Technical Analysis – EURGBP edges sideways around 9-month low

Posted on February 10, 2021 at 3:51 pm GMT

EURGBP is consolidating around depths not reached in nine months, capped by the 50-period simple moving average (SMA). The Ichimoku lines are reflecting the pause in negative momentum, while the downward sloping SMAs are defending the short-term bearish demeanour in the pair. A glimpse at the short-term oscillators suggests that a pickup in negative sentiment could play out. The MACD, below zero, is slightly above its red trigger line but is looking set to dip back below it, while the [..]


US Open Note – Dollar back to gains despite calm day; euro steady

Posted on February 8, 2021 at 2:05 pm GMT

Dollar records some gains; US stocks at record highs In a quiet day, the major theme is the inflation expectations in the US that continue to rise. Treasury Secretary Yellen is asking for a larger stimulus package to bring the economy back to full employment. The dollar seems ready to resume its recovery. The US dollar index is moving marginally up, while dollar/yen is approaching the 105.70 level again, hitting the 200-day simple moving average (SMA). In the stock market, an index tracking global bourses met another all-time [..]


US Open Note – Dollar pauses its rally after NFP; oil still up

Posted on February 5, 2021 at 2:05 pm GMT

Dollar steady after NFP report The US dollar lost some ground after the publication of the non-farm payrolls report but is still steady today around 105.50 against the yen, as there’s a good argument that the numbers make a big stimulus package more likely. The US dollar index is moving lower, while US stocks are recording new highs. The US economy added 49K jobs in January, compared to market expectations of a 50K rise and -227K previously, while the unemployment rate declined to 6.3% from 6.7% in the preceding month. US President Joe [..]


US Open Note – Dollar keeps heading higher; pound back to gains after BoE decision

Posted on February 4, 2021 at 1:48 pm GMT

Pound return to gains after BoE decision; Eurozone retail sales come up The key driver of the day is the Bank of England (BoE) interest rate decision. The pound jumped higher, returning above 1.3650 versus the US dollar, as the BoE left its bank rate unchanged at a record low of 0.1% and its bond-buying program unaltered during its meeting. The crucial point is that the BoE said that its actions should not be taken as a signal that negative rates are coming and that has seen a push back [..]


Will the Bank of England embrace negative rates? – Forex News Preview

Posted on February 3, 2021 at 2:54 pm GMT

The Bank of England is due to announce its first policy decision of 2021 on Thursday at 12:00 GMT. No change in policy is expected but updated economic forecasts will be published alongside the statement. However, much of the focus will be on the Bank’s findings of its review into the effectiveness of a negative interest rate policy. The United Kingdom has been one of the worst-hit countries from the Covid-19 pandemic, both economically and in terms of infections and [..]


Daily Market Comment – Dollar, stocks rise in tandem as Democrats push ahead with stimulus

Posted on February 3, 2021 at 10:05 am GMT

Democrats move to fast-track Biden’s stimulus package through Congress Wall Street surges for second day on earnings beats, brighter outlook US yield curve steepens, lifting the greenback; euro gets left behind Stimulus and vaccine hopes buoy markets Optimism about a stronger economic outlook and an ebb in the pandemic continued to gather pace on Wednesday, erasing last week’s jitters that sent stocks plunging and the dollar soaring. Equities have since made a powerful comeback, but the US currency has only [..]


Technical Analysis – EURGBP looks to escape from 8-month lows

Posted on February 3, 2021 at 8:29 am GMT

EURGBP is seeking shelter around the 0.8800 round-level and near eight-month lows after breaching the tough lower boundary of its seven-month-old range. Although the RSI and the MACD remain comfortably below their neutral levels, discouraging a meaningful rally, they cannot exclude the case of a rebound as the RSI seems to have found a bottom just above its 30 oversold level and the MACD is stabilizing around its red signal line. On the upside, however, there are several obstacles which could cancel any upside correction. The [..]


US Open Note – Stocks resume gains; oil pushes higher

Posted on February 2, 2021 at 1:59 pm GMT

Dollar, stocks and oil advance even higher One of the main highlights today is the rally in the US dollar, which is still moving higher, near 105.00 versus the Japanese yen. The dollar index is slightly up, while US stocks were re-energized as investors awaited a slew of earnings from corporate America including Exxon Mobil, and Alphabet. The US economy will return to pre-pandemic levels even without another shot of stimulus, announced a study of the Congressional Budget Office. This will endorse the Republicans’ that there is no need for one [..]


US Open Note – Dollar advances higher, euro dips

Posted on February 1, 2021 at 1:56 pm GMT

Next US relief bill still in focus; Dollar and silver surge One of the major highlights of the current week is the effort to pass the next relief bill in the US. Ten Republican Senators have drawn up a $600 billion alternative to President Biden’s $1.9 trillion proposal. The dollar index is 0.32% up today and dollar/yen has a noteworthy upside rally for the fourth day in a row, heading towards 105.00. US stocks reversed higher again while silver surged by 8.62% [..]


Technical Analysis – EURGBP’s picture dampens with dive under key support base

Posted on January 20, 2021 at 12:14 pm GMT

EURGBP plunged today underneath the critical support foundation of 0.8860-0.8884 that had defended the positive structure since the end of May 2020. The falling 50- and 100-period simple moving averages (SMAs) are endorsing further deterioration in the pair, while the 200-period SMA retains a more neutral tone. The short-term oscillators are also demonstrating a minor rise in negative momentum. The MACD, some distance below zero, has slipped back underneath its red trigger line, while the declining RSI has reached the [..]

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