All Articles Tagged - GBPUSD

Equity indices continue higher unhindered – Stock Market News

Posted on February 17, 2023 at 1:58 pm GMT

Equity markets globally continue their advances unscathed by both the recent economic developments and balloon attacks. Amongst the key indices, the Italian MIB index leads the charge with a 16.2% increase since year-end, followed by Nasdaq 100 with a sizeable 13.4% rally. It is really intriguing that the European stock indices have been outperforming their US counterparts in the past 14 months. Could the European economy be in better shape than widely assumed? Stock markets are rumoured to reflect future [..]

Week Ahead – Fed minutes and RBNZ decision coming up

Posted on February 17, 2023 at 10:41 am GMT

Investors will receive another dose of crucial data releases next week that can fuel FX volatility. The highlight will be the minutes of the last FOMC meeting, where there’s a risk that policymakers strike a different tone than Powell did back then. Over in New Zealand, the central bank is about to roll out another rate hike. Meanwhile, the latest set of business surveys will provide a timely update on the health of the global economy. Dollar tries to capitalize [..]

Technical Analysis – GBPUSD loses 2% and meets 200-day SMA

Posted on February 17, 2023 at 10:35 am GMT

GBPUSD has plunged more than 2% since Wednesday and is penetrating another uptrend line. Currently, the market is pausing its move near the 200-day simple moving average (SMA) but is still holding within the medium-term consolidation area of 1.1840-1.2450. The RSI is falling beneath the 50 level and the MACD is strengthening its negative momentum below its trigger and zero lines. If prices continue to head lower, support should come from the lower boundary of the range at 1.1840 before [..]

Daily Market Comment – Dollar stays strong, pound plummets as UK inflation eases

Posted on February 16, 2023 at 9:09 am GMT

US retail sales rebound strongly, adding to soft landing hopes Dollar climbs higher as investors maintain Fed hike bets Pound falls as slowing inflation alleviates pressure on BoE Equities gain, but gold extends decline US retail sales rise most in two years, dollar extends gains The US dollar continued to march north on Wednesday, outperforming all the other major currencies, although it pulled back somewhat today. What added extra fuel to the dollar’s engines may have been the hotter-than-expected US [..]

What does the current yield curve inversion tell us about future asset performance? – Special Report

Posted on February 15, 2023 at 2:52 pm GMT

Economists and market participants enjoy identifying indicators that, according to their analysis, reveal the future economic performance. Among the plethora of such indicators, the inverted 2-year/10-year (2s10s) US yield curve holds a special place in their hearts as it has predicted the most recent recessions. At the moment, the 2s10s US curve trades at an extremely inverted level that has been seen only twice in the past 40 years. What were the economic conditions that led up to this inversion [..]

Daily Market Comment – Mood improves ahead of US inflation data; stocks perk up, dollar slips

Posted on February 14, 2023 at 10:18 am GMT

Stocks rebound as bond yields fall back, but US inflation report poses a risk Yen firmer after Ueda confirmed as nominee for BoJ governor Pound inches higher on UK jobs data, gold finds support ahead of US CPI Equity markets fearless ahead of CPI test It’s all about the US inflation report today as the January figures (due at 13:30 GMT) will either endorse the view that disinflation is taking hold or point to a long battle ahead to contain [..]

Technical Analysis – GBPUSD shows some positive signs but outlook remains neutral

Posted on February 14, 2023 at 7:40 am GMT

GBPUSD rebounded off the 200-day simple moving average (SMA), which overlaps with the 23.6% Fibonacci retracement level of the up leg from 1.0325 to 1.2450 at 1.2050 and also found support on a potential uptrend line. However, the market is still developing within a medium-term trading range with an upper boundary the 1.2450 resistance level and a lower boundary the 1.1845 support. Technically, the MACD oscillator is moving sideways beneath its trigger and zero lines, while the RSI is flattening below the neutral threshold of 50. [..]

Daily Market Comment – Stocks pinned down by CPI angst, yen skids as BoJ boost fades

Posted on February 13, 2023 at 10:17 am GMT

Stocks, yields and US rate futures fall in line with Fed’s ‘higher for longer’ message Worries about upside surprise in US CPI report weighs on mood, dollar firms Yen reverses gains as contender for BoJ chief dents hawkish expectations Markets on edge ahead of US inflation data Money markets are continuing to price in a higher terminal rate for the Fed on Monday following the robust payrolls and ISM data, as anxiety builds of a possible upside surprise in this [..]

The Bank of England would love some positive news from the inflation front this week – Forex News Preview

Posted on February 13, 2023 at 9:04 am GMT

With the preliminary fourth-quarter GDP print on Friday saving the UK from declaring two consecutive quarters of negative growth, the focus turns to Tuesday’s inflation numbers. The calendar is filled with economic data releases including labour market statistics on Tuesday, but the market seems to care primarily about the CPI prints. Could we finally see the much-awaited dip in inflationary pressures or will the Bank of England remain under pressure to adopt a more aggressive strategy? Sticky inflation, many reasons [..]

Week Ahead – US inflation and BoJ Governor nomination in focus

Posted on February 10, 2023 at 12:30 pm GMT

An action-packed week lies ahead for FX traders. The dollar staged a recovery lately as markets priced in a higher peak for Fed rates, but whether this comeback has scope to continue will depend on the upcoming US inflation report. Over in Japan, the nation will enter a new chapter with the nomination of its next central bank chief, putting the spotlight on the yen. Yen jumps on BoJ bets The moment of truth for the yen is finally here. [..]

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