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GBP/USD Rose to 1.3060 as Dollar Weakened. UK GDP +0.3% as Expected

Posted by Chris Advincula on Jul 26, 2017 7:33:03 AM

UK's economy grew at 0.3% in the second quarter as expected by many analysts compared to 0.2% in the first quarter. The sluggish GDP data dampened expectations for the Bank of England to raise interest rates in the coming months. The pound initially fell from 1.3042 to 1.3010 (-32 pips) at the initial reaction to the data. However, the pound managed to climb higher to 1.3060 as the U.S. dollar weakened and short covering into the US open.

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Topics: GBPUSD, Forex, UK GDP

RBA Leaves Cash Rate Unchanged at 1.50%; Aussie Fell Sharply to 0.7590

Posted by Chris Advincula on Jul 4, 2017 6:53:31 AM

The RBA left their Cash Rate unchanged as expected at 1.50 percent. However, the Australian dollar fell sharply from 0.7678 to 0.7620 at (-58 pips) at the initial reaction following the dovish tone of the RBA statement. the aussie fell further in early Europe from 0.7625 to test the intraday low of 0.7590. The market is also thin in the absence of the U.S. participants away for the 4th of July holiday.

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Topics: AUD/USD, Forex, RBA Monetary Policy

GBP/USD Rose to 1.3000 on Extended Gains on Mark Carney Comments on Interest Rates

Posted by Chris Advincula on Jun 29, 2017 7:20:47 AM

Sterling made extended gains against the US dollar in Europe on Thursday, testing the one-month high of 1.3007 from the 1.2820 level yesterday, as investors bought the pound on speculation that the Bank of England may begin to tighten monetary policy or perhaps raising rates in the short term future.

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Topics: GBPUSD, Fed, Bank of England, US Dollar, Forex

EUR/USD Rallies to 1.1260 on ECB's Mario Draghi Comment on Inflation

Posted by Chris Advincula on Jun 27, 2017 7:07:52 AM

The ECB President Mario Draghi said that he was reasonably confident that factors weighing on inflation is temporary and that deflation risk is now priced out of inflation expectations. Euro surged against the dollar from 1.1190 to 1.1265. (+75 pips). The US dollar fell in European trading thus adding to the euro's gain.

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Topics: EURUSD, Mario Draghi, Forex, ECB monetary policy

GBP/USD Rebounds to 1.2740 As Theresa May Forms Alliance with Northern Ireland's DUP Party

Posted by Chris Advincula on Jun 26, 2017 7:10:27 AM

Sterling reversed its decline to 1.2705 after the initial selling in early Europe following the news headline that British Prime Minister Theresa May reached an agreement with the Northern Irish Democratic Unionist Party on Monday to gain coalition support for the UK Conservatives. 

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Topics: GBPUSD, Forex, BREXIT

 

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