All Articles Tagged - GBPUSD

US Open Note – Dollar turns lower after CPI data; oil climbs by 4%

Posted on April 12, 2022 at 1:15 pm GMT

US CPI surpasses forecast, rising to 8.5% Interest rates in the United States continue to rise. The 10-year yield traded near a fresh cycle high of 2.83% and is on course to hit the October 2018 high of 3.26%. This has sent the dollar index beyond the 100 mark for the first time in over two years but after the CPI data, it returned near its opening level, while dollar/yen is hovering below the six-and-a-half-year high of 125.76 posted yesterday. The [..]

Technical Analysis – GBPUSD builds floor around 1.3000; bias bearish

Posted on April 12, 2022 at 7:27 am GMT

GBPUSD keeps hovering with weak momentum marginally above the 1.3000 level despite its flash slide to a new 16-month low of 1.2981 last Friday. The bearish bias remains intact as the RSI is maintaining a clear negative trajectory and is still some distance above its 30 oversold level. The Stochastics are preparing for another negative intersection, while the MACD is gradually stepping below its red signal line, all painting a blurry short-term picture for the market. The 1.3000 floor, however, could act as a [..]

Technical Analysis – GBPUSD’s bearish momentum softens but downside risks remain

Posted on April 11, 2022 at 2:39 pm GMT

GBPUSD buyers in recent trading sessions have managed to keep the bears at bay, north of the 1.3000 handle. Nonetheless, the 50- and 100-period simple moving averages (SMAs) have realigned with the prevailing longer-term trend, which the falling 200-period SMA is sponsoring. Currently, the Ichimoku lines are indicating a pause in bearish forces, while the short-term oscillators are transmitting mixed signals in directional impetus. The MACD, in the negative region, is marginally underneath the flattened red trigger line, while the [..]

Daily Market Comment – Dollar powers ahead as US yields keep surging; central banks in focus

Posted on April 11, 2022 at 9:38 am GMT

Dollar at 2-year high as Treasuries rout deepens, puts Wall Street on backfoot ahead of earnings Euro edges up after Macron survives round 1 of election, spotlight now on ECB Chinese yuan and stocks slip amid lockdown havoc, oil can’t take the heat either US real yields approach zero, dollar shines, stocks pay the price The Fed’s latest tilt towards the far hawkish end of the dove-hawk scale continued to reverberate across markets on Monday, giving the US dollar another [..]

Pound shifts attention to busy calendar as selling pressures persist – Forex News Preview

Posted on April 8, 2022 at 1:54 pm GMT

The British pound has been having a tough time against the US dollar for more than a week now, making investors wonder when the next bullish round will take place. Next week’s session could set a new tone for the British currency as the calendar will get relatively busier. February’s GDP monthly data will be out on Monday, followed by employment and CPI inflation figures on Tuesday and Wednesday respectively, all due at 07:00 GMT. Expectations are not great, but [..]

Week Ahead – BoC and RBNZ to hike big, ECB to bide its time

Posted on April 8, 2022 at 12:15 pm GMT

It’s going to be a major week for central banks ahead of the long Easter weekend, with three meetings on the way and rate hikes looking almost certain to be the outcome of at least two of them. So the spotlight will fall on the Bank of Canada, Reserve Bank of New Zealand and European Central Bank for much of the week. Although economic data will also be ample – inflation numbers will be watched in China, the United States [..]

Technical Analysis – GBPUSD extends decline amid lingering bearish forces

Posted on April 8, 2022 at 7:47 am GMT

GBPUSD has been sloping downwards in the four-hour chart after peaking at 1.3297 in mid-March, generating a profound structure of lower highs and lower lows. Moreover, the price is currently trading way below the Ichimoku cloud, while the descending 50- and 200-period simple moving averages (SMAs) are endorsing the pair’s broader bearish short-term structure. The momentum indicators suggest that sellers are holding the upper hand. The MACD histogram is currently beneath zero and its red signal line, while the RSI [..]

Technical Analysis – GBPUSD bearish despite toned-down negative pressures

Posted on April 7, 2022 at 2:25 pm GMT

GBPUSD is tiptoeing back towards the 1.3000 handle after mid-March gains were curbed by the 1.3300 barrier. The bearish simple moving averages (SMAs) are promoting the negative picture, while the falling Ichimoku lines are indicating that the downward forces remain active. The short-term oscillators are reflecting that negative price action is taking a breather. The MACD, beneath the zero threshold, is above its flattened red trigger line but looks set to dive back below it, while the negatively charged stochastic [..]

US Open Note – Dollar stands firm; ECB meeting minutes fail to move the euro

Posted on April 7, 2022 at 1:13 pm GMT

Dollar preserves FOMC boost; stocks weaker The US dollar kept its lead against a basket of major currencies on Thursday, trading almost at a one-year high. The world’s reserve currency is now set for a thriving weekly close as the FOMC meeting minutes reaffirmed the Fed’s recent sharp hawkish tone yesterday, revealing that the central bank will hit the stimulus brakes more aggressively in the coming months. In addition to a larger 50 bps rate hike, the central bank openly [..]

US Open Note – King dollar awaits FOMC minutes; stocks in the doldrums

Posted on April 6, 2022 at 12:46 pm GMT

FOMC minutes under the spotlight Inflation jitters are weighing far more heavily on central banks’ thinking now, pressing policymakers to expedite their tightening plans further even if the war in Ukraine threatens to drag the global economy into a recession. The second most important FOMC board member, Lael Brainard, who is considered a dove, dropped her patient tone late on Tuesday, stating that the Fed could begin the balance sheet reduction at a faster pace than previously expected as soon [..]

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