All Articles Tagged - GBPUSD

Forex Market Review (Asian Session) – Oil slides after OPEC fails to do more; sterling drops on polls

Posted on May 26, 2017 at 7:08 am GMT

Sterling was one of the worst performing major currencies against the US dollar after tumbling on a recent poll showing UK Prime Minister Theresa May’s lead was falling. Oil slid on disappointment following the OPEC deal. Investors were hoping for deeper cuts at the OPEC gathering in Vienna yesterday that also included some non-OPEC producers. A deal was reached to extend a current output cut agreement by another nine months, taking it to March 2018. This was already priced in [..]

Forex Market Review (European Session) – Dollar still weighed by Fed minutes; Oil falls after OPEC extends cuts

Posted on May 25, 2017 at 2:15 pm GMT

The US dollar remained weighed by yesterday’s FOMC minutes where Fed policymakers appeared a bit more concerned about the soft patch affecting the US economy. Crude oil was also in focus as OPEC and some non-OPEC countries met in Vienna to discuss whether to extend the output cut deal, which is due to expire at the end of June. The greenback bounced back in Thursday’s European session, rising as high as 111.94 yen from yesterday’s low of 111.47 yen, before [..]

Forex News – UK GDP unexpectedly revised lower; Sterling drifts lower

Posted on May 25, 2017 at 10:40 am GMT

Economic growth in the UK was unexpectedly revised lower in the first quarter of 2017, as industrial production and services rose by less than initially estimated. Quarter-on-quarter growth was revised down from 0.3% in the preliminary reading to 0.2% in the second estimate, giving a year-on-year rate of 2.0%. Expectations were for both the quarterly and annual figures to remain unrevised at 0.3% and 2.1% respectively. They compare with growth of 0.7% q/q and 1.9% y/y in the final three [..]

FX Daily Outlook | 25-05-17

Posted on May 25, 2017 at 8:53 am GMT

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Forex Market Review (Asian Session) – Dollar lags after Fed minutes; loonie hits new month high; oil gains ahead of OPEC

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

The US dollar was heavy after the FOMC minutes, while the Canadian dollar outperformed across the board on an upbeat Bank of Canada. Oil prices extended gains ahead of the OPEC meeting in Vienna today. The minutes from the Fed’s May policy meeting showed some caution, despite most FOMC members indicating that another interest rate increase would be appropriate soon. The probability of a rate hike at the June FOMC meeting remains quite high – above 80% – but the [..]

Forex Market Review (European Session) – Loonie gains after BOC; greenback sidelined ahead of FOMC minutes

Posted on May 24, 2017 at 3:18 pm GMT

The Canadian dollar was one of the best performing major currencies today after it gained on an upbeat Bank of Canada. The BOC held its benchmark interest rate at 0.5% as expected but its statement was more positive overall. It said that recent domestic economic data have been encouraging and inflation was broadly in line with expectations. After trading mostly flat for most of the day, the USD / CAD tumbled on the BOC announcement, dropping below the key $1.3500 [..]

Forex Market Review (European Session) – Pound hits 2-month low versus euro amid strong Eurozone data and Manchester blast; loonie at 1-month high

Posted on May 23, 2017 at 2:54 pm GMT

The euro held near six-month highs against the dollar after strong Eurozone PMI data. Sterling remained under pressure due to the events in Manchester and following disappointing data related to the UK retail sector. The US dollar was flat against a basket of major currencies. The loonie hit a one-month high. The euro gained on the back of strong Eurozone and German PMI data, providing encouraging news for the European Central Bank which is expected to start unwinding its unprecedented [..]

Forex Market Review (Asian Session) – Sterling briefly impacted by Manchester blast; gold benefits from safe haven flows

Posted on May 23, 2017 at 7:37 am GMT

Risk appetite was dampened after news of the bomb blast in Manchester that killed more than twenty people late on Monday night. Sterling weakened immediately after the reports, while safe haven assets like the yen and gold strengthened. An uncertain political climate in the US weighed on the dollar. The pound dropped against the yen and the Australian dollar during Asian trading. It was impacted less against the greenback and the euro. Pound / yen fell half a percent from [..]

Forex Market Review (European Session) – Euro boosted to new 6-month highs on Merkel remarks; sterling regains $1.30

Posted on May 22, 2017 at 2:46 pm GMT

There were some notable moves in the currency markets despite an absence of major economic data releases during the session. The euro rallied across the board on German Chancellor’s views on the weak euro. Sterling challenged the key $1.3000 level on Brexit concerns and UK election polls. The dollar index slipped to fresh year-to-date lows. The euro was one of the best major performing currencies after it rose on headlines showing the Merkel said the euro was too weak. Talking [..]

Forex News – UK Conservatives’ lead halves in polls, sending sterling below $1.30

Posted on May 22, 2017 at 12:52 pm GMT

The ruling Conservative party in the UK is facing a backlash from both voters and party members following the inclusion in the party’s election manifesto of controversial changes to how social care would be funded for the elderly. The unpopularity of the policy was evident in the latest opinion polls from the weekend which pointed to a significant drop in support for Prime Minister Theresa May’s party. One poll showed the Conservatives slipped 5 points to 43%, while the main [..]

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