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GBPUSD

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Asian Session – Dollar fades strength ahead of Fed Chair Yellen’s speech; yen gains after Japan CPI

Posted on March 3, 2017 at 8:29 am GMT

The dollar faded its recent strength that was driven by increasing confidence that the Federal Reserve will raise rates this month. The yen strengthened after four days of losses, following data that showed a moderate rise in Japanese inflation. Japan’s core CPI number rose 0.1% year-on-year in January and was the first increase since December 2015. It was expected to remain flat after a 0.2% decline in December. The uptick in inflation would be a relief for the Bank of Japan, although [..]

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European Session – Dollar at 7-week high on strengthening prospects of March rate hike

Posted on March 2, 2017 at 4:02 pm GMT

March Fed rate hike expectations continued to drive the dollar higher in today’s European session, while in terms of economic data, weekly jobless claims out of the US, Eurozone inflation and unemployment rate data and Canadian GDP figures were of most interest. The number of US jobless claimants fell to 223,000 last week from 242,000 the previous week. This points to a healthy jobs market and marks a near forty-four-year low, while it was below analysts’ forecasts of a 243,000 [..]

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Technical Analysis – GBPUSD turns more bearish below 50-day moving average

Posted on March 2, 2017 at 2:24 pm GMT

GBPUSD has shifted from a neutral to a more bearish bias in the short term after a sharp break below the 50-day moving average (MA) on Wednesday. Since January 24, the 50-day MA was acting as a strong support level but failed to hold any longer and prices broke below it at the 1.2391 level to fall close to another support level at 1.2252. RSI is trending down and already in bearish territory below 50, which suggests that there is [..]

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Asian Session – Dollar boosted by more hawkish Fed speak; Brainard lifts expectations of March rate hike

Posted on March 2, 2017 at 8:28 am GMT

Dollar strength dominated the markets as a more hawkish tone from the Fed raised the probability of a rate hike this month. FOMC member Lael Brainard, who is usually dovish, gave a hawkish speech yesterday and hinted at an early rate increase. Brainard’s bullish comments follow those of other Fed speakers who have also recently supported their view that it was appropriate to increase rates soon. Earlier this week, New York Fed President William Dudley, a known dove, said the [..]

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European Session – Dollar gains as odds of a March rate hike increase

Posted on March 1, 2017 at 3:56 pm GMT

It was a busy session in European trading today as market participants were evaluating US President Donald Trump’s first speech before Congress while there was an abundance of economic data releases to digest as well. Trump’s speech on the one hand offered some relief as the US President appeared more conciliatory in his comments than in the past. On the other hand though, he didn’t deliver as much as expected regarding the specifics on how he plans to deliver on [..]

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Investment Theme – Pound hit by fresh Scottish referendum fears as Article 50 deadline looms

Posted on February 28, 2017 at 3:25 pm GMT

The British pound has been hit by fresh market jitters about a possible call for another Scottish independence referendum, threatening to create a major headache for the UK government as it prepares to formally give notice to the European Union of its intention to leave the organization. While the risk of a fresh referendum by the Scottish Nationalist Party (SNP) is nothing new, reports in the Sunday Times over the weekend that UK Prime Minister, Theresa May, is readying for [..]

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European Session – Euro rises to $1.06; dollar weak ahead of Trump budget speech

Posted on February 27, 2017 at 4:00 pm GMT

The euro strengthened against the dollar on news of more favorable opinion polls for independent French presidential candidate Emmanuel Macron. The US dollar lagged against most major counterparts despite upbeat durable goods orders data, as investors await US President Donald Trump’s address to Congress on Tuesday when he is expected to reveal details of his spending plans and tax cuts. Trump’s speech may disappoint the markets if he does not give more specifics in terms of numbers or a more [..]

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