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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.79% 🇳🇿NZD: 0.52% 🇬🇧GBP: 0.46% 🇪🇺EUR: 0.24% 🇯🇵JPY: 0.09% 🇨🇭CHF: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3TmObf8qMo
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.39%, while traders in US 500 are at opposite extremes with 75.15%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wjEN7NrhgH
  • #USDKRW down with the pair trading just within the range of the uptrend. Do you think it will break this week? https://t.co/FvyNYJy701
  • Forex Update: $USD continues to weaken against its major counterparts, led by $AUD (+0.86%), while $JPY lags behind (+0.11%). https://t.co/5wayEueKCi
  • GBP/USD: cluster of recent lows around the 1.2160 level and the Tuesday’s low print at 1.2190 may act as the first level of support for the pair. Get your $GBPUSD technical analysis from @nickcawley1 here:https://t.co/yvGzi5hoQw https://t.co/9qFx1oKZsE
  • Market snapshot: - US equity futures pointing lower while #AUD and #NZD are trading higher vs USD and JPY
  • Heads Up:🇰🇷 Markit Manufacturing PMI due at 00:30 GMT (15min) Previous: 41.6 https://www.dailyfx.com/economic-calendar#2020-06-01
  • #USD, $GBP, EUR & AUD Brace for Cross-Continental Political Peril ⬇️ https://www.dailyfx.com/forex/fundamental/article/special_report/2020/06/01/USD-GBP-EUR--AUD-Brace-for-Cross-Continental-Political-Peril.html
  • 🇰🇷 Exports YoY Actual: -23.7% Expected: -22.1% Previous: -25.1% https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇰🇷 Balance of Trade Actual: $0.44B Previous: $-1.4B https://www.dailyfx.com/economic-calendar#2020-06-01
Brexit Briefing: British Pound Regains its Poise as UK PM Speaks at Davos

Brexit Briefing: British Pound Regains its Poise as UK PM Speaks at Davos

2017-01-19 12:00:00
Nick Cawley, Strategist
Share:

Talking Points

- UK to become a champion for free trade says UK PM May.

- UK house prices unaffected by Brexit, long-term sentiment improves.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

Speaking at the World Economic Forum at Davos, PM Theresa May set out her vision for the UK to become a role model for free trade in the post-Brexit era. The PM told politicians and business heads in Switzerland that Britain will step up to a new leadership role as the strongest and most forceful advocate for free markets and free trade anywhere in the world.” PM May also emphasised that she wanted Europe to be strong and succeed and that she will push for a bold and ambitious trade agreement between the UK and the EU.

PM May added that the UK had already begun trade discussions with Australia, India and New Zealand among others, talks confirmed by International Trade Secretary Liam Fox in an article in Thursday’s Daily Telegraph. Mr Fox said that ministers had already begun informal trade negotiations with 12 countries including China, India, Saudi Arabia and Oman.

While the PM has set out the government’s global vision, she may need now to concentrate on domestic dealings with a raft of UK-based banks making noises in the last couple of days about moving parts of their existing operations out of the City of London. HSBC said that it would look to relocate around 1000 bankers while UBS said that the same number would be affected if the UK loses its passporting rights. And according to an article in German newspaper Handelsblatt, Goldman Sachs is looking at reducing its headcount in the City from 6,000 to 3,000, with 1,000 of those employees moving to Frankfurt.

In other domestic news, UK house prices seem to be holding steady, defying fears of a post-Brexit meltdown, according to the latest RICS report. While the new buyer enquiries balance slipped to 7% in December from 12% in November, the balance of surveyors expecting higher house prices a year ahead rose from 39.9% in November to 48.7% in December.

The British Pound perked up in European hours with GBPUSD trading back around 1.2320 while the EURGBP held steady at 0.86490.

Chart: GBPUSD 1-Minute Timeframe (18-19 January 2017).

Brexit Briefing: British Pound Regains its Poise as UK PM Speaks at Davos

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Don't trade FX but want to learn more? Read the DailyFX Trading Guides.

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

DISCLOSURES

News & Analysis at your fingertips.