All Articles Tagged - GBPUSD

Daily Market Comment – FOMC minutes on the radar as dollar attempts comeback

Posted on May 24, 2023 at 9:11 am GMT

Dollar extends recovery, stock markets slide in risk-off session Sterling takes a hit despite hot UK inflation, RBNZ sinks the kiwi Debt ceiling nerves grow – are investors focusing on the wrong risk? Fed rethink, but not for stocks There is a sense of caution in the air, with equities sliding yesterday and the dollar finding some demand through the safe-haven channel. Conviction among traders seems low as several risks continue to cloud the outlook, while some classic correlations between [..]

Weekly Technical Analysis – NZDUSD, EURUSD, GBPUSD

Posted on May 23, 2023 at 9:37 am GMT

This week the focus of attention will be on the Reserve Bank of New Zealand policy meeting, the UK CPI data and the US Core PCE figures and the highlight would be to how NZDUSD, EURUSD and GBPUSD may react. RBNZ decision → NZDUSD This week, only the Reserve Bank of New Zealand will be having a policy meeting among the world’s major central banks. On Wednesday, most investors expect it to decide to increase interest rates by 25 basis [..]

Daily Market Comment – Markets calm but nervous as debt ceiling and Fed drama drag on

Posted on May 23, 2023 at 9:04 am GMT

Biden-McCarthy talks end with no deal but both sides remain hopeful Stocks subdued but dollar edges up as Fed rhetoric stays on the hawkish side Euro slips as mixed PMIs unable to lend much support No breakthrough yet in debt ceiling talks Pressure is building in Washington as there is yet to be any major breakthrough in the negotiations to reach an agreement on raising the US debt ceiling. While both President Biden and House Speaker Kevin McCarthy have reiterated [..]

Technical Analysis – GBPUSD moves with weak momentum within SMAs

Posted on May 23, 2023 at 7:24 am GMT

GBPUSD is moving with weak momentum within the 20- and the 50-day simple moving averages (SMAs), indicating that a sideways move may be on the cards in the short-term timeframe. The recent outlook is also confirmed by the technical oscillators as the MACD is standing below its trigger line and near the zero level, while the RSI is flattening beneath the neutral threshold of 50. Any bullish actions above the 20-day SMA could open the way for the next key [..]

Daily Market Comment – Powell talks pause but debt ceiling uncertainty weighs on sentiment

Posted on May 22, 2023 at 9:46 am GMT

Powell signals Fed may be done raising rates, pushing June hike odds into reverse Dollar takes a tumble but quickly finds its footing Stocks also struggle amid ongoing debt ceiling drama as clock keeps ticking Powell takes over pause debate, sides with the doves Fed Chair Jerome Powell waded into the policy debate on Friday, adding his much-anticipated view on whether or not the time has come to press the pause button on rate increases. It comes after a week-long [..]

Will a slowdown in UK inflation change the BoE’s plans? – Forex News Preview

Posted on May 19, 2023 at 12:23 pm GMT

With the BoE leaving the door open to more rate hikes at its latest gathering, pound traders will probably be sitting on the edge of their seats in anticipation of next week’s inflation numbers, scheduled to be released on Wednesday at 06:00 GMT. However, they could somewhat readjust their positions the day before, as they will get an idea of how the UK economy has been performing this month through the preliminary PMIs. The icing on the cake may be [..]

Technical Analysis – GBPUSD returns back inside the recent rectangle after failed breakout

Posted on May 19, 2023 at 12:10 pm GMT

GBPUSD is once again back inside the rectangle that has been dominating price action since November 15, 2022. This is the third failed upside breakout in the past 45 days, thus raising questions about the bulls’ determination. GBPUSD is currently testing the support set by both the upper boundary of the rectangle and the 50-day simple moving average (SMA). The bears are probably feeling a bit more confident, but the momentum indicators are not extremely encouraging for them. The Average Directional [..]

Week Ahead – RBNZ, Fed minutes, UK & US inflation, flash PMIs to headline packed week

Posted on May 19, 2023 at 11:40 am GMT

The RBNZ looks set to raise rates for a 12th time in the coming week, while inflation figures out of the United Kingdom and United States will be crucial in shaping rate hike expectations. After some shockingly bad data recently, Germany’s PMI readings will likely capture the most attention from S&P Global’s flash surveys for May. With sentiment still fragile, the PMIs could set the tone for equity markets, but will they aid the US dollar’s advance or will the [..]

Technical Analysis – GBPUSD trapped between key barriers

Posted on May 16, 2023 at 7:48 am GMT

GBPUSD attempted to recover some lost ground on Monday after its pullback from the 2021 descending trendline stalled near 1.2442. Despite its latest bullish efforts, the pair could not overcome its 20-day simple moving average (SMA), which has been acting as resistance over the past three days around 1.2520. Given the falling MACD and the negative slope in the RSI, which is set to cross below its 50 neutral mark, the risk is tilted to the downside rather than the [..]

Daily Market Comment – Dollar gains despite increasing Fed cut bets

Posted on May 12, 2023 at 8:07 am GMT

Jobless claims jump to a 1-1/2-year high Dollar attracts haven flows, but too early for reversal BoE hikes, revises up inflation and GDP projections Dow and S&P 500 reflect worries, Nasdaq stays supported Dollar takes safe-haven suit out of the closet The US dollar outperformed every other major currency yesterday, despite US data adding to worries about the US economy and prompting investors to increase bets with regards to rate reductions by the Fed later this year. Initial jobless claims [..]

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