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.
1.5133
0.0025 (0.16%)
19:29:41 (GMT)
Bid 1.5131
Ask
1.5134
Open
1.5110
High
1.5144
Low
1.5064
May 24, 2013| FX Empire Analyst - James Hyerczyk
Friendly Durable Goods Report Reverses EUR/USD to Down
Early session volatility disappeared and liquidity dried up as investors appear to have headed to the sidelines ahead of the U.S. holiday on Monday. If you missed the early moves then don’t expect to catch up later as the current action suggests that the bigger players have packed it in for the long week-end. Overnight, the U.S. Dollar Index futures contract turned its main trend to down on the daily chart, but the move failed to attract any major sellers...
May 24, 2013| FX Empire Analyst - Barry Norman
Global Recovery Weighs On The Currency Markets
The US dollar tumbled from 84.44 just two days ago to trade at 83.75 on Friday morning as the US Fed keeps traders unsure. Yesterday, unemployment claims reported better than forecast, with first time and ongoing claims fell below forecast. Existing home sales also reported well above expectations. Signs that the US recovery was well underway, could trigger a tapering in asset purchases by the Fed. Economists don’t expect the Fed to curtail the bond purchases next month, but Paul...
May 23, 2013| FX Empire Analyst - James Hyerczyk
Falling Equity Markets Fuel Crude Oil Weakness
Falling stock prices and weak economic data drove July Crude Oil prices lower on Thursday. Yesterday, comments from Fed Chairman Ben Bernanke regarding the curtailing of the Fed’s aggressive bond-buying program drove equity markets sharply lower, dragging down crude oil prices due to a soaring U.S. Dollar. This weakness continued today after China’s manufacturing sector showed further signs of developing weakness in May. The drop in factory activity signaled to investors that a slowdown in the world’s second largest economy...
May 22, 2013| FX Empire Analyst - James Hyerczyk
Dovish Bernanke Testimony Should Pressure Greenback
The markets were mixed overnight as investors applied various strategies ahead of Federal Reserve Chairman Ben Bernanke’s testimony before Congress. The EUR/USD and gold traded higher while the GBP/USD and crude oil posted lower prices. Based on early stock market activity, it looks as if investors expect Bernanke to maintain a dovish tone if asked about ending the Fed’s aggressive stimulus program. His criteria for ending the program are expected to be the same – economic growth and a drop...
May 22, 2013| FX Empire Analyst - Barry Norman
Currencies Decline While Equities Soar
Market players pushed stocks higher into record territory yesterday after comments from a Federal Reserve official raised hopes the central bank will continue to pump money into the financial system. Dow Jones and S&P 500 both closed at record highs Tuesday, gaining 0.3% and 0.2% for the day. The NASDAQ added 0.2% to end at its highest level since 2000. Investors have been paying close attention to comments from various Fed officials recently as they attempt to gauge when the...
May 21, 2013| FX Empire Analyst - James Hyerczyk
Inflation Data Drives GBP/USD to Six-Week Low
The GBP/USD fell on Tuesday to a six-month low after a government report showed inflation slowed more than pre-market estimates. The weak data gave the Bank of England more room to boost stimulus, a move that tends to weaken a currency. Tomorrow the BoE publishes the minutes of its May 8-9 meeting. The minutes will reveal how many policy makers voted to boost asset purchases. This will offer clues to traders as to which way the central bank is leading...
May 21, 2013| FX Empire Analyst - Barry Norman
FOMC Evans Shakes Up The Forex Market
The US dollar slipped a bit late in the day on Monday and is trading flat this morning. It was an extremely quiet day with low volumes as the equities market seemed to be all ablaze about the 1.1 billion dollar Tumblr deal. Traders had pushed gold down by $20.00 in the Asian session trying to test the 1321 support levels. The US dollar continued to trade in the 84.00 range. Chicago Federal Reserve President Evans was scheduled to speak...
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...
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