All Articles Tagged - GBPUSD

US Open Note – Stocks flicker green, dollar buoyant after yesterday’s upbeat CPI

Posted on November 11, 2021 at 2:52 pm GMT

Inflation expectations grow, down under jobs data disappoint and UK GDP dampens rate hikes Public holidays in Canada and the US have investors’ focus turned to Australian employment, and the growth and trade data out of the UK. Yesterday’s stronger US October CPI figures have boosted rate hike expectations as a higher inflation environment, which is aiding the greenback, is projected to put further pressure on the Fed to take action. The two-year US yield is also supporting the dollar, [..]

Daily Market Comment – Dollar storms higher as hot inflation reignites Fed bets

Posted on November 11, 2021 at 9:49 am GMT

US inflation comes in hot, pouring fuel on Fed rate hike expectations Dollar hits new highs for the year against euro and sterling Stock market feels the heat, gold turns into an inflation hedge Markets reprice Fed Another shocking acceleration in US inflation unleashed havoc across global markets yesterday. The annual CPI rate clocked in at 6.2%, overcoming even the most aggressive forecasts. It was the usual suspects such as energy prices and used cars driving inflation higher again, although [..]

As central banks push back on rate hike bets, can they be trusted? – Special Report

Posted on November 10, 2021 at 3:40 pm GMT

The world’s biggest central banks have been on the offensive lately, arguing that markets have become overly aggressive with their pricing of rate hikes. Policymakers have been taken aback not only by the scale of the price shocks induced by the global shutdowns but also by how widespread and persistent the supply constraints have become. Subsequently, inflation expectations have risen to multi-year highs, with bond markets being the first to respond to the changing inflation landscape. But who is right? [..]

US Open Note – Risk off mood ahead of key US data, dollar ticks higher with yields

Posted on November 10, 2021 at 2:08 pm GMT

US Inflation report and unemployment claims mixed Investors are digesting today’s US CPI data and unemployment claims, which came out at 13:30 GMT. The figures could force the Fed to consider delivering tighter monetary policy measures, especially as inflation came in stronger. Supply shortages continue to linger and are feeding price pressures, while the rising US two-year yield is aiding the greenback. The dollar index has steered above the 94.00 mark, while the euro has dipped to $1.1535, and the [..]

Technical Analysis – GBPUSD is ready to meet 1.3500 in descending move

Posted on November 10, 2021 at 1:36 pm GMT

GBPUSD visited a strong resistance at the 23.6% Fibonacci retracement level of the down leg from 1.4248 to 1.3410 at 1.3608. The price is remaining well below the falling trend line that was drawn from the top of June 1. Technically, the RSI indicator is ticking slightly down in the negative region, suggesting a negative bias. However, the stochastic oscillator is sending encouraging signals as it is rising higher after the bullish crossover within the %K and %D lines. Failure to overcome the 23.6% Fibo could send the price down to [..]

UK flash Q3 GDP growth may not be a game changer for pound – Forex News Preview

Posted on November 10, 2021 at 10:14 am GMT

Flash GDP growth figures for Q3 will be out of the UK on Thursday at 06:00 GMT, likely displaying waning economic dynamics in the face of fading base effects and global supply crunches. A growth slowdown, however, is already priced in, and unless a significant upside surprise in the data plays into rate hike expectations, the pound could find little support to build on this week’s mild upturn. BoE keeps the door open for higher interest rates Investors had been growing confident during the [..]

Daily Market Comment – US inflation under the microscope

Posted on November 10, 2021 at 9:38 am GMT

All eyes on US inflation today, dollar’s fortunes hang in the balance Stocks pull back after massive rally, bond market in gloomy mood Oil prices jump, iron ore slumps, gold rallies but not impressively Another inflation shock? The spotlight today will fall on the latest US inflation report, which could unleash turmoil in the markets if there are any surprises. The annual CPI rate is expected to have soared to 5.8% in October, a pace not seen in three decades. [..]

Dollar braces for US inflation report – Forex News Preview

Posted on November 9, 2021 at 3:17 pm GMT

The latest US inflation data will be released at 13:30 GMT Wednesday. Forecasts point to another sharp acceleration, which could unleash turmoil in the markets as the transitory narrative melts away. As for the dollar, the outlook remains positive with the American economy out-recovering most of the world and Congress bringing more spending to the party. Firing up The US economy is in pretty good shape, considering the chaos in global supply chains. Consumption has remained resilient, lost jobs are [..]

US Open Note – Dollar still holds in negative territory after US PPI

Posted on November 9, 2021 at 2:16 pm GMT

Calm day with US core PPI Across the board, this week’s data has been strong but not so important. The market has instead been focused on central banks, with both the US Federal Reserve and the Bank of England meeting last week. The FOMC voted to taper immediately in November, with a $15bn reduction per month in purchases, which implies asset purchases would end completely by June 2022. Markets are continuing to price in a Fed lift-off that occurs sooner than the Fed desires. Even though many Federal [..]

Technical Analysis – GBPUSD’s upside impetus to be tested after bounce from 1.3411

Posted on November 9, 2021 at 9:56 am GMT

GBPUSD’s latest bullish thrust near the nine-month trough of 1.3411 is heading for a nearby tough resistance zone shaped by the Ichimoku cloud’s floor at 1.3614 and the 1.3700 handle. The 200-day SMA is promoting a more neutral trend, while the bearish 50- and 100-day SMAs are endorsing the negative trajectory. Currently, the Ichimoku lines are not indicating a clear direction in the pair, while the short-term oscillators are signalling mixed signals in directional momentum. The MACD, in the negative [..]

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