GBP/USD Trends Lower But Prepare For Pullbacks
Dear Traders, U.S. President Donald Trump’s tax-plan announcement had little impact on the market as it foreshadows an uphill battle in U.S. Congress. While Trump said the tax-cut plan was aimed at helping working people and making the tax code fairer, there is concern about the budget deficit. The plan contained only few details on […]
U.S. Dollar Strengthens, Trump Tax Plan Back In Focus
Dear Traders, The U.S. dollar strengthened against its major counterparts as comments from Federal Reserve Chair Yellen and President Trump bode well for some renewed upward momentum in the greenback. Yellen boosted expectations for a rate hike in December, saying the Fed “should be wary of moving too gradually” in its rate hike cycle. The […]
Euro Drops Below $1.18
Dear Traders, The euro weakened against the U.S. dollar in the aftermath of the German election results while the important support area around 1.1830-1.18 remained unbroken until this morning. As mentioned in our yesterday’s analysis, for the bullish bias to diminish the euro must break below 1.1830/20, the neckline of a head-shoulders pattern that was […]
All Eyes On Theresa May Speech
Dear Traders, The U.S. dollar’s recovery turned out to be only short-lived with the British pound and euro regaining some ground against the greenback Thursday. The British pound has proven to be the best performing currency in September so far but storm clouds could gather over the currency. The pound’s recent strength has been based […]
British Pound Takes Breather On Carney Comments
Dear Traders, Monday has been a quite challenging trading day for traders of the EUR/USD and GBP/USD. While the British pound declined against the U.S. dollar after Bank of England Governor Carney’s comments were interpreted as more dovish following last week’s MPC statement, we have shot all our powder and finally missed out on the […]
Pound Rises As BoE Hints At Rate Hike
Dear Traders, What a trading day for Sterling traders! The pound jumped to 1.34 as the Bank of England hinted at a rate hike “in the coming months”. While the central bank’s Monetary Policy Committee voted 7-2 to keep interest rates on hold, it was talking in much stronger terms about tightening. The pound initially […]
