All Articles Tagged - GBPUSD

Daily Market Comment – Stocks buoyant ahead of US CPI, dollar holds steady

Posted on February 10, 2022 at 9:50 am GMT

Wall Street extends climb out of January pit, but futures ease as CPI data awaited Dollar edges sideways as traders seek direction from US price growth Gold hits two-week high amid uncertainty about inflation and Fed policy Stocks turn cautious before US inflation release The improved risk tone is holding ahead of the all-important inflation numbers out of the United States later on Thursday. Stocks on Wall Street jumped higher for a second day on Wednesday, erasing the losses from [..]

US Open Note – US CPI data still key as today’s 10-year yield drop aids wall street

Posted on February 9, 2022 at 2:22 pm GMT

Market jitters keep volatility faint and dollar remains glued on back foot The US 10-year yield deflated to 1.927% today keeping the reserve currency on offer, with the dollar index near the lower end of its recent range at 95.40, which provided US stock futures with freshly welcomed buoyancy for a test of the latest peaks following their deep corrections from all-time highs. Nonetheless, market sentiment is still looking fragile awaiting additional volatility from the upcoming US inflation event. [..]

Why UK’s Q4 GDP growth data may not help the pound – Forex News Preview

Posted on February 9, 2022 at 11:48 am GMT

The UK will publish its final quarterly GDP growth readings for 2021 on Friday at 09:30 GMT. The outcome may not impress investors as forecasts imply the economy almost flatlined at the end of the year, growing more or less at the same pace as in the previous quarter. Perhaps, the data could be considered outdated as well since the Bank of England has already taken its first steps to tackle the hot inflation pressures. Therefore, the British pound may [..]

Daily Market Comment – US stocks bounce back as bond selloff eases, oil slips again

Posted on February 9, 2022 at 10:10 am GMT

Markets lifted by Wall Street rebound as bond yields pull back slightly Dollar loses ground as traders await direction from US CPI data Oil prices dip again as progress seen in Iran nuclear talks Stocks try to shrug off bond market rout The selloff in sovereign bonds paused for breath on Wednesday, pulling their yields slightly lower after the sharp spike that followed last week’s hawkish shift by the European Central Bank. But the rally in 10-year yields is unlikely [..]

US Open Note – Yields elevated but dollar struggles to hold onto minor gains

Posted on February 8, 2022 at 1:36 pm GMT

US stock futures shaky and hawkish Lagarde backtracks Market nerves are heightened at the start of this week as long echoed factors like supply disruptions, hot employment and wage growth, are clearly revealing strong developments in price pressures, which has had global central bank action shift up a gear in one way or another. The market feeling is that central banks have been nudged on to the wagon of vigilance, ready to pounce on inflation if it starts to seriously [..]

Technical Analysis – GBPUSD sends bearish vibes below 20-SMA

Posted on February 8, 2022 at 8:45 am GMT

GBPUSD saw its bullish efforts evaporate near its 20-day simple moving average (SMA) on Monday, with the pair finishing the day muted and beneath last week’s peak of 1.3627 once again. The above suggests the bears are still in charge and a downside correction below the nearby support of 1.3520 and towards the tentative ascending trendline and the 50-day SMA both at 1.3436 is still very likely. The negative slope in the RSI and the MACD, which are currently near their [..]

US Open Note – Market sentiment muted and dollar holds firm

Posted on February 7, 2022 at 2:19 pm GMT

Markets prepare for ECB’s Lagarde as calmer tone overshadows prior rollercoaster week Moving past the previous heavy week of data and central bank meetings, the current week looks to be much quieter. The market mood is suggesting that the right boxes are getting ticked for the Fed to move ahead with tightening and a rate hike in March, especially after the huge win in the US labour market, where the US jobs report improved by 467k, more than triple the [..]

Daily Market Comment – Markets steadier after NFP shock, but on alert for US CPI data

Posted on February 7, 2022 at 10:31 am GMT

Dollar’s NFP-led rebound eases but US inflation still to come ECB rate talk intensifies as euro eyes Lagarde testimony Stocks mixed as Amazon boost capped by soaring bond yields Dollar and yields settle down after NFP excitement Markets got off to a relatively calm start on Monday following a tumultuous end to last week on the back of the shockingly strong jobs report out of the United States. Nonfarm payrolls jumped by 467k in January, confounding both the most pessimistic [..]

US Open Note – Euro remains afloat above 1.14 after impressive NFP data; oil fires up

Posted on February 4, 2022 at 3:01 pm GMT

Euro survives NFP surprise The euro had been dancing to the ECB’s hawkish beats on Friday until the US nonfarm payroll report came to put the brakes on its dynamic rally, but the common currency managed to remain afloat. Following a bitter contraction in ADP private employment figures, analysts believed that their forecasts for a 150k growth were too optimistic for the month of January. Yet, the government’s first monthly comprehensive employment stats of 2022 revealed that the US economy is [..]

Technical Analysis – GBPUSD finds a foothold on cloud’s upper surface

Posted on February 4, 2022 at 2:45 pm GMT

GBPUSD buyers have emerged around the Ichimoku cloud’s upper band and in the vicinity of the 200-period simple moving average (SMA) following the fresh nosedive in the pair from 1.3612. No clear trend is being promoted by the converging SMAs but the rising 50-period SMA at 1.3487, along with the blue Kijun-sen line, is defending the climb from the one-month low of 1.3356. The downward pointing red Tenkan-sen line is reflecting the rise in selling pressures. However, the short-term oscillators [..]

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