surged to a fresh high [..]

FX Daily Outlook | 25-07-17

Posted on July 25, 2017 at 8:51 am GMT

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Forex Market Review (Asian Session) – Dollar softens ahead of FOMC meeting; Saudi Arabia helps push oil prices up

Posted on July 25, 2017 at 7:26 am GMT

During the Asian session, forex markets didn’t have much to react to in the absence of important economic releases. Hence, yesterday’s events along with the upcoming two-day US Federal Open Market Committee meeting that starts today have been commanding most of the moves today. The US dollar weakened against most currencies as investors await the news from the two-day FOMC meeting on interest rate policy that starts later today. Many investors expect the Federal Reserve to announce that it will begin [..]

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