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
Bullish
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
Bullish
Gold
Mixed
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
Bearish
More View more
Real Time News
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/fA7G42tGcH
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkd4B0k https://t.co/8cM3NQIvom
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/tEpCHQDoVW
  • A punny excerpt: “Already the exchanges between Mr. Barnier and his counterpart David Frost, have – apropos to his name – sent a chilling message about bilateral trade talks”. https://t.co/OkFCvUZs2H
  • #BritishPound May Fall on #Virus-Hit GDP Data, #Brexit Stalemate ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2020/08/08/British-Pound-May-Fall-on-Virus-Hit-GDP-Data-Brexit-Stalemate.html
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/BuFKivwj2h
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/QXaLbmFSjd
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
Brexit Briefing: Politics Take a Back Seat to Economic Data

Brexit Briefing: Politics Take a Back Seat to Economic Data

2017-02-14 15:23:00
Nick Cawley, Strategist
Share:

Talking Points

- The British Pound gave back recent gains after January inflation data miss.

- UK Brexit Minister says end of March still aim for triggering Article 50.

- 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.

The British Pound edged lower against both the USD and the EUR Tuesday after the latest UK inflation print failed to meet analysts’ expectations. CPI rose 1.8% year/year in January, missing expectations of a rise to 1.9%, while core inflation remained unchanged at 1.6%, against expectations of 1.7%. And in a quiet day for UK political news, GBP actually moved on the data although the losses were relatively modest.

In slightly better news for UK home owners, official figures also released today by the ONS showed that post-Brexit fears of a crash in the UK property market have failed to materialize. Data showed that the average house price rose by 1.4% in December, beating expectations of a 1% rise, while on an annual basis house price growth accelerated by 7.1%, up from 6% in November. According to analysts this move was consistent with recent strong monthly figures from lenders Nationwide and Halifax.

Ahead of next week’s House of Lords debate on Article 50, the government reiterated the timetable for starting the process to leave the European Union.

Speaking at a press conference in Helsinki, UK Brexit Minister David Davis said that he still expects Article 50 to be triggered by the end of March, pushing back reports of an earlier departure date. Recent commentary centered around UK PM Theresa May beginning divorce procedures at the start of a two-day European Council meeting starting on March 9.

“The 9th or 10th is not a date I recognise in terms of our timetable. What we have said is by the end of March; sometime during March,” Davis said.

The Brexit Minister was meeting Finland’s Foreign Minister Timo Soini, who indicated that he favored a friendly Brexit, saying that he wanted an outcome that was good for both the UK and the European Union. These words were in sharp contrast to recent commentary voiced by Austria’s Chancellor Christian Kern, who said the UK must suffer when it leaves the 28-nation bloc.

“A member of a club must have better conditions than somebody who isn't a member of this club – our British friends must be aware that nothing else can come out of these negotiations,” he said, adding, “Everything else would be a capitulation by Europe.”

Article 50 – Timeline

Feb. 20 - House of Lords is scheduled to begin its scrutiny process with a two-day debate.

Feb. 27 and Mar. 1 - Lords due to begin ‘Committee stage’ of legislation, during which amendments will be discussed and may be voted upon.

Mar. 7 - Lords debate final wording of Bill and may vote on further amendments.

- After this stage, if the Bill has been amended by the Lords, these amendments will be passed to the lower chamber for approval. The Bill can be passed back and forth until they agree.

- Once approved by both houses, it will go on to receive ‘Royal Assent’ and officially become law.

Chart: EURGBP 15-MinutesTimeframe (February 14, 2017)

Brexit Briefing: Politics Take a Back Seat to Economic Data

Chart by IG

Upcoming GBP Event Risk

Events

Date, Time (GMT)

Forecast

Previous

UK Consumer Price Inflation

February 14, 0900 GMT

1.9%

1.6%

UK Claimant Count rate

February 15, 0930GMT

2.3%%

2.3%

UK Retail Sales (Jan y-o-y)

February 17, 0930GMT

3.9%

4.9%

Markets

Index / Exchange Rate

Change (Exchange Hours/GMT Session Rollover)

Market Close/Last

FTSE 100

0.52%

7,297.00

DAX

1.12%

11,798

GBP/USD

0.02%

1.2492

EUR/USD

-0.35%

1.0603

EUR/GBP

-0.38%

0.8487

--- 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.

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.