All Articles Tagged - GBPUSD

US Open Note – Stocks give up ground amid covid curbs; pound remains muted near 2021 lows

Posted on December 9, 2021 at 3:02 pm GMT

Equities take a breather European stock indices returned to negative territory as infections remained elevated in the region and governments reintroduced new mild measures to counter the spread of the omicron variant despite drug makers defending the efficacy of their vaccines in the past few days. Energy shares drove losses in the pan-European STOXX 600, but the decline is moderate so far in the day, and negligible compared to Monday’s impressive rally. Likewise, the UK’s FTSE 100 pulled below yesterday’s [..]

Daily Market Comment – Equities stay cheery but dollar creeps up, pound hits new low

Posted on December 9, 2021 at 10:11 am GMT

Stock market party continues as virus risks sidestepped, though US futures dip slightly But Omicron begins to bite as UK’s Johnson brings in Covid Plan B, pound takes a knock Loonie also slips as BoC cites Omicron danger; all eyes now on US inflation data Stocks remain optimistic but rally cools There were few signs of worry about the Omicron outbreak in equity markets as traders remained hopeful that the economic disruption from this new variant will be kept to [..]

Daily Market Comment – Stocks soar as markets look past Omicron; BoC meeting eyed

Posted on December 8, 2021 at 9:55 am GMT

Optimism prevails as investors see glass half full over Omicron threat Asia lifted by Wall Street jump but futures point to some easing in rally FX markets mostly steady, loonie at 2-week high ahead of BoC decision Fading Omicron risks boost sentiment Pre-Christmas cheer came early for equity markets as investors celebrated the growing view that the newly discovered Omicron variant is not more dangerous than the Delta strain. Early evidence suggests that Omicron causes less severe illness than the [..]

UK recovery to further fizzle out, but pound may look elsewhere – Forex News Preview

Posted on December 8, 2021 at 9:17 am GMT

UK monthly GDP growth figures for October will be published on Friday at 06:00 GMT, shedding some light on how the fourth quarter has begun for the British economy. Forecasts suggest an extension of the Q3 slowdown, but the pound may not feel so depressed after all. UK still lagging behind G7 The UK economy slowed sharply in the three months to September, expanding by 1.3% q/q compared to 5.5% in the second quarter, while in annual terms, growth nosedived from 23.5% to 6.55% as the [..]

Daily Market Comment – Stocks rally, dollar slips as Omicron fears subside, China eases policy

Posted on December 7, 2021 at 9:58 am GMT

Wall Street bounces back as investors shrug off inflation and Omicron concerns US yields also rebound but dollar pressured by improved sentiment Aussie climbs on upbeat RBA, oil rally lifts loonie, BoE uncertainty caps pound’s gains Risk appetite returns as Omicron gloom recedes further Equity markets were in a buoyant mood on Tuesday following a strong rebound on Wall Street yesterday. US stocks staged an impressive rally, with the Dow Jones gaining 1.9% and the S&P 500 1.2%, recouping last [..]

Technical Analysis – GBPUSD turns up from 13-month trough; remains in descending channel

Posted on December 7, 2021 at 7:51 am GMT

GBPUSD has been trading within a downward sloping channel since June 1, while more recently, it hit a fresh 13-month low of 1.3193 before turning higher. Also, the price resumed its downward move after it found strong resistance around the 200-day simple moving average (SMA) and the 61.8% Fibonacci retracement level of the down leg from 1.4248 to 1.3193 at 1.3845. Technically, the bias is looking bearish as the MACD oscillator is edging sideways in the negative territory, while the RSI is heading north after touching its 30 oversold level. In trend indicators, [..]

US Open Note – Risk sentiment rebounds on omicron relief; RBA policy decision looms

Posted on December 6, 2021 at 2:16 pm GMT

Omicron concerns ease after volatile week While the omicron variant keeps spreading rapidly around the globe, headlines that its symptoms are not as severe as previously feared, provided a breather to global markets on Monday after a bumpy week. Of course, it is too early to draw final conclusions, and the Covid news will probably keep everyone on their toes for longer amid fears stricter lockdown measures could roll in again ahead of the holiday season. Yet, the less risks the [..]

Daily Market Comment – Equities perk up as Omicron panic eases; Fed liftoff in focus

Posted on December 6, 2021 at 10:00 am GMT

Positive start for US and European stock futures, Asia mixed as mood brightens But still plenty of caution amid Omicron unknowns and central bank policy shifts Busy week lined up – US CPI the highlight; dollar edges higher Is the Omicron scare over? After a gruesome two weeks, US equities may be at a turning point as markets digest the growing expectation that the Fed will remove stimulus at a faster pace and amid encouraging signs that the Omicron variant [..]

US Open Note – Dollar stabilizes, equity volatility subsides

Posted on December 3, 2021 at 2:27 pm GMT

Dollar calm after disappointing November US jobs report; ISM services PMI up next Despite comments from Fed Chair Powell regarding omicron variant risks to inflation and employment, and how this could ultimately slow the progress in the labour market and reinforce supply disruptions, the markets seem to have brushed off these underlying threats for now, with US stock futures and the forex arena in a calmer mood even after today’s key US employment data. A faster taper narrative seems to [..]

Technical Analysis – GBPUSD strikes yet more lower highs; bearish forces persist

Posted on December 3, 2021 at 8:59 am GMT

GBPUSD is continuing its descending trend, recording successive lower highs in the four-hour chart. Moreover, the price is trading below the 50- and 200-period simple moving average (SMA), reinforcing the bearish sentiment for the pair. Short-term momentum indicators are reflecting a negative bias as the RSI is found below its 50 neutral line, while the MACD is located below zero and its red signal line. Should the bears remain in charge, initial support might be found at the 1.3193 barrier. [..]

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