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
Subscribe
Please try again
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
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/cXImPrjl8x
  • Crude Oil Forecast: Oil Prices Edge Lower Toward Trend Support -via @DailyFX WTI #CrudeOil closed the week slightly higher on balance, but the commodity is struggling at resistance as bears look to challenge trend support. Link to Full Analysis: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/05/08/crude-oil-forecast-oil-prices-edge-lower-toward-trend-support.html #OOTT https://t.co/MvtP36QxY8
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/3f5sLijsVB
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/PO93mIKAZP
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/CHE6IOq3K5
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/Agl1q6EQyu
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/UmubxiDXGc
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/e4G1gTGhex
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/pS48NIuwqX
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/gFVVZTGbe1
Brexit Briefing: GBP Rallies as Brexit Reality Nears

Brexit Briefing: GBP Rallies as Brexit Reality Nears

Nick Cawley, Strategist

Talking Points

- GBPUSD hits a 7-week high.

- Brexit looms but EU guidelines may take some time to be announced.

- 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.

UK PM Theresa May will inform European Commission President Donald Tusk that the UK is leaving the single-bloc on Wednesday, triggering a potentially traumatic two years, or more, of claim, counter-claim and legal wrangling. Tusk is expected to issue the EU’s guidelines for the talks by the end of this week. And according to a recent report by Politico, the EU’s draft negotiating document will be ready for final consultation by April 19. EU ministers will then meet on April 27 before national leaders meet at a meeting on April 29 to ratify the document.

Despite this volatile backdrop for the British Pound, the UK currency pushed ahead Monday, aided by a weak USD complex, and boosted by a better-than-expected economic backdrop which has agitated the hawks on the MPC. And the hawkish members may have more reason to push for higher rates this Friday with the first look at the fourth-quarter UK current account expected to show that the balance of payment deficit has narrowed further due to the ongoing weakness of GBP.

And the recent move higher in Sterling may have caught some traders out with the latest CFTC Commitment of Traders Report showing short sterling positions have risen to multi-year high levels.

Chart: GBPUSD One-Day Timeframe (December 28, 2016 – March 27, 2017).

Brexit Briefing: GBP Rallies as Brexit Reality Nears

Chart by IG

Upcoming GBP Event Risk

Events

Date, Time (GMT)

Forecast

Previous

UK M4 Money Supply M-o-M (Feb)

March 29, 0930 GMT

0.90%

UK GfK Consumer Confidence Survey (Mar)

March 30, 2301 GMT

-7

-6

UK Gross Domestic Product Y-o-Y Q4

March 31, 0930 GMT

2.0%

2.0%

Markets

Index / Exchange Rate

Change (Exchange Hours/GMT Session Rollover)

Market Close/Last

FTSE 100

-0.90%

7,270.00

DAX

-1.02%

11,944

GBP/USD

0.93%

1.25905

EUR/USD

0.78%

1.0885

EUR/GBP

-0.15%

0.86445

--- 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