All Articles Tagged - GBPUSD

Asian Session – Pound tumbles across the board after approval of Brexit bill; dollar strengthens ahead of FOMC

Posted on March 14, 2017 at 8:27 am GMT

Currency markets were in a wait-and-see mode during the Asian session as investors were cautious ahead of central bank meetings this week (which include the Federal Reserve, the Bank of Japan and the Bank of England) and the Dutch elections on Wednesday. These risk events prevailed over strong Chinese economic data released today. The FOMC begins its two-day policy meeting today and it is widely expected to increase interest rates by least a quarter of a percentage point. Solid US [..]

European Session – Euro retreats from 1-month high; pound rallies

Posted on March 13, 2017 at 3:53 pm GMT

The US dollar was mixed during the European session, while the yen was supported by cautiousness among investors ahead of the FOMC statement. The euro slipped from a one-month high hit earlier against the dollar, while the pound was mostly higher on expectations that a bill regarding Brexit will be passed today by the UK House of Commons. The upcoming FOMC meeting remained the focal point for the markets today in the absence of key economic data releases. The only [..]

FX Daily Outlook | 13-03-17

Posted on March 13, 2017 at 9:28 am GMT

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Asian Session – Euro rallies to 3-month high against Swiss franc; dollar soft ahead of FOMC

Posted on March 13, 2017 at 8:39 am GMT

The markets turn their focus on a lot of event risk this week, with the highlight being the FOMC meeting on Tuesday and on Wednesday. A light economic calendar today led market players to re-adjust dollar positions after the strong US nonfarm payrolls report on Friday. Profit-taking on dollar / yen was extended today after the pair rallied to a 2-month high of 115.49 on Friday. The greenback headed lower to touch an Asian session low of 114.50. Investors are [..]

Week Ahead – Fed expected to raise rates, but BoJ, BoE to hold fire

Posted on March 10, 2017 at 4:31 pm GMT

With a number of central bank meetings lined up next week, the US Federal Reserve is the only one that’s expected to make a move. Central bank meetings in Japan, Norway, Switzerland and the UK may end up being a non-event as all eyes will be on the FOMC’s updated rate projections. The US will also dominate in terms of data as inflation and retail sales numbers are due to be published. Bank of Japan to stand still as further [..]

European Session – Strong US jobs growth as rate hike seems to had been already priced in

Posted on March 10, 2017 at 4:11 pm GMT

As anticipated, the much-discussed US jobs report was first and foremost in investor minds today as, among others, it was widely viewed as the last factor that could sway the Fed’s final decision next week away from what seemed imminent, that is to hike rates in its upcoming meeting. Besides that, market participants also had to digest the jobs report out of Canada and some data out of the UK. The US nonfarm payrolls report showed an addition of 235,000 [..]

Technical Analysis – GBPUSD bearish outlook after hitting a more than seven-week low

Posted on March 10, 2017 at 8:54 am GMT

GBPUSD hit a more than seven-week low during yesterday’s trading. At the moment, it is mostly unchanged from the day’s open while price movement has been lacking volatility as well. The RSI is currently bearish and well below the 50 neutral level at 34. The stochastics are also painting a negative short-term picture, as the %K line is in negative territory as well. Note though that %K is in oversold territory below the 20 mark. This could be a sign [..]

European Session – Euro gains on less dovish Draghi, Macron’s lead

Posted on March 9, 2017 at 4:00 pm GMT

The main event for the day was the European Central Bank’s policy meeting. The ECB kept monetary policy on hold as expected while its President, Mario Draghi, struck a less dovish tone than usual that helped boost the euro. In terms of economic releases, US initial jobless claims gathered most investor attention. The ECB left its key interest rates unchanged as it convened for its policy meeting today (refinancing rate at 0%, deposit rate at -0.4% and marginal lending rate [..]

FX Daily Outlook | 09-03-17

Posted on March 9, 2017 at 10:09 am GMT

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Asian Session – Dollar continues its climb as odds of hike rise above 90%

Posted on March 9, 2017 at 8:25 am GMT

The dollar continued rising after yesterday’s strong ADP National Employment Report, which showed robust growth in private-sector payrolls. A rate hike during next week’s FOMC meeting is now considered near-certain as the odds of one materializing now exceed 90% based on CME Group’s 30-Day Fed Fund futures prices. It is now unlikely that tomorrow’s US employment report will be weak enough to sway the Fed away from a rate hike. The dollar index continued to advance and should it finish [..]

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