GBPUSD has been softly rising since the day it tumbled to a new 31-month low of 1.2014 but the 20-day simple moving average (SMA) appeared somewhat restrictive on Monday, pushing the price a little bit lower. The MACD continues to improve above its red signal line, though with the RSI holding in bearish territory and the Tenkan-sen pointing downwards well under the blue Kijun-sen, the short-term risk remains skewed to the downside. Nearby resistance could be found between the 20-day SMA [..]
Risk sentiment continues to improve on reports of China interest rate reforms and German fiscal stimulus Stocks have a positive start to week while safe-havens yen, Swiss franc and gold retreat Dollar holds firm as markets await policy cues from Powell at Jackson Hole symposium China reforms and German stimulus reports boost markets Markets opened in a positive mood on Monday, extending the rebound in risk appetite from late last week. Sentiment was boosted from developments over the weekend that [..]
The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]
Stocks head higher as Trump trade comments and strong US retail sales calm markets But fears of a downturn persist as bond markets remain in dangerous territory Pound up on latest bid by UK opposition parties to thwart no-deal Brexit Stock market sell-off eases on positive headlines Stocks in Asia were mostly positive on Friday and European and US equity futures were also pointing to a firmer start following yesterday’s rebound in risk appetite. Sentiment was boosted from a surprise [..]
US tariff exemptions lift risk sentiment – stocks soar, yen retreats But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]
GBPUSD breached the 1.2381 swing low, causing a steeper downfall towards the 138.2% Fibonacci extension of 1.2026 of the up leg from 1.2393 to 1.3381. The relatively flat momentum indicators support a very short-term breather. The MACD has flattened below its red trigger line, whereas the RSI is hovering on the 30-level of the oversold area. Despite the short-term pause view, the negatively-sloped simple moving averages (SMAs) indicate that the trend is likely to remain on the downside. If the [..]
Safe havens shine and stocks retreat – mainly on fears about Hong Kong Deteriorating political outlook in Italy likely adding to risk aversion Busy calendar today, with crucial UK, German, and US data coming up Stocks stumble on reports China may crack down on Hong Kong protests Risk aversion was the name of the game on Monday, as worrisome political headlines triggered another rotation away from risky assets like stocks, and into the safety of havens like the Japanese [..]
Sterling resumes downtrend as UK economy shrinks, Brexit fears intensify Yen extends gains after Trump says he isn’t ready to make a deal Calendar practically empty today, in a thin liquidity environment Pound feels the burn as UK economy contracts The British pound remains the ‘sick man’ of the FX market, plummeting to a new three year low against the euro on Friday, after the latest GDP figures showed that the economy contracted in Q2 for the first time since [..]
A raft of data is due out of the UK next week, but with key Brexit dates coming up in September and October, investors will likely ignore the usually closely watched indicators. Nevertheless, the releases may provide some near-term support for the battered pound, starting with jobs numbers on Tuesday, followed by inflation on Wednesday and retail sales on Thursday, all due at 08:30 GMT. UK labour market to remain tight Although Britain’s labour market has cooled somewhat in recent [..]
It may be a quiet week in financial markets, with no central bank meetings or any other major events on the agenda, as the summer lull finally kicks in. Economic data will therefore attract most of the attention, though any tweets on the trade war or Brexit news could always stir things up. British data unlikely to be a game-changer for the pummeled pound The UK economy continues to feel the heat, with GDP growth contracting in Q2, as Brexit [..]
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