All Articles Tagged - GBPUSD

US Open Note – Upbeat data drive risk-on mode ahead of Powell’s speech; Euro gears up on rate hike outlook

Posted on May 17, 2022 at 1:27 pm GMT

Pound is the best performer, but for how long? Markets were volatile ahead of the US open, with the European currencies switching to recovery mode after a period of heavy selling, and the US dollar index losing some steam as some rosy data releases shifted funds to riskier assets and hopes for China easing lockdown measures flourished. Upbeat employment and wage data out of the UK triggered the largest daily increase in the British pound in months. Strikingly, the number [..]

Daily Market Comment – Stocks turn more cheery, dollar looks to Powell, US data for direction

Posted on May 17, 2022 at 9:14 am GMT

Hong Kong shares rally, lift Asia and Europe, as China gloom fades But Wall Street and dollar set sights on US retail sales and Powell’s inflation speech Pound gets surprise jobs boost, shrugs off Bailey’s apocalyptic warnings Easing crackdown worries lift China tech shares Stocks in Asia were bolstered on Tuesday on signs that Chinese policymakers are having a rethink about how they regulate the digital economy as a government advisory body held consultations with local tech executives. Chinese tech [..]

Technical Analysis – GBPUSD gains momentum near 1.2400 in very short-term

Posted on May 17, 2022 at 7:30 am GMT

GBPUSD is gaining ground after the sell-off towards the two-year low of 1.2120 and is moving towards the inside swing low from April 28 at 1.2410. The technical indicators are mirroring the current bullish bias in the very short-term, as the MACD is jumping above its trigger line in the negative region, while the RSI is pointing up from the oversold territory. A decisive close above the immediate resistance could reduce negative risks, producing a bullish extension towards the 20-day [..]

Sterling’s focus switches to a crowded schedule, as selling pressures intensify – Forex News Preview

Posted on May 16, 2022 at 2:13 pm GMT

It will be a packed week for the British pound. The UK employment report will be published on Tuesday at 06:00 GMT, while on Wednesday and Friday investors will pay attention to CPI inflation (06:00 GMT) and monthly retail sales (06:00 GMT) respectively to get more evidence on the economy. The Bank of England (BoE) is becoming increasingly conservative, and if the releases can buck this trend, the pound could appreciate, but only modestly. UK CPI inflation to print new highs Despite [..]

US Open Note – Dollar cools off, euro turns up and gold back to $1,800

Posted on May 16, 2022 at 12:53 pm GMT

Chinese data drives dollar higher In the wake of disappointing Chinese economic statistics, which sent the British pound and the Australian dollar down, the US dollar held onto its two-decade high earlier in the day. The surge in the dollar has been fuelled by China’s long-term economic lockdowns, which have contributed together with other uncertainties to an almost 10% rise in the dollar index since the beginning of 2022. In April, China’s retail and industrial activity declined substantially due to widespread Covid-19 lockdowns, which kept workers [..]

Daily Market Comment – China worries hit sentiment, equities wobble, dollar firms

Posted on May 16, 2022 at 9:30 am GMT

Markets get off to a shaky start after poor Chinese data as stocks slip But lockdown easing in Shanghai provides some relief Dollar mostly higher, euro edges up as hawkish noises from ECB continue Recession fears heightened after slump in China activity Fresh jitters about recessionary risks dented sentiment on Monday, weighing on stocks, oil and risky currencies, following some disappointing data out of China that greeted investors at the start of the week’s trading. Industrial production in the world’s [..]

Week Ahead – Data avalanche to keep spotlight on rate hike expectations

Posted on May 13, 2022 at 1:32 pm GMT

It’s going to be a full-on week for economic indicators with a barrage of data due that should keep the guessing game going on how much central banks will tighten this year. Australia and the UK report jobs numbers, the latter will also release CPI readings along with Canada and Japan. Retail sales will be watched in the UK and US, as well as in China, while the Q1 GDP estimate will be important in Japan. China slowdown fears will [..]

US Open Note – Fed Chair Powell alleviates doom and gloom in stock futures

Posted on May 13, 2022 at 1:27 pm GMT

Dollar steady while Treasury yields rise, risk appetite cautiously improves The Chief of the Federal Reserve Jerome Powell has managed to calm market concerns around rate hikes, reiterating that the Fed is prepared to act accordingly, depending on whether the economy performs as expected. Nonetheless, the worrying rhetoric linked to tightening monetary policy in these times we live in, continues to fan the flames of negative sentiment. Treasury yields rose with the 10-year yielding 2.91%, the 5-year 2.86% and the [..]

Daily Market Comment – Panic eases, dollar cools, but sentiment remains fragile

Posted on May 13, 2022 at 9:34 am GMT

The week-long selloff gripping risky assets pauses, for now Yields also steady, dollar comes off highs after Powell provides some reassurances Cryptos bounce back as stablecoins reeling after crash A calmer end to a torrid week Markets were looking a lot steadier on Friday as the global rout in equities began to subside and demand for safe havens waned slightly. Stocks have been on the backfoot since the end of March. But the selloff accelerated last week after the Fed [..]

Technical Analysis – GBPUSD rebounds off 2-year low; indicators show positive signs

Posted on May 13, 2022 at 8:18 am GMT

GBPUSD found support at the two-year low of 1.2165 in the preceding sessions and is now flirting with the 1.2200 round number. The RSI indicator is rising after the bounce off the oversold territory, while the MACD is extending its move above its trigger line in the negative region. The 20-period simple moving average (SMA) is acting as strong resistance for the bulls around the 1.2260 barrier ahead of the 40-period SMA at 1.2325. Even higher, the door would open [..]

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