GBP/USD News
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On this page you can find all the latest GBP/USD news written by the FX Empire expert analysts. Make sure to keep updated with all the latest events which effect the GBP/USD market.
1.5241
0.005 (0.33%)
16:47:28 (GMT)
Bid 1.5241
Ask
1.5242
Open
1.5192
High
1.5244
Low
1.5167
May 20, 2013| FX Empire Analyst - James Hyerczyk
Gold in Position to Challenge April Low at $1321.50
June gold continued to sell-off on Monday. Downside momentum is strong enough to put the market in a position to challenge the April 16 bottom at $1321.50. Speculation that the Fed is set to announce its strategy to exit its aggressive bond-buying program has triggered a huge rise in the U.S. Dollar since May 1. Since gold is priced in dollars, it became more expensive to foreigners who pulled the plug on demand. Fund liquidation is also contributing to the...
May 20, 2013| FX Empire Analyst - Barry Norman
Global Chatter Centers On The US Dollar
Global chatter over the weekend was focused on the strength of the US dollar, the US economic recovery and the US Fed asset purchase program. The US dollar rose to its highest level in nearly 3-years versus a basket of currencies and notched its highest level versus the Japanese yen since October 2008, on growing anticipation that the Federal Reserve will move to wind down its bond-buying program and an unexpectedly strong rise in consumer sentiment. The dollar index, which...
May 17, 2013| FX Empire Analyst - James Hyerczyk
Fed Exit Strategy Speculation Drives EUR/USD Lower
Talk that the Federal Reserve is considering winding down its aggressive asset buying program helped support the U.S. Dollar today, driving down the Euro, Sterling and gold. Crude oil was able to buck the trend however. The Fed news underpinned the dollar most of the session with it getting an additional boost later in the day after the preliminary May reading of the consumer sentiment index compiled by the University of Michigan and Thompson Reuters came in at 83.7, up...
May 17, 2013| FX Empire Analyst - Barry Norman
The Greenback Trumps The Currency Markets
The dollar index, which measures greenback’s movement against six other major currencies, was at 83.758 in recent trade compared with 83.795 on late Wednesday. The dollar was near a 6-week high against the euro and a 4-1/2-year peak against the yen, on prospects of more monetary easing in the euro zone and scaled back asset buying in the United States. The US dollar recovered on Friday morning to trade above 84.04 after Federal Reserve Members support tapering off asset purchases,...
May 16, 2013| FX Empire Analyst - James Hyerczyk
Weak U.S. Economic Data Triggers EUR/USD Reversal
The EUR/USD rallied after the U.S. reported weaker jobless data and housing starts. The move reversed an earlier trend that had the Euro in a position to post another near-term low. Today’s negative news erased the gains in the U.S. Dollar that was positioned to rise further as speculators increased bets overnight that the economy would keep moving forward. Today’s news suggests that the economy may be struggling more than expected. Today’s data suggests that the Fed may not be...
May 16, 2013| FX Empire Analyst - Barry Norman
Global Currencies Under Pressure From The Greenback
The US dollar remained higher, despite weaker data on New York State’s manufacturing sector and US wholesale prices. The ICE dollar index, which measures the greenback’s movement against six other major currencies, traded at 83.795 on Wednesday compared with 83.575 on late Tuesday. Yesterday the US dollar moved above the 84.00 price and is trading this morning at 83.94. The euro dropped to a 6-week low against the US dollar on a closing basis, fell after quarterly economic reports from...
May 15, 2013| FX Empire Analyst - James Hyerczyk
Weaker Growth Data Drives EUR/USD Sharply Lower
The EUR/USD dropped to a six-week low on Wednesday after France said its first-quarter GDP contracted 0.2% and Germany said its first quarter growth was 0.1%. The data from France showed the third contraction in the last four quarters. Germany’s small growth missed pre-report estimates of 0.3%. The news helped push the EUR/USD through a key Fibonacci level at 1.2934. This price becomes new support. The daily chart indicates today’s next downside target is 12816. The next potential downside target...
May 15, 2013| FX Empire Analyst - Barry Norman
The Strength Of The Greenback Over Powers Global Currencies
The euro finally fell to close below the 1.2950 level. Late in the day Fitch rating services, raised Greece’s credit rating but this positive news was not enough to support a climb in the euro. The US dollar strength continues heading towards the 84 price level. US data showed that small business confidence soared above expectations, which continues to reinforce the theory that the US Fed will reduce or halt their asset purchases in the near future. The euro group...
May 14, 2013| FX Empire Analyst - James Hyerczyk
Higher U.S. Dollar Pressuring Commodities, Currencies
The stronger U.S. Dollar weighed on commodities and currencies today. Poor economic reports and the possibility the Fed will release a plan to exit its stimulus program underpinned the dollar most of the session. The EUR/USD traded slightly lower following the release of a less than stellar ZEW report. The German investor confidence index rose by only 0.1 to 36.4. This missed analyst estimates of 40.0. Economist had been looking for the higher number because of the recent rise in...
May 13, 2013| FX Empire Analyst - James Hyerczyk
Stronger U.S. Economy Pressuring British Pound
The GBP/USD fell to a two-week low after the U.S. Commerce Dept. announced retail sales unexpectedly increased last month. The difference in the growth rates of each economy is also acting as the catalyst behind today’s move. According to a U.K. business lobby report, the U.S. economy expanded at eight times the rate of the U.K.’s in the first quarter. This news should keep a bid under the U.S. Dollar, leading to additional pressure on the Sterling. Technically, the GBP/USD...
May 13, 2013| FX Empire Analyst - Barry Norman
The Strong US Dollar Weighs On The Majors
The big market news today is the pass given the Japanese government by the G7 at the conclusion of their summit. The G7 was expected to support individual nation’s rights to stimulate their economy and push growth. The G7 agreed that the decline of the yen was a result of economic stimulus and not currency manipulation. Although many export countries as upset as buyers move to Japan leaving European and South Korean products at the factory. The yen fell past...
May 10, 2013| FX Empire Analyst - James Hyerczyk
Gold Tumbles on Short-Selling and Sell Stops
A strong U.S. Dollar triggered another massive break in June gold on Friday. Selling pressure also hit crude oil, the British Pound and the Euro as investors dumped hard assets and weak currencies in favor of the U.S. Dollar. Late breaking news yesterday may have triggered the break in gold. The move was fueled by comments from Fed Bank of Philadelphia President Charles Prosser. Speaking in New York on Thursday, Prosser said he wants the central bank to start reducing...
May 10, 2013| FX Empire Analyst - Barry Norman
Currency Traders Respond To Strong US Data & Monetary Stimulus Rumors
The left-wing opposition politician who was Germany's finance minister when the euro was adopted says it's time to think about abandoning the common currency in the wake of the enormous economic problems in southern Europe. The euro fell against the dollar on Thursday, after two days of gains, hurt partly by a weaker than-expected Spanish debt auction that served as a reminder to investors that the outlook for the euro zone's weaker nations remained uncertain. The euro is trading at 1.3040 after...
May 09, 2013| FX Empire Analyst - James Hyerczyk
GBP/USD Pauses after Bank of England Decision
The GBP/USD traded lower on Thursday despite the Bank of England’s decision to leave its benchmark interest rate unchanged. The central bank left its interest rate at 0.5 percent, a record low, and also held its stimulus program at $580 billion. Since late April, the GBP/USD has rallied from 1.5196 to 1.5606 after it was reported that the U.K. economy narrowly avoided falling back into a recession for a third time in five years. Bullish traders are banking on improvements...
May 09, 2013| FX Empire Analyst - Barry Norman
The AUD and NZD repond to banks and jobs data
The euro rose to a one-week high against the dollar and a more than 2-week peak against the yen on Wednesday, as positive German data eased fears about the eurozone's largest economy and diminished expectations of a near-term interest rate cut. Today’s German data release supported the prior days, Factory orders. News that eurozone leaders might is considering disbanding the troika and allow EU institutions to take over future crisis negotiations. The euro is trading at 1.3163 this morning. EURUSD...
May 08, 2013| FX Empire Analyst - James Hyerczyk
EUR/USD Mid-Session Analysis for May 8, 2013
With little fresh economic news to trade, investors pressured the U.S. Dollar for a third day following Friday’s expanded range to the upside. The reaction that day was triggered by a friendly U.S. jobs data report. The subsequent sell-off represents renewed concerns about the strength of the economy and the degree of aggressiveness of the Fed’s asset buyback program. The weakening dollar suggests that investors expect the economy to remain sluggish and for the Fed to maintain its $85 billion...
May 08, 2013| FX Empire Analyst - Barry Norman
Global currency markets are somewhat subdued
Global equities trading activity was somewhat subdued, US stocks moved mostly higher over the course of the trading day on Tuesday. The gains on the day extended the upward trend that has been shown by the markets over the past few weeks. The Dow broke the 15,000 level for the first time. With no major economic news being released, last Friday's better than expected jobs report seems to still be on the minds of traders. Meanwhile, the European stock markets...
May 07, 2013| FX Empire Analyst - James Hyerczyk
Technical Selling Pressures Gold Futures
The June gold futures contract traded sharply lower on technically based selling. After reaching a key retracement zone on April 26, the market stalled while establishing short-term support at $1455.80 and resistance at $1487.49. These prices represented the 50% and 61.8% retracement levels of the $1590.10 to $1321.50 range. The inability to break through the upper level of this range was the first sign of weakness, but today’s move through the lower level confirmed the selling pressure. Based on the...
May 07, 2013| FX Empire Analyst - Barry Norman
Tuesday Morning Currency and Market Round Up
On Monday, global markets seemed to be on holiday. With the FTSE closed for a bank holiday and Japan ending the Golden Week celebrations traders around the world seemed to enjoy a breather after last week’s barrage of central banks and economic data. The S&P 500 managed to close at a record high Monday, boosted by gains in Bank of America and Apple. The benchmark index finished the day at a record close of 1,617.51. Earlier, it climbed as high...
May 06, 2013| FX Empire Analyst - James Hyerczyk
Crude Oil Breaks on Weak Chinese Data
With Tokyo and London closed for holidays, trading volume was generally thin across the Forex markets. The U.S. Dollar is trading better against most major currencies including the Euro and British Pound. The stronger Greenback is also putting some pressure on June gold and June crude oil. Crude oil continued its bullish run on Monday on supply concerns. On Friday the market surged on expectations the stronger-than-expected jobs data indicated an improving economy. Today, crude oil traded better early in...
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