GBPUSD is retreating somewhat after the pullback off the 33-month high of 1.3745 in the preceding week. Currently, the pair is flirting with the 20-day simple moving average, remaining well above the long-term uptrend line, which has been holding since May 2020. Technically, the RSI indicator is pointing slightly lower in the positive territory as well as the stochastic oscillator, which posted a bearish crossover within the %K and %D lines below the overbought zone. However, the red Tenkan-sen line [..]
Wall Street set for new record highs as California lifts stay-at-home order Dollar stable as traders look to Fed meeting, sterling near recent peaks But geopolitics, virus mutations, and stimulus talks threaten a reality check Stocks sail higher as investors focus on the positives American equity markets continue to trade like a runaway train, setting the tone for most other assets. Expectations for a massive spending package from Congress are riding high, and with the Fed chief recently reaffirming that [..]
With President Biden now in office, markets will be on alert for any remarks from US Senators about whether they’d support the massive stimulus bill he proposed. A tough negotiating battle could see the final proposal being watered down. The Federal Reserve will meet as well. No policy changes are on the menu, so Chairman Powell is likely to reaffirm that it’s too early to discuss tapering. There’s also a blitz of economic data, including fourth-quarter GDP from America and [..]
GBPUSD’s recent retreat is nearing the 50-period simple moving average (SMA) at 1.3647 and so far appears to be incapable of hurting the bullish tone in the pair. The upwards creeping red Tenkan-sen line and the steadily climbing SMAs are promoting further advances in price. However, the flattening blue Kijun-sen line and the short-term oscillators are endorsing the retraction in the pair. The MACD, some distance above zero, has plunged under its red trigger line, while the decreasing RSI has [..]
Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]
Hopes of more stimulus and relief over Biden’s peaceful transition lift sentiment US stocks close at new record highs as strong earnings add extra fuel Dollar skids again, euro bounces off lows ahead of ECB decision Optimism high as Biden enters White House After four tumultuous years, Trump’s presidency came to a historic end on Wednesday, as Joe Biden marked his first day at the White House by spreading a message of hope and unity to a fractious nation. While [..]
Having only just come out of lockdown number two, much of the United Kingdom finds itself shut down again as the recently discovered new variant of Covid-19 is spreading even faster than previously known strains. This new highly contagious version of the virus left the government no choice but to impose the toughest measures since the first lockdown at the beginning of January. Hence, it will come as no surprise that the flash PMIs for the month – due on [..]
Stocks power higher after Yellen calls for more big spending to fight pandemic Risk assets rally ahead of Biden inauguration as reflation trade boosted Dollar under renewed selling pressure, gold capitalizes Yellen talks up big spending Risk appetite was riding high on Wednesday after Treasury Secretary nominee Janet Yellen reignited hopes of more massive stimulus packages in the United States in her confirmation hearing yesterday. Yellen went out of her way to make the case for higher spending to counter [..]
Stocks perk up after slow start to the week as focus turns to Yellen and earnings Hopes that Biden administration will spend “big” bolsters sentiment Euro steadies as Italian worries abate, dollar retreats Yellen to tell US lawmakers to “act big” After a sluggish start to the week, risk sentiment improved late on Monday as investors turned their attention on incoming Treasury Secretary Janet Yellen’s confirmation hearing before the Senate today (1500 GMT), while bracing themselves for a slew of [..]
GBPUSD managed to calm bearish forces around the 20-day simple moving average (SMA) once again following the latest rejection from the 1.3700 level, hinting that bullish appetite has not fully faded yet. In the near-term, the consolidation phase may continue as the RSI and the MACD keep lacking direction, with the former sidelining above its 50 neutral mark and the latter hovering around its red signal line. The red Tenkan-sen also remains trendless above the blue Kijun-sen line, suggesting an [..]
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