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. See our updated Privacy Policy here.

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
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
More View more
Real Time News
  • USD/MXN drops back into its recent range as investors await further guidance from economic data. Get your weekly Mexican Peso forecast from @HathornSabin here: https://t.co/reMgPrFGdF https://t.co/dl6gomcFxF
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0uF2Ct https://t.co/KS13JNwlvL
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/bxQ8s8eGjR
  • Australian Dollar plunged for a fifth week but held key downtrend support at the yearly lows. Get your weekly AUD technical forecast from @MBForex here: https://t.co/uyUWYQoYS7 https://t.co/BXid10FYD1
  • 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/eReyYRYOn1
  • Last week’s march higher in EUR/USD may well extend further after Friday’s Eurozone economic statistics that will likely turn the ECB more hawkish on monetary policy. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/EWrJy5LfOF https://t.co/NQj5xCdw9b
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/uDeIMr1Ks4
  • 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/srqRhfdKUd
  • Cable is pulling off after a strong run; near-term weakness may be the theme before trying to rally again. Get your weekly GBP technical forecast from @PaulRobinsonFX here: https://t.co/030gXzxlEc https://t.co/ux7W6OcBOm
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/FPKAoLQuuI
Dollar Vulnerable to Rebound in Sentiment on Firmer US Growth Hopes

Dollar Vulnerable to Rebound in Sentiment on Firmer US Growth Hopes

Ilya Spivak, Head Strategist, APAC

Talking Points

  • Euro Crisis Cues Sought as Merkel Meets with Draghi, Italy and Spain Sell Bonds
  • Dollar May Decline as Firmer US Economic Data Stocks Risk Appetite Recovery

A lackluster European economic data docket will keep investors’ eyes on Eurozone debt crisis management efforts. A meeting between German Chancellor Angela Markel and ECB President Mario Draghi is likely to warrant particular attention. No press briefing is scheduled but traders will keep a close eye on any sideline commentary.

German and Dutch Finance Ministers Wolfgang Schaeuble and Jan Kees de Jager are also due to discuss the crisis with their perennially euro-skeptic Finnish counterpart Jutta Urpilainen. Finally, Spain and Italy are due to tap the bond markets. Madrid will sell 77- and 168-day bills while Rome offers up 2014 zero-coupon paper as well as 2016 and 2021 inflation-linked bonds. Investors will look to average yields and bid-to-cover readings for signs of funding stress.

Later in the session, the spotlight turns to the US calendar, with September’s US Consumer Confidence reading and the Richmond Fed Manufacturing Indexon tap. Improvements are being forecast on both fronts. US data has increasingly outperformed expectations over recent weeks (according to data compiled by Citigroup). More of the same this time around may underpin risk appetite trends amid hopes that a firmer recovery in the US will offset a recession in Europe and a slowdown in Asia, weighing broadly on the greenback.

With that in mind, yesterday’s better-than-expected Dallas Fed print passed unnoticed, so follow-through may well prove absent again.Separately, Philadelphia Fed President Charles Plosser will give a speech on the economic outlook, though with renewed easing already underway it is unclear how much market-moving potential the remarks will carry. S&P 500 stock index futures are pointing modestly higher, signaling a cautiously risk-on disposition heading into the opening bell in Europe.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

Corporate Service Price (YoY) (AUG)

-0.3%

-0.3%

-0.3%

2:00

CNY

Conference Board Leading Economic Index (AUG)

240.4

-

236.4

5:00

JPY

Small Business Confidence (SEP)

45.1

-

44.8

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:00

EUR

German GfK Consumer Confidence Survey (OCT)

5.9

5.9

Medium

6:00

CHF

UBS Consumption Indicator (AUG)

-

1.55

Low

6:45

EUR

French Own-Company Production Outlook (SEP)

-

-6

Low

6:45

EUR

French Business Confidence Indicator (SEP)

89

90

Low

6:45

EUR

French Production Outlook Indicator (SEP)

-44

-44

Low

8:00

EUR

Italian Consumer Confidence Ind. sa (SEP)

86

86

Low

8:30

GBP

BBA Loans for House Purchase (AUG)

28100

28441

Medium

8:30

EUR

Spain to Sell 77- and 168-day Bills

-

-

Medium

9:00

EUR

Italian Hourly Wages (MoM) (AUG)

-

0.0%

Low

9:00

EUR

Italian Hourly Wages (YoY) (AUG)

-

1.5%

Low

9:00

EUR

Italy to Sell 2014 Zero-Coupon, 2016-21 I/L Bonds

-

-

Medium

11:30

EUR

Germany’s Merkel, ECB’s Draghi Meet in Berlin

-

-

Medium

12:30

EUR

Dutch, German and Finnish FinMins Meet in Vantaa

-

-

Medium

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2830

1.2992

GBPUSD

1.6183

1.6286

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES