All Articles Tagged - GBPUSD

Weekly Technical Outlook – USDJPY, GBPUSD, NZDUSD

Posted on July 8, 2024 at 1:38 pm GMT

USDJPY faces minor injuries after higher US jobless rate; Powell’s testimony next on the agenda GBPUSD surprasses key obstacle as UK gets new government; monthly GDP data on the agenda NZDUSD waits for RBNZ rate decision; bullish outlook above 0.6188-0.6200 Fed chairman to testify on economy –> USDJPY US employment increased at a surprisingly solid pace of 206k on Friday, beating analysts’ forecasts of 190k jobs, but a faster-than-expected rise in the unemployment rate made investors more certain that a rate cut could take place as soon [..]

Week Ahead – Round two of French elections, Powell testimony and US CPI

Posted on July 5, 2024 at 9:44 am GMT

French parties race to block Le Pen’s RN Powell testifies before Senate Banking Committee US CPI data to shake Fed rate cut bets RBNZ to leave OCR untouched, focus on language Euro traders keep gaze locked on French election Traders will be sitting on the edge of their seats on Sunday, in anticipation of Monday’s open and what market impact the second round of the French election will have. The far-right National Rally (RN) led the first round last [..]

Market Comment – Spotlight on NFP as dollar sinks; pound unmoved by Labour landslide

Posted on July 5, 2024 at 9:17 am GMT

Dollar slips further ahead of crucial US jobs report Pound marginally higher as Labour crush the Tories in UK election Equities set to end week on a high note, Bitcoin keeps slumping Stakes are high as markets brace for soft NFP After a bit of a wobble last week, stock markets around the world are back in bullish mode following the weak ISM surveys for both manufacturing and services that bolstered expectations that the Federal Reserve will start cutting rates [..]

Midweek Technical Look – Gold, GBPUSD, EURUSD

Posted on July 4, 2024 at 1:18 pm GMT

Gold cheers on weaker business data, but a break above 2,368 is still needed GBPUSD retains positive momentum as the UK election kicks off; eyes on 1.2770 EURUSD resumes recovery mode; aims for a close above 200-SMA [..]

Market Comment – Dollar skids on ISM services dip, pound steady as UK votes

Posted on July 4, 2024 at 8:59 am GMT

ISM services PMI points to unexpected contraction in June Treasury yields and dollar take a dive, but Wall Street rallies Pound in bullish mode as UK goes to the polls amid broader risk appetite September rate cut seen more likely Expectations of a September rate cut got another boost on Wednesday after the ISM services PMI fell into contractionary territory, adding to the growing signs of a slowing US economy. The closely watched PMI indicator for the non-manufacturing sector fell [..]

Could the post-UK elections market moves resemble 1997 and 2010? – Special Report

Posted on July 3, 2024 at 8:44 am GMT

Thursday’s UK elections expected to bring political change Similar developments in both 1997 and 2010 weighed on the pound History points to a significant easing in pound volatility across the board Recent FTSE 100 performance matches the 2015 pre-election moves General election in sight The UK general election will be held this Thursday, July 4, the day that the US will be celebrating its 248th anniversary from the adoption of the Declaration of Independence. The Labour party is expected to comfortably [..]

Yen volatility remains high as equities appear calmer – Volatility Watch

Posted on July 2, 2024 at 6:50 am GMT

Euro/dollar volatility jumps after French elections Volatility in commodities eases, apart from oil Stock indices’ volatility falls ahead of key data releases Euro/dollar volatility has eased over the past week as the market is breathing slightly easier following Sunday’s French elections result. On the flip side, volatility in yen crosses remains extremely high as market participants continue to provoke the BoJ by pushing dollar/yen above the level that led to the end-April intervention. In the meantime, volatility in both gold and silver has eased considerably despite the [..]

Technical Analysis – GBPUSD remains bearish in very short-term

Posted on July 2, 2024 at 6:44 am GMT

GBPUSD’s recent bounce off 1.2300 runs out of steam RSI and MACD hold beneath mid-levels GBPUSD started a bearish wave again after the spike towards the three-month high of 1.2860, sending prices beneath the 20- and 50-day simple moving averages (SMAs). The market is ready to retest the midpoint of the long-term trading range at 1.2610. Short-term momentum indicators are also pointing to a continuation of the bearish bias. The RSI is still developing beneath its downtrend line and the neutral [..]

Week Ahead – French and UK elections on the horizon, US jobs report eyed too

Posted on June 28, 2024 at 10:32 am GMT

France and UK go to the polls; will elections bring chaos or order? US payrolls report for June awaited as Fed hawks don’t budge Eurozone CPI, Fed minutes and ECB forum also on investors’ radar Macron’s gamble set to backfire Political risks came back to haunt the euro in June as the resurgence in popularity for far-right parties sparked jitters in financial markets. France has been at the centre of this resurgence where Marine Le Pen’s National Rally party is [..]

Technical Analysis – GBPUSD fails to extend losses in near term

Posted on June 27, 2024 at 12:45 pm GMT

GBPUSD flirts with 1.2630 Price remains beneath uptrend line Stochastics suggest more losses GBPUSD is ready to record losses for the fourth week in a row, dropping near the 1.2630 support level, where the 20-week simple moving average (SMA) also lies. The RSI in the daily chart continues to move in the bearish area, while the stochastic oscillator is posting a bearish crossover within its %K and %D lines slightly above the 20 level. However, should the price close comfortably above the 1.2630 level, traders could add more value [..]

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