All Articles Tagged - GBPUSD

Mid-European Session – Euro and pound edge higher as dollar runs out of steam

Posted on February 16, 2017 at 12:55 pm GMT

Rising expectations of a near-term rate hike by the Fed were unable to reverse the US dollar’s slide in European trading on Thursday. The US currency extended its Asian session losses to hit a low of 113.53 yen in mid-European trading. The declines were mainly triggered by profit taking following a two-week rally for the greenback since the start of the month. The dollar had hit a 2½-week high versus the yen yesterday, while the dollar index rose to 5-week [..]

European Session – Dollar extends gains on strong inflation and retail sales data

Posted on February 15, 2017 at 4:06 pm GMT

Today was a busy day in terms of economic data with major releases from the US and UK grabbing investors’ attention for the most part. On top of that, Federal Reserve chair, Janet Yellen, continued with her second day of testifying before US Congress as scheduled. The annual US headline inflation reading came in at 2.5% for January, the fastest pace in five years. It was up from a previous 2.1% and beat forecasts for a 2.4% increase. Higher gasoline prices [..]

Technical Analysis – GBPUSD neutral medium-term, pivoting key 1.25 level

Posted on February 15, 2017 at 3:28 pm GMT

GBPUSD has been in a consolidation phase since the beginning of the year and has been pivoting around the key 1.2500 level. The medium-term neutral bias is also highlighted by the fact that the 200-day moving average has leveled off, indicating a lack of direction in the market. The 200-day moving average is acting as an important support level at 1.2390. A daily close below this would bring another key support level into view at 1.2346. This is where there is [..]

European Session – Yellen signals rate hike at upcoming meetings; Dollar rallies

Posted on February 14, 2017 at 4:20 pm GMT

In stark contrast to Monday, today was filled with economic data releases from the US, Eurozone and the UK, while by late European session all eyes were fixed on the first of two days during which Fed Chair Janet Yellen will testify before Congress. US producer prices rose in January, driven by higher gasoline costs. The producer price index jumped 0.6 percent month-on-month from a prior 0.2 percent increase and was well above forecasts for a 0.3 percent increase. Meanwhile, [..]

Week Ahead – Inflation and Japan GDP in focus; Yellen testimony also eyed

Posted on February 10, 2017 at 4:17 pm GMT

Inflation will be the most watched data next week as China, the UK and the US report their monthly CPI figures. Japanese GDP numbers will also be important as Japan’s economy continues to show increasing signs of strength, while the Riksbank’s latest monetary policy meeting will likely attract attention too. However, the week’s highlight could come from Fed Chair Yellen’s testimony in Congress, which will be the first since Trump took office. Japan to post fourth straight quarter of growth [..]

European Session – Dollar surges above 113 yen on Trump tax comments

Posted on February 9, 2017 at 4:05 pm GMT

The yen fell back on Thursday as yesterday’s risk aversion ebbed slightly, although the recent uncertainty generated from Trump’s policies, the French elections and Brexit continued to weigh on market sentiment. The US dollar recovered from its earlier low of 111.70 yen to hit a European session high of 113.19 yen following the release of stronger-than-expected jobless claims out of the US and an announcement on taxes by the US President. Weekly jobless claims fell to a fresh 43-year low [..]

FX Daily Outlook | 09-02-17

Posted on February 9, 2017 at 10:25 am GMT

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European Session – Euro and pound firmer as dollar slips back below 112 yen

Posted on February 8, 2017 at 4:08 pm GMT

Markets remained mired in risk-off mood in Wednesday’s European session as global uncertainty regarding Trump’s presidency, European elections, Brexit and the Greek debt crisis all weighed on risk sentiment. The US dollar found itself back below 112 yen as the Japanese currency benefited from safe-haven demand and the yields on US Treasury Notes fell. The greenback was struggling around 111.90 yen in late European session in the absence of any major data release out of the US today. The euro [..]

Technical Analysis – GBPUSD near- and medium-term bearish

Posted on February 7, 2017 at 8:47 am GMT

GBPUSD has been experiencing losses for the fourth trading day in a row, falling to a more than two-week low. The RSI indicator is currently in bearish territory at 47, indicating near-term bearish sentiment. Note though that this is close to the 50 neutral level. If the price closes above the 50-day moving average, the area around 1.25, which managed to hold several times recently, is likely to act as resistance to upside moves. Should it be breached, the February [..]

European Session – Euro under pressure on French election concerns; Dollar stays mixed after NFP

Posted on February 6, 2017 at 4:02 pm GMT

The euro came under pressure on Monday as French election jitters led to a sell-off in French government bonds while the dollar was struggling for direction following Friday’s non-farm payrolls report. Uncertainty about the French election unsettled investors in European trading today as pressure grew on France’s conservative presidential candidate, Francois Fillon, to quit the race. It follows allegations that his wife was paid by the state for work she never did and comes amid ongoing strong support for the [..]

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