All Articles Tagged - GBPUSD

Daily Market Comment – Dollar shoots higher, euro sinks as recession fears return, stocks reverse gains

Posted on July 5, 2022 at 9:46 am GMT

Dollar surges to fresh two-decade high as euro crumbles on recession jitters Aussie plunges too after RBA rate decision, stock rebound falters But some optimism as Biden mulls easing Chinese import duties, Asian PMIs jump Risk appetite falters as spike in natural gas prices dents optimism Recession worries took a bit of a backseat at the start of July as the selloff paused for breath, but the panic crept back in on Tuesday as a fresh surge in natural gas [..]

Technical Analysis – GBPUSD adopts neutral status above 2-year low

Posted on July 5, 2022 at 7:33 am GMT

GBPUSD formed a tiny neutral candlestick on Monday above Friday’s closing price of 1.2087 and below the nearby 1.2170 resistance territory. The refusal to return to the two-year low of 1.1932 could be a rosy sign that buyers are absorbing selling pressures in the market as the price is currently trying to set a foothold around the 1.2100 level. Yet, the RSI is still preserving a negative trajectory well below its 50 neutral mark, and the MACD has recently ticked back [..]

Daily Market Comment – Dollar softer after spike as Fed rate hike bets recede further

Posted on July 4, 2022 at 9:04 am GMT

Markets steadier despite recession signs as Fed tightening bets scaled back Dollar edges down while lower yields shore up Wall Street Aussie leads the gainers ahead of expected RBA rate hike A fragile calm amid recession red flags Trading got off to a relatively calmer start on Monday, with the US dollar backing away from more than two-week highs and global equities moving higher on the back of Wall Street’s gains on Friday. European government debt was under slight pressure [..]

Technical Analysis – GBPUSD revives bearish momentum; 2022 bottom in focus

Posted on July 1, 2022 at 12:50 pm GMT

GBPUSD bears are tuning in again, pressing the price towards the two-year low of 1.1932 following the rejection near the support-turned-resistance area of 1.2150. From a technical perspective, sellers may keep driving the market as the RSI is resuming its negative slope below its 50 neutral mark, and the MACD is pushing beneath its red signal line again. Should the base at 1.1988 – 1.1932 collapse this time, the pair may chart a new lower low around 1.1765 taken from [..]

Technical Analysis – GBPUSD in wait-and-see mode within downtrend

Posted on June 28, 2022 at 9:10 am GMT

GBPUSD has been tip toeing sideways over the past week within the range of 1.2150 – 1.2356, unable to extend its recovery off two-year lows. The momentum indicators are reflecting a neutral bias as the latest rebound in the RSI has stalled marginally below its 50 neutral mark, while the MACD continues to grow gradually within the negative region and barely above its red signal line. As regards the market trend though, the picture remains bearish given the lower lows and lower highs [..]

Technical Analysis – GBPUSD heads sideways below descending trend line

Posted on June 24, 2022 at 11:37 am GMT

GBPUSD appears to be maintaining a horizontal trajectory trapped between the short-term simple moving average (SMA) and the 1.2160 support. A paused state of strong directional momentum is reflected in the technical indicators. The MACD has barely inched above its red trigger line in the negative region, while the RSI improves below the 50 level. To the upside, emanating pressure over the last couple of weeks has denied upside moves. If buyers manage to jump above the SMAs, which are overlapping [..]

Daily Market Comment – Dollar stalls, stocks given a lifeline as rate hike bets scaled back

Posted on June 24, 2022 at 9:21 am GMT

European and US PMI data underscore recession risks, dampen price outlook Falling commodity prices add to reduced inflation expectations Investors go back to the drawing board for central bank rate hike paths Stocks rejoice as yields slip too, but dollar consolidates Recession risks loom large Speculation that the major economies in Europe and America are on the verge of tipping into a recession continues to intensify as the flash PMI reports for June have provided fresh evidence that growth is [..]

Daily Market Comment – Powell does little to ease recession concerns but selloff eases

Posted on June 23, 2022 at 9:14 am GMT

Powell talks inflation and recession but Wall Street holds its nerve Flash PMIs underscore recession risks, euro and pound slip Oil extends losses as outlook weighs, investors question supply tightness Powell sticks to the script, mentions the ‘R’ word Fed Chair Jerome Powell largely stuck to familiar language in his semi-annual testimony before the Senate Banking Committee on Wednesday, repeating his message that the Fed is “strongly committed” to bringing inflation down. Most market participants expect the Fed to hike [..]

Daily Market Comment – Wall Street bounces back but recession fears return to haunt markets

Posted on June 22, 2022 at 8:58 am GMT

US stocks join global stock rebound but rally fizzles out already Recession fears intensify again ahead of Powell testimony Oil sinks as White House gets serious about lowering gasoline prices Dollar firmer, euro and pound find some support as aussie and kiwi sink Risk appetite fades amid renewed growth jitters Worries about soaring inflation and stalling growth were weighing on the market mood again on Wednesday as an increasing number of investors, including high-profile names such as Elon Musk, upped [..]

Daily Market Comment – Stocks extend gains, dollar retreats as recession angst tempered

Posted on June 21, 2022 at 8:29 am GMT

Market panic continues to ease, stocks claw higher, but mood is subdued Euro and pound nudge up on ECB and BoE comments, RBA caps aussie gains Powell testimony and data awaited for more direction Equities stage a cautious rebound The market turmoil sparked by last week’s round of central bank rate hikes receded further on Tuesday, as worries about a recession were put on hold while investors weighed the risks ahead of some key data and a congressional testimony by [..]

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