All Articles Tagged - GBPUSD

Daily Market Comment – Equities remain pressured as traders weigh Fed and geopolitical risks

Posted on January 24, 2022 at 10:21 am GMT

Stock market rout deepens amid Fed and Ukraine worries, but US futures point to rebound Dollar and gold edge up, euro see-saws on mixed PMIs Fed meeting and major earnings to likely dictate market sentiment Markets still jittery but selloff eases Wall Street just had its most bruising week since the onset of the pandemic in March 2020 and it could get even rockier for stocks in the coming days. The Federal Reserve is poised to give a formal nod [..]

US Open Note – Stocks extend declines, dollar maintains resilience

Posted on January 21, 2022 at 1:19 pm GMT

Market sentiment deteriorates as yields remain elevated Wall Street’s correction continues to develop lower, with the tech-heavy Nasdaq 100 affected more, falling 4.6% yesterday. Despite this week’s disappointing US jobless claims, which rose 286k versus an expected 220k, potentially due to surging cases of Omicron, and the correction in the US equities – in an environment of elevated yields – the market story is likely to remain the same with the Fed moving forward with removing accommodation and delivering expected [..]

Week Ahead – Fed, BoC to sing from same hawkish hymn sheet; data flurry on the way

Posted on January 21, 2022 at 12:49 pm GMT

A jam-packed week for central banks and economic releases is coming up as the inflation story continues to grip the markets. With the price data pointing up and bond yields fired up, investors are expecting nothing but hawkish talk from the Federal Reserve and the Bank of Canada. The latter could even go one step further and put words into action. In Europe, though, all eyes will be on the flash PMI readings where Omicron likely weighed on economic activity [..]

Technical Analysis – GBPUSD hits the lower Bollinger Band; bearish forces linger

Posted on January 21, 2022 at 8:49 am GMT

GBPUSD has retreated from its January high, crossing below its 50-period simple moving average (SMA) amid increasing negative forces. However, despite the cautiously bearish outlook, the pair is trading near its lower Bollinger Band indicating that an immediate upside should not be ruled out. Short-term momentum indicators are supporting a negative bias as the RSI is found well below its 50 neutral mark. Also, the MACD is found below zero and its red signal line, which might indicate that negative [..]

US Open Note – Market sentiment freezes, dollar largely unchanged

Posted on January 20, 2022 at 2:33 pm GMT

Markets digest US jobless claims and Philly manufacturing The US stock futures correction deepened as risk sentiment has remained negative, while the 10-year yield at 1.88% seems to be keeping the dollar buoyant. It appears the hawkish tone from the Fed has saturated markets and they have become less sensitive lately. The US economy is nearing full employment and today’s rise in jobless claims has managed to only nudge the dollar index slightly lower, stabilizing around the 95.40 level. The [..]

Inflation is driving up rate hike bets globally, so why does the dollar remain king? – Special Report

Posted on January 20, 2022 at 10:50 am GMT

It is now universally accepted that the pandemic-induced surge in inflation is no longer looking very transitory and central banks around the world are starting to hit the panic button. The US Federal Reserve is not only talking about rate hikes but wants to begin quantitative tightening soon. The Bank of England and Reserve Bank of New Zealand have already lifted rates at least once. Even the ultra-dovish European Central Bank is keeping its options open in terms of possibly [..]

US Open Note – Stocks fail to recover, dollar remains resilient

Posted on January 19, 2022 at 1:24 pm GMT

Elevated yields favour dollar, Canadian inflation in spotlight The primary market focus remains centred around the Fed and how it will tackle inflation, with market participants juggling the premise of how many rate hikes will unfold this year. Expectations almost ‘guarantee’ three hikes but the dollar’s recent gains have been fuelled by rising Treasury yields, which have supported the dollar index around the 95.60 mark. US stock futures are somewhat finding their feet after the correction, while the 10-year Treasury [..]

Technical Analysis – GBPUSD turns south after reaching 200-day SMA

Posted on January 18, 2022 at 8:39 am GMT

GBPUSD is reversing following the advance to the 1.3745 level, which represents a nearly three-month high. Although the price declined following the touch of the 200-day simple moving average (SMA), it remains above the long-term declining channel. The MACD oscillator is still holding above its trigger line in the positive region with weak momentum, while the RSI is flattening above the neutral threshold of 50. If the pair continues to fall, immediate support might be found near the 38.2% Fibonacci [..]

UK inflation and retail sales could hold key to BoE rate hike – Forex News Preview

Posted on January 17, 2022 at 4:56 pm GMT

Rate hike speculation for the Bank of England has gone into overdrive again and the triad of UK data releases this week are bound to heat things up even further. The employment report is out first on Tuesday, followed by the latest inflation figures on Wednesday, with retail sales wrapping up the week on Friday. All are due at 07:00 GMT. The pound is currently taking a breather from its four-week rally but there could be more gains in store [..]

Technical Analysis – GBPUSD eases after meeting 200-day SMA and almost 3-month high

Posted on January 17, 2022 at 2:24 pm GMT

GBPUSD is heading south after the rally towards the 1.3745 level, which is an almost three-month peak. The price retreated after the touch on the 200-day simple moving average (SMA) but it is still trading above the long-term descending channel. The MACD oscillator is holding above its trigger line in the positive region, while the RSI is looking overbought and is sloping down in the bullish area. In case the pair slides further, immediate support could occur around the 38.2% [..]

GBPUSD

XM Live Chat