All Articles Tagged - GBPUSD

US Open Note – Market risk-off vibe portrays subtle volatility

Posted on April 5, 2022 at 1:45 pm GMT

Dollar benefits from rising yields; US ISM Services PMI eyed As things stand, the current driving impulses seem to be having an insignificant effect on markets heading into tomorrow’s FOMC minutes. The markets’ response remains muted also to the growing possibility that new economic sanctions on Russia from the West may be in the pipeline considering the fresh suspected atrocities in Ukraine, as they intend to isolate Moscow and hinder it from meeting its debt payments. Nonetheless, a subdued picture [..]

Technical Analysis – GBPUSD challenges the 20-day SMA above 1.3100; outlook still bearish

Posted on April 5, 2022 at 6:34 am GMT

GBPUSD is developing near the 20-day simple moving average (SMA) and below the significant barrier of the 23.6% Fibonacci retracement level of the down leg from 1.3750 to 1.3000 at 1.3175. Over the last month, the price has been neutral as it failed to post a lower low or a jump above the previous high near 1.3300. The momentum indicators in the daily chart though are currently suggesting that positive momentum is likely to strengthen in the short-term. Specifically, the [..]

US Open Note – US stock futures lose upside momentum as market sentiment thins

Posted on April 4, 2022 at 1:47 pm GMT

Higher yields aid dollar, while euro remains heavy even as CPI spike jolts ECB A risk-off vibe seems to have overshadowed US stock futures as positive sentiment is lacking at the start of this week. The S&P 500 has managed to hold above its 200-day simple moving average (SMA) around 4,550, while the Dow Jones 30 and Nasdaq 100 composites have stabilized after a pullback below their respective longer-term 200-day SMAs at 35,057 and 15,167. Higher US yields are underpinning [..]

Daily Market Comment – Stocks stay sluggish, oil slips further, dollar creeps higher ahead of NFP

Posted on April 1, 2022 at 9:37 am GMT

Stocks make mixed start to Q2 after worst quarter in two years as Ukraine woes linger Dollar main beneficiary of increased risk-off as yen sinks again, US jobs report in focus Oil prices hit two-week low after Biden’s supply boost Markets downbeat as peace hopes ebb After a promising start to the week amid the optimism that a ceasefire agreement between Russia and Ukraine is within reach, the market mood has soured somewhat as the two sides seem no closer [..]

Technical Analysis – GBPUSD rangebound but downside risks linger

Posted on April 1, 2022 at 7:49 am GMT

GBPUSD has been experiencing a decline in the past 10 days, after its upside trajectory paused at the 1.3300 region. Although the pair managed to halt its downtrend and is currently experiencing a consolidation phase, its technical picture seems to be deteriorating. The momentum indicators suggest that bearish forces continue to hold the upper hand. Specifically, the stochastic oscillator is sloping downwards after posting a bearish crossover, while the RSI is hovering below its 50-neutral threshold. Moreover, the price is currently [..]

Daily Market Comment – Stocks subdued as Russia dampens peace hopes, oil tumbles on US move

Posted on March 31, 2022 at 9:36 am GMT

Cautious tone as Russia plays down talks progress, maintains offensive in eastern Ukraine Stocks mixed, dollar firmer despite Treasury yields drifting lower Oil plunges again after Biden administration says it may release more strategic reserves Markets cling onto peace hopes as doubts emerge The risk rally spurred on by optimism of a Russia-Ukraine ceasefire is looking a little shaky after both Washington and Moscow played down the significance of the apparent progress in the latest round of negotiations. Russian forces [..]

Daily Market Comment – Signs of progress in Russia-Ukraine talks lift stocks, dollar skids

Posted on March 30, 2022 at 9:32 am GMT

First significant progress in Russia-Ukraine talks boosts sentiment Stocks leap but rally runs out of steam quickly as recession risks loom Euro jumps, dollar takes a tumble but yen selloff steadies amid doubts about BoJ policy Hopes of Ukraine ceasefire rise after latest talks Russian and Ukrainian negotiators meeting in Turkey made the first meaningful progress to ending the month-long conflict on Tuesday, lifting the mood across financial markets. Ukraine proposed a new security guarantee mechanism in exchange for adopting [..]

Daily Market Comment – Stocks perk up on peace talks, oil slump; pound knocked by dovish Bailey

Posted on March 29, 2022 at 9:29 am GMT

Equities look to be making a comeback as Russia-Ukraine talks eyed and oil surge eases Dollar softer despite elevated yields, pound steadier after skidding on Bailey’s remarks BoJ keeps buying JGBs but yen selloff takes a breather as officials get edgy about weakness Stocks head higher as sentiment improves Equity markets were in a bullish mood on Tuesday after the S&P 500 notched up its third straight session of gains yesterday, recouping more than 60% of its year-to-date losses. Heavyweights [..]

Technical Analysis – GBPUSD fails to pilot past 1.33; bearish bias strengthens

Posted on March 29, 2022 at 7:59 am GMT

GBPUSD’s negative bearing has been rekindled after the 1.3270-1.3300 resistance band curbed advances, which began from the recorded 16-month low of 1.3000. The falling simple moving averages (SMAs) suggest that the intensity of the downward trend is intact. Currently, the Ichimoku lines signal prevailing bearish forces despite the rising red Tenkan-sen line. The short-term oscillators are conveying mixed messages in directional momentum. The MACD, in the negative zone, is above its red trigger line but has started to turn lower [..]

US Open Note – Yen dives sharply as BoJ buys unlimited bonds; oil back below 110

Posted on March 28, 2022 at 12:53 pm GMT

Dollar/yen rises to a fresh 6-year high The Bank of Japan reaffirmed its support for its Yield Curve Control aim; a statement of its dovishness. A record was set by offering limitless 10-year JGB purchases for three consecutive days at the YCC trading band’s upper limit of 0.25%. As of February 14, this was the BOJ’s first action since 2018, which marked the beginning of such purchases. According to the BoJ, the three-day operation was aimed to bolster YCC, and the timetable and amounts might [..]

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