All Articles Tagged - GBPUSD

Forex Market Review (Asian Session) – Dollar remains below 114-yen; focus on upcoming US data and Fed speakers

Posted on May 12, 2017 at 7:36 am GMT

Currency markets were relatively quiet during the Asian session, partly due to the absence of key data releases. A lack of a catalyst to move currencies kept most major pairs trading in ranges during the session. The market focus will turn to upcoming US economic data later today. The dollar remained below the key 114-yen level and edged slightly lower in Asian trading to touch 113.63 yen. A key risk for the greenback will be the US economic data on [..]

Forex News – Pound slips below $1.29 as Bank of England warns of a slowdown

Posted on May 11, 2017 at 3:03 pm GMT

The Bank of England signalled it may have to raise interest rates sooner than what is being anticipated by the markets, as it kept monetary policy unchanged at the end of its two-day meeting today. Monetary policy committee (MPC) members voted 7-1 to hold rates at a record low of 0.25%, in a widely expected move. Outgoing MPC member, Kristin Forbes, was the sole dissenter for the second meeting in a row. There had been some speculation by market participants [..]

Forex Market Review (European Session) – Sterling weak after soft UK data and BOE; yen broadly stronger

Posted on May 11, 2017 at 2:47 pm GMT

The pound fell after the Bank of England announced its latest decision on monetary policy and also released an update of its inflation projections, downgrading longer-term forecasts. The yen was broadly stronger, while the euro dipped further. Gold and oil gained. Sterling began falling ahead of the BoE decision, after disappointing UK data which showed industrial production fell 0.5% month-on-month in March, reflecting weaker manufacturing, which dropped by a larger-than-expected 0.6% month-on-month, following a 0.3% fall in February. Meanwhile, the UK reported a larger-than-forecast [..]

FX Daily Outlook | 11-05-17

Posted on May 11, 2017 at 8:49 am GMT

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Forex Market Review (Asian Session) – Kiwi drops to 11-month low after RBNZ; pound steady ahead of BOE

Posted on May 11, 2017 at 7:32 am GMT

The New Zealand dollar under-performed after a neutral RBNZ policy outlook. Sterling was steady ahead of the Bank of England meeting and the release of the BOE quarterly inflation report. The kiwi tumbled to an 11-month low against the greenback as the RBNZ noted a lack of inflation pressure in the economy and indicated it would keep rates low for an extended period of time. The Bank left rates at 1.75%, which was widely expected, but the markets were hoping [..]

Forex Market Review (European Session) – Dollar and pound hold near highs; euro subdued after Draghi

Posted on May 10, 2017 at 2:44 pm GMT

Major currencies were stuck in tight ranges in Wednesday’s European session as the market lacked fresh impetus in a relatively quiet trading day. The euro was subdued after ECB President Mario Draghi failed to give a clear signal of stimulus withdrawal, while dollar/yen and cable held near multi-week highs on expectations of tighter monetary policy. The main event of the day was a hearing in the Dutch parliament where European Central Bank head, Mario Draghi spoke about monetary policy. Draghi [..]

Technical Analysis – GBPUSD finds strong resistance at 1.30 but maintains bullish bias

Posted on May 10, 2017 at 9:58 am GMT

GBPUSD has been attempting to challenge the key 1.30 level in recent days but has been unable to break above this psychological barrier. The pair has gained about 7% since mid-March, taking prices above both the 50- and 200-day moving averages. The near-term bias remains strongly bullish as the RSI is holding close to the 70 level, though it has come off the highs seen at the end of April. The potential for further gains is also demonstrated by the [..]

Forex Market Review (European Session) – Euro pulls back from 6-month highs; Sterling holds within sight of $1.30

Posted on May 8, 2017 at 2:55 pm GMT

The euro’s relief rally from the French presidential result faded in European trading on Monday as profit taking set in, while the safe-haven yen recovered from its earlier weakness. The US dollar also gave up its earlier gains versus the yen but was firmer when measured against a basket of currencies. The single currency hit a 6-month high of 1.1022 dollars at the Asian open but had retreated to 1.0940 by late European session. A win for the centrist candidate [..]

Week Ahead – Bank of England meeting and US inflation numbers will be main focus

Posted on May 5, 2017 at 2:42 pm GMT

The main focus of the markets in the upcoming week will be on the Bank of England policy meeting and on US data releases which include inflation and retail sales. Bank of England The Bank of England holds its monthly policy meeting on Thursday, and so all eyes will be on the Monetary Policy Committee’s decision on interest rates and QE. At the same time, the BOE will release its latest quarterly Inflation Report, containing new projections for economic growth and [..]

Forex Market Review (European Session) – Dollar at 113-yen after jobless claims before easing; strong Eurozone and UK PMI data

Posted on May 4, 2017 at 3:02 pm GMT

Plenty of data hit the markets today, including weekly jobless claims out of the US and April services PMI data for the UK and Eurozone, which also saw the release of final composite PMI figures for the same month. The dollar, as gauged by the dollar index, was down two-tenths of a percent in late European session trading with dollar / yen close to the day’s open of 112.73. Out of the US, last week’s jobless claims fell by 19,000 [..]

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