All Articles Tagged - GBPUSD

Daily Market Comment – Dollar’s woes deepen ahead of US retail sales data, stocks rejoice

Posted on April 14, 2023 at 8:57 am GMT

US dollar slumps to one-year low as soft data bolsters case for Fed pause Wall Street rallies on Fed bets, but bank earnings pose a downside risk Fed-ECB divergence pushes euro towards $1.11, yen selloff eases Fed pause seen more likely after latest US data batch It’s been another week of underwhelming data releases out of the United States, and after the latest figures on consumer and producer prices added to the softening economic picture highlighted by last week’s ISM [..]

Pound traders lock their gaze on the UK inflation data – Forex News Preview

Posted on April 13, 2023 at 11:23 am GMT

With inflation in double digits, the BoE is among the few major central banks that are not expected to push the cut button during 2023. With that in mind, pound traders may pay close attention to the UK CPI figures for March, due out on Wednesday at 06:00 GMT. Will the March numbers add credence to expectations of more hikes by the BoE? And what will they mean for the pound? Investors expect more hikes by the BoE and no [..]

Week Ahead – Avalanche of data releases to keep traders busy

Posted on April 13, 2023 at 10:04 am GMT

There are no major central bank decisions scheduled for next week, but that doesn’t mean markets will be quiet as there’s a ton of data releases that can fuel volatility. The highlight will be China’s economic growth, which will reveal exactly how powerful the reopening boost was. Meanwhile in Europe, the latest business surveys could decide whether the euro’s rally still has some miles left in the tank. China set for growth rebound The world’s second-largest economy has been battered [..]

Technical Analysis – GBPUSD tests 10-month peak; bullish bias

Posted on April 13, 2023 at 9:45 am GMT

GBPUSD is challenging the ten-month high of 1.2525 once again and any successful climb above this level could endorse the long-term bullish bias. The MACD remains near its trigger line in the positive territory, while the RSI is pointing up and is approaching the overbought region. In the case of more upside pressures the price could rest near the 1.2665 resistance level, registered back in May 2022 ahead of the 200-weekly SMA and the bottom point in November 2020 at 1.2845. Alternatively, [..]

Daily Market Comment – Wall Street and dollar see-saw as Fed rate path steepens

Posted on April 11, 2023 at 8:15 am GMT

US stocks stage late rebound despite ratcheting up of Fed rate hike bets Asian mood also perks up as regional central banks seen on pause Dollar extends post-NFP gains before easing again; US CPI the main focus US equities attempt a come-back ahead of earnings Wall Street experienced a see-saw session on Monday as traders had the first chance to respond to Friday’s NFP report when the market was closed for the Easter break. The S&P 500 and Nasdaq both [..]

Technical Analysis – GBPUSD remains above 1.2400, recouping some losses

Posted on April 11, 2023 at 6:42 am GMT

GBPUSD has reversed back down again after finding resistance at the ten-month high of 1.2525 in the preceding week but is currently trying to recoup some of the losses. The momentum indicators are showing some contradictory signs as the MACD is still standing beneath its trigger line in the positive area, while the RSI is pointing slightly up above the neutral threshold of 50. The 20- and the 50-day simple moving averages (SMAs) posted a bullish crossover, and the price is [..]

Week Ahead – US CPI data, Fed minutes, and BoC decision on investors’ radar

Posted on April 7, 2023 at 10:46 am GMT

Next week starts on a quiet note as Monday is Easter Monday for most economies on our radar. That said, the calendar becomes heavier as the days pass by, with the spotlight probably falling on the US CPI numbers for March, the minutes from the latest FOMC gathering, and the BoC decision. The US data will probably constitute another piece of information in the riddle of whether the Fed should hit the hike button one last time in May, while [..]

Technical Analysis – GBPUSD rises to a fresh 9-month high

Posted on April 4, 2023 at 8:33 am GMT

GBPUSD has been experiencing significant swings within a rectangle pattern for the past four months. In the short term, the pair has been in a recovery mode after hitting the bottom of its range and in today’s session it managed to surpass the crucial 1.2445 area , which has acted as strong resistance both in December and January. The momentum indicators currently suggest that near-term risks are tilted to the upside. Specifically, the RSI is climbing above its 50-neutral mark, while [..]

Technical Analysis – Will GBPUSD manage to overcome the 1.2440 hurdle?

Posted on March 31, 2023 at 12:11 pm GMT

GBPUSD traded lower on Friday but triggered some buy orders near the 1.2350 zone and rebounded. That zone acted as resistance on March 23 and 29 and thus, as long as the pair stays above it, the chances for a move higher likely remain decent. In the somewhat bigger picture, GBPUSD is trading above the uptrend line drawn from the low of March 8 and above all three of the plotted moving averages. Both short-term momentum indicators are detecting upside [..]

Daily Market Comment – Stocks headed for quarterly gains despite turmoil, dollar set for losses

Posted on March 31, 2023 at 9:26 am GMT

Equities to end week and quarter in buoyant mood as tech-led rebound gathers pace Fed speakers keep rate hike door wide open, dollar firms but still down in Q1 Tokyo CPI beat unable to halt yen’s slide, US and Eurozone inflation coming up next Stocks shrug off banking mess as turbulent quarter closes Equity markets may have taken a strong knock from the banking crisis, which sprung out of the blue earlier this month, but the speed at which they [..]

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