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
Bullish
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • 🇳🇴 Norges Bank Interest Rate Decision Actual: 0% Expected: 0% Previous: 0% https://www.dailyfx.com/economic-calendar#2020-09-24
  • 🇩🇪 Ifo Business Climate (SEP) Actual: 93.4 Expected: 93.8 Previous: 92.6 https://www.dailyfx.com/economic-calendar#2020-09-24
  • 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/HbVXBTslrS
  • SNB will detail FX interventions on a quarterly basis from September 30
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.66%, while traders in EUR/GBP are at opposite extremes with 64.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JxqLeQGhcS
  • Heads Up:🇳🇴 Norges Bank Monetary Policy Report due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:🇳🇴 Norges Bank Interest Rate Decision due at 08:00 GMT (15min) Expected: 0% Previous: 0% https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:🇩🇪 Ifo Business Climate (SEP) due at 08:00 GMT (15min) Expected: 93.8 Previous: 92.6 https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:🇪🇺 European Council Special Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:💶 ECB Economic Bulletin due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
British Pound Gains on Cross-Party Brexit Deal Path, JPY May Fall

British Pound Gains on Cross-Party Brexit Deal Path, JPY May Fall

2019-04-02 23:00:00
Daniel Dubrovsky, Analyst
Share:

Asia Pacific Market Open Talking Points

  • British Pound gained as Theresa May sought cross-party Brexit deal
  • Sentiment picked up, but not enough to reverse gains in Yen, Franc
  • Asia stocks may rise, AUD/JPY remains in limbo after bearish signs

Find out what the #1 mistake that traders make is and how you can fix it!

Key FX News Tuesday

The British Pound outperformed against its major counterparts on Tuesday on the latest Brexit developments. After having her EU-UK divorce deal rejected three times, following Parliament's failure for a second time to find a consensus on an alternative way forward for a withdrawal agreement, UK Prime Minister Theresa May conceded that she must work out a cross-party approach for reaching a deal.

This left the door open to a ‘soft Brexit’ after fears of a ‘no deal’ increased in recent days. Stocks on Wall Street got a slight boost in the aftermath of these developments having spent most of the time trading lower beforehand as anticipated. By the end of the session, the S&P 500 was unchanged from Monday’s close. Still, the damage had already been done at that point to currencies.

The pro-risk Australian and New Zealand Dollars aimed lower, with the former weighed down by an RBA rate decision that left a few small hints that it is keeping a close eye on developments that may pose a risk to their economic outlook. Meanwhile, the anti-risk Japanese Yen and Swiss Franc were some of the best-performing majors on Tuesday. Anti-fiat gold prices rose as the US Dollar fell when GBP gained.

Wednesday’s Asia Pacific Trading Session

Ahead, sentiment will be awaiting Chinese Caixin PMI services data after respective manufacturing outcomes improved earlier in the week. If the upbeat results echo into the next round of data, we may see some market optimism. We also had an update from US President Donald Trump, who said that trade talks with China are ‘going very well’. As such, we may see Asia Pacific stocks trade narrowly higher. This may bode ill for the Japanese Yen while the Australian and New Zealand Dollars rise.

AUD/JPY Technical Analysis

AUD/JPY is an interesting pair to watch for pure sentiment-based moves. The pair has been in limbo since breaking under an ascending triangle bearish formation. In the meantime, it has been trying to break above a near-term falling resistance line from February. For more timely updates on the Aussie and AUD/JPY, feel free to follow me on twitter here @ddubrovskyFX.

AUD/JPY Daily Chart

British Pound Gains on Cross-Party Brexit Deal Path, JPY May Fall

Chart Created in TradingView

US Trading Session Economic Events

British Pound Gains on Cross-Party Brexit Deal Path, JPY May Fall

Asia Pacific Trading Session Economic Events

British Pound Gains on Cross-Party Brexit Deal Path, JPY May Fall

** All times listed in GMT. See the full economic calendar here

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

https://www.dailyfx.com/free_guide-tg.html?ref-author=Dubrovsky

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

DISCLOSURES