News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in EUR/GBP are at opposite extremes with 67.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vQ8iSnCFKO
  • Heads Up:🇮🇹 Consumer Confidence (SEP) due at 08:00 GMT (15min) Expected: 100.8 Previous: 100.8 https://www.dailyfx.com/economic-calendar#2020-09-25
  • Heads Up:🇮🇹 Business Confidence (SEP) due at 08:00 GMT (15min) Expected: 87.5 Previous: 86.1 https://www.dailyfx.com/economic-calendar#2020-09-25
  • Heads Up:🇪🇺 European Council Special Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-25
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.55% Gold: 0.38% Silver: 0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VJ7UpG5FrK
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.64% 🇦🇺AUD: 0.51% 🇬🇧GBP: 0.40% 🇯🇵JPY: 0.10% 🇨🇭CHF: 0.07% 🇪🇺EUR: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/QAhXdDRIfi
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.49% US 500: 0.42% FTSE 100: 0.34% Germany 30: 0.28% France 40: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eQC60R71rR
  • $EURUSD Rates May Extend Slide Lower on #Covid_19 #SecondWave Fears ⬇️ https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/09/25/EURUSD-Rates-May-Extend-Slide-Lower-on-Covid-19-Second-Wave-Fears-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/eWYXYmWLPm
  • 🇬🇧 Public Sector Net Borrowing (AUG) Actual: £-35.2B Expected: £-35.1B Previous: £-15.44B https://www.dailyfx.com/economic-calendar#2020-09-25
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/oqbtFfeo4K
GBP Strength Pre-FOMC As Traders Question BoE’s Long-Term Plan

GBP Strength Pre-FOMC As Traders Question BoE’s Long-Term Plan

2017-10-31 19:00:00
Tyler Yell, CMT, Currency Strategist
Share:

Will they or won’t they? That is, will the Bank of England on Thursday signal subsequent hikes? The market is pricing in an 88% probability of a rate hike on Thursday. However, the anticipated volatility surrounds whether or not the BoE’s Mark Carney will provide the scenario where GBP/USD moves toward 1.3350 on a hawkish take-away (more hikes to come) or toward 1.2900 if Carney sounds a dovish tone (one-and-done.)

While Wednesday’s top event will technically be the Federal Reserve rate announcement (markets pricing in less than 1% probability of a move), all eyes are one day forward where US President Donald Trump is expected to appoint the next Fed chair. Current front-runner Jerome Powell is seen as a complement to the Yellen viewpoint, and Powell would not be seen rocking the boat of monetary policy. The market is pricing in an 85% chance of a rate hike in December, and after the FOMC chair nomination is made known, traders will likely look for ways to continue playing the USD rebound from the 2017 trend.

Interested in an AUD/USD trading idea, click here to access

As mentioned yesterday, traders should continue to keep an eye on commodity currencies that continue to sell-off. On Tuesday, New Zealand Prime Minister Jacinda Ardern said foreign speculators would no longer be able to buy NZ houses for speculative purposes, which adds to the political risk premium that has taken NZD down by 3.5% over the last month. On Tuesday, the Canadian Dollar also weakened after GDP missed estimates.

Access our trading guides to help you develop your trading strategy

Strong/ Weak Index October 31, 2017

GBP Strength Pre-FOMC As Traders Question BoE’s Long-Term Plan

Chart created by Tyler Yell, CMT

Interested in DailyFX’s FREE longer-term price forecasts? Click here to access

IGCS Highlight:GBP strength may arise as ST retail bearishness is on the rise

GBP Strength Pre-FOMC As Traders Question BoE’s Long-Term Plan

GBPUSD: Retail trader data shows 53.0% of traders are net-long with the ratio of traders long to short at 1.13 to 1. The number of traders net-long is 12.7% lower than yesterday and 7.1% lower from last week, while the number of traders net-short is 12.5% higher than yesterday and 5.9% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long (emphasis mine.)

For a deeper explanation on what’s been shared above, please join the FX Closing Bell Webinar with Tyler Yell

---

Written by Tyler Yell, CMT, Currency Analyst & Trading Instructor for DailyFX.com

To receive Tyler's analysis directly via email, please SIGN UP HERE

Contact and discuss markets with Tyler on Twitter: @ForexYell

Access Our Free Market/ Trading Guides Here

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES