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
  • 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
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/nHXiNJhLes
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/h0TmJcZeqr
  • $USDCAD sold off aggressively last week, putting it into position to test the important 2017 low; trading bias is neutral to bearish. Get your market update from @PaulRobinsonFX here: https://t.co/sphxUAW9TB https://t.co/ZhsTeJOOM8
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/qP96xmgDVn
GBP/USD Rate May Rise as Japanese Yen Price Falls in Near-Term

GBP/USD Rate May Rise as Japanese Yen Price Falls in Near-Term

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

British Pound and Euro Advance Against the US Dollar

The British Pound and Euro advanced against the US Dollar as Monday’s trading session came to a conclusion. Their strength could be attributed to a slew of better-than-expected European economic data earlier in the day. Markit German Composite PMI showed that the country saw growth for the first time since the third quarter of last year. This is as similar rosy readings from Markit UK Composite PMI turned positive.

The haven-linked US Dollar understandably underperformed relatively speaking as market mood cautiously improved. Investors brushed off the threat of US-Iran geopolitical escalation for now. The anti-risk Japanese Yen met a similar fate as it gave up previous strength. Sentiment-linked crude oil prices turned defensive as supply disruption woes cooled off during the Wall Street trading session. Anti-fiat gold prices trimmed gains.

Tensions between the two nations still remain elevated and do pose a threat for market mood. Meanwhile at the Federal Reserve, usage at the central bank’s overnight repo agreement amounted to $76.9b of securities. That was the highest in just over one month, though short of the $120b ceiling. These open market operations offer near-term liquidity for lenders seeking additional capital in exchange for collateral and interest.

Tuesday’s Asia Pacific Trading Session

Tuesday’s Asia Pacific session is lacking notable economic event risk, placing the focus for forex on swings in sentiment. Regional bourses may follow Wall Street higher and could offer a boost to the pro-risk Australian Dollar as the Japanese Yen weakens. December Philippine inflation data will cross the wires at 1:00 GMT, though USD/PHP arguably remains more focused on risk trends.

British Pound Technical Analysis

Taking a closer look at the GBP/USD daily chart, the rise on Monday followed what appears to have been a top under resistance at 1.3304. It is unclear at this point yet if there is further strength to be had from GBP. Resuming declines entails taking out near-term rising support from November. Though signals from IG Client Sentiment are arguing for the case to the upside at the time of this writing.

Chart of the Day – GBP/USD

GBP/USD Daily Chart

Chart Created Using TradingView

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

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

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

DISCLOSURES