All Articles Tagged - GBPUSD

Daily Market Comment – Omicron woes drag on sentiment, dollar extends gains

Posted on December 14, 2021 at 9:52 am GMT

Wall Street joins global rout as Omicron fears resurface but selloff eases today Dollar edges up to one-week highs as Omicron clouds outlook for central banks UK jobs numbers kick off busy week, US data eyed ahead of Fed Optimism fades amid fresh Omicron gloom Equity markets were feeling the pressure from renewed concerns about the global growth outlook as China imposed draconian restrictions after the detection of the country’s first Omicron case, while the UK’s announcement of its first [..]

Technical Analysis – GBPUSD poised for a bullish reversal as sideways move lengthens

Posted on December 14, 2021 at 8:13 am GMT

GBPUSD keeps trading indecisively at the bottom of the six-month-old bearish channel and close to its new 2021 low of 1.3160 for almost a week now. The risk for an upside correction is elevated given the RSI’s prolonged presence around its 30 oversold level and the positive trajectory in the Stochastics, while the gradual recovery in the MACD is another encouraging signal that buying interest is growing. The fact that the 38.2% Fibonacci retracement of the long-term uptrend from 1.1409 to 1.4248 is adding [..]

Bank of England might leave rate hike for another day – Forex News Preview

Posted on December 13, 2021 at 4:22 pm GMT

The Bank of England stated last month that some modest monetary tightening will be necessary over the foreseeable future, but policymakers will find it hard to put their thoughts into action when they meet on Thursday. That said, inflation is something that cannot be ignored these days; therefore, some hawkish twists could still cheer the pound bulls, especially if CPI and jobs data embrace the aggressive rate hike pricing in markets. Stay in the comfort zone Central banks are between a [..]

US Open Note – Quiet day ahead of raft of central bank meetings

Posted on December 13, 2021 at 2:02 pm GMT

It’s a relatively quiet start to the week before the expected onslaught of central bank meetings that will take place this week. On Monday, US futures gained along with European stocks as traders braced for a week of central bank decisions amid fears about inflation and the omicron virus. Fed, ECB and BoE meetings in the spotlight this week The Federal Reserve is anticipated to accelerate its stimulus withdrawal on Wednesday and could pave the way for quicker interest rate hikes in 2022 if price pressures remain around a [..]

Technical Analysis – GBPUSD continues its downtrend as bearish forces linger

Posted on December 13, 2021 at 8:50 am GMT

GBPUSD is continuing its descending trend, recording successive lower highs and lower lows in the four-hour chart. Moreover, the price is trading below the 50- and 200-period simple moving averages (SMAs), reinforcing the bearish outlook for the pair. Short-term momentum indicators are reflecting a mixed picture, as the RSI is located below its 50 neutral mark, while the MACD is found above its red signal line and is looking ready to cross above zero, which would be an encouraging sign [..]

US Open Note – Dollar in quiet trading after US CPI; equities secure positive close

Posted on December 10, 2021 at 2:31 pm GMT

US inflation the highest in four decades The eagerly awaited US consumer price index came in as expected on Friday ahead of a busy week with focus on several central bank events. Prices grew the fastest in four decades in November at 6.8% y/y on the back of gas and energy increases. The core CPI measure was also in line with forecasts at 4.9% y/y, but still at uncomfortable levels and well above the Fed’s 2.0% symmetric target, suggesting that [..]

Technical Analysis – GBPUSD trickles lower as buyers fail to halt descent

Posted on December 10, 2021 at 1:59 pm GMT

GBPUSD’s latest seven-week plunge has calmed in the vicinity of the 1.3186 barrier, after ticking to a one-year low of 1.3160 on Wednesday. The diving simple moving averages (SMAs) are endorsing the bearish outlook. The bearish Ichimoku lines are indicating that negative forces have toned down a bit, while the short-term oscillators are confirming minor waning in bearish momentum. The MACD some way below the zero line, has nudged marginally above its red trigger line, while the RSI has improved [..]

Week Ahead – Fed kicks off central bank extravaganza

Posted on December 10, 2021 at 12:55 pm GMT

Global markets will enter the holiday season with a bang, as the upcoming week features five central bank decisions and a heavy barrage of data releases. The Fed will get the show rolling. It will decide whether to accelerate the tempo of tapering, although the dollar may be more interested in the new interest rate projections. The central banks of the Eurozone, United Kingdom, Japan, and Switzerland will meet as well. Fed heads for the exit The American economy is [..]

Weekly Comment – Central bank fiesta, flash PMI and inflation reports

Posted on December 10, 2021 at 12:38 pm GMT

Global markets took a breather from the Omicron panic this week as fears about the variant’s impact on global economic growth subsided. The upcoming week is probably the busiest of the year with interest rate decisions from America, the Eurozone, the United Kingdom, Switzerland and the Japanese central bank. Moreover, inflation data from the UK, Eurozone and Canada, together with updates on global economic activity from American, European and British purchasing managers indices will hit the markets. The Highlights: In [..]

Daily Market Comment – Dollar steady ahead of US CPI; stock rally fizzles out

Posted on December 10, 2021 at 9:57 am GMT

US CPI data in focus ahead of Fed decision next week, dollar flat Stocks pare weekly gains as Evergrande default unnerves markets Pound holds near lows after GDP miss, euro reverses back down Spotlight on US inflation After making a strong recovery this week, risk appetite is being tested as the all-important inflation test looms for the markets. The US consumer price index is due at 13:30 GMT and the forecasts are pointing to another big jump in November. If [..]

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