All Articles Tagged - GBPUSD

US Open Note – Dollar continues march higher after the US retail sales release

Posted on November 16, 2021 at 2:04 pm GMT

US retail sales ticks up US retail sales are the highlight of today. The figure climbed by 1.7% m/m for October as compared to 0.8% in the previous month, driving the greenback higher. Despite supply issues and delivery delays, there is a strong belief that customers will begin their holiday shopping earlier this year. Vice President Biden has made his selection for the position of Chairman of the Federal Reserve. Powell is the most qualified candidate, even though Brainard has [..]

Daily Market Comment – Higher yields cap Wall Street gains but lift dollar, pound catches a bid

Posted on November 16, 2021 at 10:10 am GMT

Inflation worries lift Treasury yields, holding back stocks; retailer earnings in focus Little to report from Biden-Xi summit but easing tensions boost yuan Euro and pound pulled in opposite directions by policymakers, dollar holds firm It’s still all about inflation Uncertainty about the persistence of higher inflation continues to dog investor sentiment amid ongoing speculation about the timing of interest rate hikes by the world’s major central banks. A stronger-than-expected jump in the New York Fed’s manufacturing gauge on Monday [..]

Technical Analysis – GBPUSD pulls back off 11-month low; remains in descending channel

Posted on November 16, 2021 at 7:53 am GMT

GBPUSD bounced off the 11-month low of 1.3350, holding in a long-term descending channel. Technically, the RSI is rising in the negative region, while the %K line and the %D line of the stochastic oscillator posted a bullish crossover in the bearish area. However, the 20- and 40-day simple moving averages (SMAs) created negative cross in the short-term. If the pair extends its recent structure to the upside, immediate resistance could come from the 23.6% Fibonacci retracement level of the [..]

Will UK inflation data rekindle BoE rate hike talk, jump-start the pound? – Forex News Preview

Posted on November 15, 2021 at 3:43 pm GMT

It’s a packed week for UK economic indicators, starting with the labour market report on Tuesday, CPI figures on Wednesday and retail sales data on Friday, all due at 07:00 GMT. The pound is still licking its wounds from the Bank of England flip flopping on its rate hike decision, with the surge in the US dollar adding to the pain. But potentially upbeat numbers in this week’s trio of releases might turn out to be the reminder that investors [..]

US Open Note – Greenback slips as Fed tapering starts

Posted on November 15, 2021 at 2:04 pm GMT

Fed tapering begins According to the FOMC meeting of November 2-3, tapering will begin this week as planned. The New York Fed announced its modified bond-purchase schedule last week, confirming that tapering will start this month. Until June, the Federal Reserve intends to keep reducing its purchases by $15 billion each month. There is a possibility of a change in tapering speed, but the Fed has indicated that it will only do so if it is necessary. Futures for the Fed Funds rate are still pricing in a Q2 liftoff of roughly two-thirds, while [..]

Daily Market Comment – Cautious tone ahead of risk events, dollar softer

Posted on November 15, 2021 at 10:03 am GMT

Stocks are mixed, dollar eases ahead of Biden-Xi meeting, US data, Fed speakers Modest lift from upbeat Chinese data as worries about property sector linger Yield differentials in driving seat in FX market, gold holds near highs Subdued start to week amid caution It was a relatively subdued start to the week across financial markets on Monday as stocks, bonds and the dollar were still reeling from last week’s US CPI shock. The panic and fallout from the jump in [..]

US Open Note – Dollar turns down after printing new highs

Posted on November 12, 2021 at 1:46 pm GMT

Eyes on JOLTS job openings ahead of inflation expectations There is a scarcity of fresh information today. The JOLTS job openings for September and the preliminary November consumer mood index from the University of Michigan will be released later in the day. The results of the JOLTS survey should demonstrate that supply of workets continues to be the most pressing issue in the labor market. These are generally second-tier economic data from the United States, but they may garner more attention this time around because [..]

Week Ahead – More CPI data incoming; is the inflation storm about to get bigger?

Posted on November 12, 2021 at 12:58 pm GMT

As inflation in the United States hits a three-decade high, there could be further nasty surprises on the way as more countries publish their monthly CPI prints. The focus will also be on the economic recovery, as there is a host of other data coming up, including from the United Kingdom, Japan, China and Canada. Will global bonds join the selloff in US Treasuries if inflation surges elsewhere too, or will the dollar continue to ascend? US retail sales [..]

Weekly Comment – US retail sales in the spotlight

Posted on November 12, 2021 at 11:21 am GMT

The USD jumped as inflation continues to cast a shadow over the markets after the latest CPI report, fuelling bets that the Fed might accelerate its normalization plans. Talks around inflation are likely to dominate the headlines in the coming week as a raft of CPIs and retail sales data is on the way, while China reports its industrial production numbers. The highlights: Inflation will be a ‘hot’ topic in Canada, Japan, and the United Kingdom next week. Stronger-than-expected CPI [..]

Technical Analysis – GBPUSD pulls back off 11-month low around 1.34

Posted on November 12, 2021 at 9:51 am GMT

GBPUSD rebounded off the 11-month low of 1.3352 today, remaining well below the 20- and 40-period simple moving averages (SMAs) as well as the long-term descending trend line. The RSI is sloping up in bearish territory while the MACD is still developing below its trigger and zero lines. If the pullback of the last few sessions continues, the door could open for the 1.3430 resistance before visiting the 20- and 40-period SMAs at 1.3466 and 1.3500, respectively. Surpassing these lines, the [..]

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