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
Oil - US Crude
Wall Street
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
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 1.31% Oil - US Crude: 0.90% Gold: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LKcIsCQeTg
  • #DAX30, #dowjones : la reapertura económica lidera los avances #trading https://t.co/GoI9cOuD9A
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.28% 🇦🇺AUD: 1.17% 🇬🇧GBP: 1.01% 🇪🇺EUR: 0.57% 🇨🇭CHF: 0.35% 🇯🇵JPY: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eMQxa6E4eU
  • Coming up at half past the hour: my weekly webinar on market #sentiment. Do join me if you can. You can sign up here: https://www.dailyfx.com/webinars/181540619?ref-author=essex&CHID=9&QPID=917711
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 1.67% Wall Street: 0.90% Germany 30: 0.89% US 500: 0.65% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/5LHY5FmIF9
  • Missed today's #AUDUSD weekly outlook webinar? See the recording here - https://t.co/I6VTWPtUwc
  • Canadian Dollar Forecast: USD/CAD Price- Ready to Edge Lower? More details in the link: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/05/26/Canadian-Dollar-Forecast-USDCAD-Price-Ready-to-Edge-Lower-MK.html?CHID=9&QPID=917714 https://t.co/eTYFyolGbV
  • Vaccine hopes, a Franco-German recovery package proposal, and a Fed that is committed to provide further liquidity has taken some of the shine off the safe-haven US Dollar.Get your market update from @JMcQueenFX here:https://t.co/GeN07sifc0 https://t.co/r8RTJC8bBG
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/3XSyQQShxq
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/rpZihwpSS1
Pound Finds Strength on the Back of Record Equity Highs

Pound Finds Strength on the Back of Record Equity Highs

2013-04-11 09:54:00
Benjamin Spier, Technical Strategist

Watching American equities over the past few weeks has made me want to put on a party hat and blow horns at the close of the markets everyday. This risk-on energy seems to have only strengthened since yesterday, when the S&P reached record highs.

The risk appetite continued in to today’s European session, as risk correlated equities like the Aussie, Kiwi, and Pound all reached significant highs against the US Dollar. European equity indexes are also trading higher at the time of this writing.

Possibly benefiting from today’s optimism, Italy sold 2016, 2017, and 2028 bonds today for lower yields, despite the political uncertainty following the recent Italian elections. The sale of 2016 government bonds brought in a 2.29% yield, down from the 2.48% yield in March.

Also today, the ECB said in its monthly report that it expects a gradual recovery in the second half of the year, but risk to the outlook is to the downside. The comments reflected Draghi’s comments following the central bank meeting this month and therefore did not have a significant effect on Forex markets.

In other economic release, German annual inflation was confirmed at a two year low of 1.4% in March. The release was unchanged from a previous estimate and therefore had little effect on Euro trading.

The Pound seems to have been benefitting from the risk trends more than the Euro during the European session. Cable set a new seven week high at 1.5378 today, and resistance might next be seen at 1.5419, by the 38.2% retracement of the decline from the January high to the March low. Support might now be provided by the broken resistance line around 1.5250.

(Did you understand all the terms used in today’s report? If so, test your skills with DailyFX’s Trading IQ Quiz.)

GBPUSD Daily: April 11, 2013

Pound_Finds_Strength_on_the_Back_of_Record_Equity_Highs_body_gbpusd.png, Pound Finds Strength on the Back of Record Equity Highs

Chart created by Benjamin Spier using Marketscope 2.0

--- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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


News & Analysis at your fingertips.