All Articles Tagged - GBPUSD

Week Ahead – Fed, ECB and BoJ decisions take center stage

Posted on July 21, 2023 at 10:49 am GMT

Following a relatively quiet week in terms of economic data and events, the spotlight now turns to three major central banks: the Federal Reserve, the European Central Bank, and the Bank of Japan. With investors anticipating only one more hike by the Fed, the focus will be on whether officials will signal the end of this hiking cycle, while with several ECB members pushing back on a September hike, it will be interesting to see whether Lagarde has also changed [..]

Daily Market Comment – Fed expectations swing again, lifting dollar, tech stocks tumble

Posted on July 21, 2023 at 9:16 am GMT

Strong jobless claims revive higher for longer bets for the Fed, buoying the dollar Upbeat data also come to pound’s aid, but yen slips as expectations for BoJ surprise fade Dow Jones and Nasdaq go their separate ways on mixed earnings amid tech selloff Markets suffer another reality check Investors pared back their expectations that the Federal Reserve will embark on an aggressive rate cutting campaign next year after yet another solid jobless claims print on Thursday. Claims for unemployment [..]

As dollar fights back, can flash PMIs revive the euro and pound rally? – Forex News Preview

Posted on July 20, 2023 at 1:22 pm GMT

The flash PMI readings for July are due on Monday for the major economies. The highlights as usual will be for the euro area (08:00 GMT), the United Kingdom (08:30 GMT) and the United States (13:45 GMT). Economic growth has been losing steam in most parts of the world amid surging interest rates, but the pace of disinflation has been somewhat less synchronized. This has put the spotlight on monetary policy divergence as far as the FX market is concerned. [..]

Daily Market Comment – Dollar’s fate lies on the Fed as ECB officials soften tone

Posted on July 20, 2023 at 8:32 am GMT

Dollar extends recovery, awaits Fed decision ECB’s Stournaras said July hike would be enough Pound, yen extend retreat, aussie gains on jobs report Tesla and Netflix earnings results disappoint Dollar’s fate lies in the hands of the Fed The dollar continued to trade higher against most of the other major currencies on Wednesday, perhaps as traders further liquidated short positions after last week’s tumble due to the larger-than-expected slowdown in consumer and producer prices for June. Nonetheless, in the absence of [..]

Daily Market Comment – Retail sales help the dollar, Pound slides on CPIs

Posted on July 19, 2023 at 8:16 am GMT

Dollar sellers lock profits on resilient core retail sales ECB hawk Knot casts doubts over September rate hike UK inflation slows more than expected, pound pulls back Tesla and Netflix earnings enter the limelight Dollar rebounds, but Fed cut bets remain firmly on the table The US dollar traded slightly higher against most of the other major currencies on Tuesday, extending its recovery during the Asian session Wednesday. Although data showed that US retail sales rose less than expected in [..]

Technical Analysis – GBPUSD awaits next directional move

Posted on July 18, 2023 at 3:12 pm GMT

GBPUSD has a difficulty in reviving last week’s bullish explosion, which lifted the pair to a 15-month high of 1.3141. In the four-hour chart, the price seems to be moving sideways within a bullish pennant formation, which theoretically is a sign of a positive trend continuation after an almost vertical increase. Yet, with the 20-period simple moving average (SMA) blocking the way higher at 1.3094 and the RSI extending its downward trajectory towards its 50 neutral mark, a bearish triangle breakout [..]

Technical Analysis – GBPUSD pulls back from 15-month peak; bullish structure holds

Posted on July 18, 2023 at 8:08 am GMT

GBPUSD has been in a prolonged uptrend since October 2022 supported by its long-term ascending trendline. Last Friday, the pair stormed to a fresh 15-month high of 1.3141 before paring some gains, but it is still too early to call this a downside correction. However, the momentum indicators are holding well within their overbought territories, hinting that the recent pullback could extend. Specifically, the stochastic oscillator is negatively charged within its 80-overbought territory, while the RSI remains directionless in overbought conditions. If [..]

Weekly Technical Analysis – USDJPY, GBPUSD, Gold

Posted on July 17, 2023 at 1:16 pm GMT

Following a disastrous week for the US dollar, investors will be eagerly waiting for retail sales data to provide a helping hand to the currency on Tuesday. Gold will be closely watched for the same reason as a weakening dollar has been great for the precious metal lately. Meanwhile in the UK, CPI inflation figures could next challenge the rocket rally in the pound on Wednesday. US retail sales –> USD/JPY Retail sales data will be the next highlight in on [..]

Week Ahead – Focus on China GDP and US retail sales, more CPI data on tap

Posted on July 14, 2023 at 10:39 am GMT

Inflation data will continue to dominate the economic agenda in the coming week, although the spotlight will probably fall on Chinese GDP figures as well as US retail sales. The countries reporting CPI numbers include Canada, New Zealand, Japan and the United Kingdom. With inflation seemingly coming under control in America, investors will be on the lookout for any divergence in other countries’ progress. However, sentiment will likely be shaped by growth indicators from the world’s two largest economies as [..]

Daily Market Comment – Dollar takes another bullet after easing producer prices

Posted on July 14, 2023 at 8:13 am GMT

US producer prices barely increase in June Dollar extends fall as investors add to their Fed cut bets Euro and pound extend their uptrends; aussie and kiwi rally Wall Street rises on cooling inflation; bank earnings on tap Dollar takes another dive after soft PPI data The US dollar extended its free fall on Thursday against all the other major currencies, taking another steep dive after more US data added credence to the view that the Fed may be closer [..]

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