GBPUSD is pairing some losses that were posted in the preceding nine consecutive red candles in the 4-hour chart. Over the last month, the price has been developing within an ascending channel and the latest bullish action is being confirmed by the RSI, which is sloping slightly up in the positive region. However, above the zero level the MACD oscillator is still holding beneath its trigger and the red Tenkan-sen line is pointing down. If the price continues to gain momentum the next immediate resistance could come from the 1.3175 barrier ahead of the [..]
US stimulus deal edges closer as talks continue, investors hold tight No clear winner from final presidential debate; uncertainty adds some support to dollar Euro bounces from lows as strong manufacturing shores up flagging Eurozone recovery No deal yet but high hopes for more stimulus Markets remain fixated on the stimulus talks in Washington as the week draws to a close, with the window for a deal to be struck before the November 3 election closing fast. Positive signals about [..]
Talks on US stimulus package continue but deal in doubt after Trump slams Democrats Dollar regains some footing, equities drift lower as final presidential debate eyed Brexit progress supports euro and pound as virus cases spiral out of control Stimulus setback after Trump throws a tantrum Hopes for a quick deal on a new coronavirus aid package in the United States have faded somewhat as negotiations between the White House and the Democrats drag on. Disagreement over funding for state [..]
It may be hard to escape the latest bombardment of Brexit headlines but crucial economic data coming up at the end of the week may help divert attention to the recovery in Britain as COVID-19 cases continue to rise rapidly across the country. Retail sales numbers for September are due on Friday at 09:00 GMT, to be swiftly followed by the flash October PMIs at 08:30 GMT. Although growth in the economy has stayed positive since May, there are increasing [..]
Talks continue on virus relief bill as Trump backs large stimulus Stocks rise but gains contained amid doubts about Republican support Dollar slumps to one-month low as euro soars, gold catches a bid too Markets anxiously await a stimulus deal Growing optimism that a bipartisan deal on a new coronavirus aid package in the United States is within reach lifted equities on Wednesday while investors dumped the safe-haven US dollar. Talks between House Speaker Nancy Pelosi and Treasury Secretary Steven [..]
US stimulus talks make progress but short time window spooks investors Aussie slips as RBA gives clearest indication yet it will ease policy soon Pound steady despite endless brinkmanship in Brexit talks Stimulus deal getting closer but may come too late Talks in the United States on a new round of fiscal stimulus remains very much the focus for investors as time is fast running out for a pre-election spending bonanza. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin [..]
GBPUSD has reversed back down again after finding resistance at the 1.3080 level and the 1.3000 psychological mark, being the 23.6% Fibonacci retracement level of the up leg from 1.1409 to 1.3487. The momentum indicators are pointing to a neutral bias in the short term with the RSI holding near the 50 level and the MACD oscillator is moving sideways around the zero level. Also, the price is holding within the 20- and 40-day simple moving averages (SMAs) and the [..]
Pelosi sets new deadline for reaching fiscal stimulus deal; US stock futures edge up Mild risk-on tone after China GDP miss as stronger September lends support Pound shrugs off on-off Brexit talks as UK leaves door open to a deal Euro struggles after Lagarde adds to growing dovish voices Hopes for pre-election stimulus deal not dead yet Fresh talks in Washington between the White House and the Democrats on a new virus relief bill kept alive hopes that a deal [..]
The virus reality has come back to bite markets just as investors were attempting once again to shrug off the gloom and doom. The daily frequency of tighter Covid restrictions being announced across Europe and dimming expectations of a pre-election stimulus deal by US lawmakers has put a dampener on risk sentiment over the past few days. Uncertainty about the US election and Brexit are adding to the market anxiety. With none of these outstanding issues expected to be resolved [..]
GBPUSD swung by about 100 pips on Friday, setting an upper boundary around 1.2960 and a floor at 1.2860. The momentum indicators in the 4-hour chart are pointing to a mixed bias in the near term. The %K line of the stochastic oscillator continues to climb out of oversold territory and is positively sloped with the %D line, suggesting there is still some upside left in the pair after today’s erratic moves. But looking at the RSI, which is heading [..]
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