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GBPUSD

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Forex Market Review (European Session) – Oil surges on inventories draw; dollar drops against yen despite upbeat construction figures

Posted on July 19, 2017 at 2:53 pm GMT

Today’s European session was a relatively quiet day as no major data releases were reported. US figures pointing to healthy construction activity and crude oil inventories were the main figures of the day. The dollar continued sliding against the yen while sterling and the euro were under some pressure against the greenback. US homebuilding rebounded more than expected in June after declining for three consecutive months. However, this pick-up did little for the second quarter expansion that remained subdued when [..]

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Forex Market Review (Asian Session) – Markets calm ahead of ECB, BoJ meetings; oil pressured on US inventories

Posted on July 19, 2017 at 7:45 am GMT

It has been a quiet overnight session ahead of what could be a stormy Thursday with the European Central Bank and the Bank of Japan holding their policy meetings. Most majors traded in a narrow range, while oil prices recorded the biggest move of the day. The Australian and New Zealand dollars continued gaining against their US counterpart during the Asian session. Aussie/dollar was up to last trade at 0.7932, supported by comments perceived to be hawkish from the Reserve Bank of Australia’s policy [..]

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Forex Market Review (European Session) – Dollar at fresh 10-month low; sterling hurt by weaker-than-expected inflation

Posted on July 18, 2017 at 3:04 pm GMT

In terms of economic releases, UK inflation numbers were by far the most important release during today’s European session. The downside miss hurt sterling which posted a ten-month high versus the dollar earlier in the session. In other news, the currency markets were once again anything but deaf to political developments, pushing the dollar to new lows on the seeming inability by the Trump administration to repeal and replace Obamacare. The dollar index, a broader gauge of the US currency’s [..]

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Forex News – UK inflation slows in June; sterling takes a hit on falling rate rise prospects

Posted on July 18, 2017 at 11:07 am GMT

UK CPI data for the month of June showed inflation slowing during the month. The decline in annual inflation marks the first slowdown since October of last year and led sterling to record losses relative to other major currencies. Market participants interpreted the figures as easing pressure on the Bank of England to raise rates as it convenes to set monetary policy in the beginning of August. Turning to the actual numbers, the annual inflation rate stood at 2.6% in [..]

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Forex Market Review (Asian Session) – Dollar pressured against all majors; RBA minutes push aussie to 2-year high

Posted on July 18, 2017 at 7:37 am GMT

As the Asian trading session was about to close, the US dollar was trending downward against most currencies on overnight news that the repeal of Obamacare is getting another push-back. The aussie rose following the release of the Reserve Bank of Australia’s minutes and the kiwi had a short tumble on the disappointing inflation figures. The greenback tumbled against most currencies overnight on news that two more Republican Senators would oppose the healthcare reform bill unveiled by their party last [..]

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Technical Analysis – GBPUSD bullish; eyes 10-month high

Posted on July 18, 2017 at 7:06 am GMT

GBPUSD closed higher in the preceding three out of four trading days. During Friday’s trading, it advanced by a hefty 1.3%, reaching a ten-month high of 1.3113 along the way. Technical indicators including the MACD and RSI are painting a bullish picture for the pair. In particular, the MACD is positive as well as above the red signal line. The RSI indicator is in bullish territory at 64 and keeps heading higher, indicating the existence of positive momentum in the [..]

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Forex Market Review (European Session) – Loonie hits fresh 14-month high; dollar steady after Friday sell-off

Posted on July 17, 2017 at 2:52 pm GMT

There was limited price action today as investors remained sidelined ahead of three big events this week. Major currencies mostly traded in tight ranges during the European session, while in the absence of major economic releases, the market focus has been on the start of the second round of the Brexit negotiations, the European Central Bank and the Bank of Japan meetings on Thursday. The greenback managed to slightly recoup against most majors following the sell-off on Friday amid the disappointing [..]

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