Analytics

The European Central Bank is set to leave policy unchanged in July after acting in June.  The bank’s decision comes ahead of a critical EU Summit to discuss fiscal stimulus.  The ECB will likely urge governments to agree, yet without creating panic. Lagarde has picked the low-hanging fruit – and now needs her political skills…

EUR/USD has been on the back foot as US coronavirus deaths rise and Biden bashes Wall Street.  Speculation about the EU summit and updated COVID-19 statistics are eyed. Friday’s four-hour chart is showing a worsening picture for bulls. “Wall Street CEO did not build America” – these words by Joe Biden, the presumptive Democratic nominee…

GBP/USD has corrected lower amid US coronavirus concerns Biden’s comments. Brexit, UK fiscal stimulus, and new COVID-19 statistics are in play. Friday’s four-hour chart is showing that the currency pair exited overbought conditions. After one step back, will sterling take two forward? GBP/USD came out of overbought conditions and dropped due to two US factors.…

EUR/USD has hit the highest in four weeks amid market optimism. Concerns about the EU fund, US jobless claims, and coronavirus cases are all eyed. Thursday’s four-hour chart is pointing to overbought conditions. Investors seem to have fixed rose-tinted glasses to their faces – or see the shining glass half full. The increase in global…

GBP/USD has been advancing amid the new fiscal stimulus plan and the upbeat market mood. Concerns about coronavirus, Brexit, and the US labor market may slow sterling’s advance.  Thursday’s four-hour chart is pointing to overbought conditions. “Meal Deal, not a New Deal” – the opposition’s criticism against the scheme to grant a £10 voucher for…

EUR/USD has been unable to rise amid uncertainty about eurozone fiscal and monetary support.  US coronavirus cases tend to rise on Wednesdays, potentially dampening the mood. Wednesday’s four-hour chart is showing uptrend support is getting close. A one-two punch against EUR/USD? The world’s most popular currency pair failed to recover – despite an improvement in…

EUR/USD has been edging lower amid coronavirus and geopolitical concerns.  Uncertainty about EU fiscal stimulus and US COVID-19 statistics are eyed. Wednesday’s four-hour chart is showing uptrend support underpinning the pair. Is the downside correction over? The common currency has been giving some ground as stocks retreated and the dollar clawed back some of its…

GBP/USD has been rising amid hopes for UK fiscal stimulus and high-level Brexit talks. Chancellor Sunak’s speech, US coronavirus figures, and geopolitical tensions around HongKong are eyed.  Wednesday’s four-hour chart is painting a bullish picture.  Sunak is starting with the young – a job placement plan for around 350,000 18-24 year-olds is at the center…

EUR/USD has been edging lower as Chinese-inspired market enthusiasm wanes. Concerns about US coronavirus cases may return to the forefront after the “weekend effect” Eurozone data has been failing to impress in recent days. Tuesday’s four-hour chart is pointing to a triple top. Correction after hitting a near two-week high? EUR/USD’s upward path may be…

GBP/USD is under pressure as global markets curb their enthusiasm. The UK government’s lackluster green stimulus and PM Johnson’s latest comments are weighing on the pound. Tuesday’s four-hour chart is showing that cable is capped under downtrend resistance.  “Too many care homes didn’t really follow the procedures in the way that they could have” –…