GBP/USD has hit new highs amid a mix of positive developments. Brexit, Powell’s speech and Nonfarm Payrolls stand out. Early December daily chart continues painting a bullish picture. The FX Poll is pointing to short-term gains and a fall afterward. An exit from the pandemic is more powerful than a Brexit deal – at least in … “GBP/USD: Brexit, Powell and Nonfarm Payrolls promise a hectic start to December”
Month: November 2020
US GDP Preview: Good reasons for an upside surprise, but not necessarily a dollar surge
The second read of third-quarter GDP is set to confirm a surge of 33.1% annualized. Previous beats and new data point to an upside surprise. The dollar may fail to repeat its positive reaction to upbeat data. The best quarter in history – no downside surprise can take away that characterization of third-quarter growth in … “US GDP Preview: Good reasons for an upside surprise, but not necessarily a dollar surge”
GBP/USD: Deal or no deal? Boxed-in Boris may unleash a rally
GBP/USD has been marching higher in hopes of a Brexit deal. Coronavirus headlines and several data points compete with EU-UK talks for attention. Late November’s daily chart is painting a bullish picture. The FX Poll is pointing to short-term gains. Far away, so close? Brexit headlines have continued whipsawing GBP/USD – and so have changing market … “GBP/USD: Deal or no deal? Boxed-in Boris may unleash a rally”
Eurozone PMIs Preview: Three reasons why expectations are too low, EUR/USD may rise
Markit’s preliminary November PMIs are set to show declines on all parameters. Previous beats, vaccine prospects, and light lockdowns make room for an upside surprise. EUR/USD has room to rise in response to the data. Winter has arrived and with it, a surge in virus cases and an economic downturn – that is the main … “Eurozone PMIs Preview: Three reasons why expectations are too low, EUR/USD may rise”
US covid cases show tentative signs of flattening, could help investors see glass half-full
US COVID-19 cases are showing tentative signs of flattening in the current winter wave. Markets are torn between promising vaccine news and grim reality. Signs of stability could help focus investors on the upbeat scenario. Light at the end of the tunnel – Pfizer and BioNTech reported 95% efficacy in their coronavirus candidate, better than … “US covid cases show tentative signs of flattening, could help investors see glass half-full”
GBP/USD: Even Boris cannot break the pound’s power play amid Britain’s covid edge
GBP/USD has hit new highs amid vaccine optimism and US political certainty. Crunch time for Brexit and several data points are of interest. Mid-November’s daily chart is painting a bullish picture. The FX Poll is pointing to long term gains for cable. Light at the end of two tunnels – a call in the US elections … “GBP/USD: Even Boris cannot break the pound’s power play amid Britain’s covid edge”
GBP/USD: Taking profits in fear of Trump? Not so fast, many moving parts eyed
GBP/USD has come out on top amid long US elections process and BOE stimulus. Further ricochets from American politics and the UK GDP stand out. Early November’s daily chart is painting a bullish picture. The FX Poll is pointing to further gains for cable. A week for the history books – GBP/USD bulls are emerging on … “GBP/USD: Taking profits in fear of Trump? Not so fast, many moving parts eyed”
2020 Elections: Where the race stands in four critical states, traders on the edge of their seats
Biden holds onto leads in Arizona and Nevada. Trump’s advantage is narrowing in Pennsylvania and Georgia. The president has made unsubstantiated claims about fraud. Markets see a delayed outcome rather than a contested one. The US Presidential Elections have yet to be decided – but there are greater chances that the outcome is only a … “2020 Elections: Where the race stands in four critical states, traders on the edge of their seats”
Powell adds fuel to the market fire by defending QE, rally set to extend
The Federal Reserve has left rates unchanged and has said the recovery’s pace has moderated. Chairman Powell has defended the QE policy, saying the Fed discussed it. Markets are already on the rise on hopes for a decisive election. How can the Federal Reserve compete with the dramatic US elections? It probably cannot steal the … “Powell adds fuel to the market fire by defending QE, rally set to extend”
BOE gives pound bulls three gifts, what to watch for next
The BOE expanded QE by more than expected, allowing for a quicker recovery. Its open commitment to additional bond-buying is also positive. Refraining from setting negative rates leaves this option further in the distance. Printing money used to devalue the underlying currency – until the pandemic came around. Creating money out of thin air has … “BOE gives pound bulls three gifts, what to watch for next”