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
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • China A50 Index, which exhibited little correlation with the US stock market in the past, rose more than 1% to 15,900. An immediate resistance level can be found at 16,000 (chart below). https://t.co/Zxsh0wUpV7
  • Wall Street Futures Update: Dow Jones (+1.125%) S&P 500 (+1.103%) Nasdaq 100 (+1.087%) [delayed] -BBG
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/7mYrLT7zcL
  • 🇯🇵 Consumer Confidence (OCT) Actual: 33.6 Previous: 32.7 https://www.dailyfx.com/economic-calendar#2020-10-29
  • Heads Up:🇯🇵 Consumer Confidence (OCT) due at 05:00 GMT (15min) Previous: 32.7 https://www.dailyfx.com/economic-calendar#2020-10-29
  • Fear has reared its ugly head this past session. Will a fire burn when for risk assets like the Dow even as attention is drawn forward to next week's Presidential election? I discuss my views in today's trading video: https://www.dailyfx.com/forex/video/daily_news_report/2020/10/29/Dow-and-Nasdaq-Enter-Technical-Corrections-Dollar-Plays-Safe-Haven-Ahead-of-GDP-and-FAANGs.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/KYexqG2pEa
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.86%, while traders in NZD/USD are at opposite extremes with 69.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yOLbxwOKhF
  • The Indian #Rupee may weaken following a breakout higher in $USDINR over the past 24 hours. Despite rising global stock market volatility, the #nifty50 has been holding its ground. Could it capitulate lower? - https://www.dailyfx.com/forex/technical/article/special_report/2020/10/29/Indian-Rupee-Nifty-50-Forecast-USDINR-Breakout-as-Volatility-Spikes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/GPQSQMvUsn
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.28% 🇨🇦CAD: 0.24% 🇬🇧GBP: 0.16% 🇨🇭CHF: 0.10% 🇪🇺EUR: 0.07% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YuqROnNqY7
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.95% Wall Street: 0.95% France 40: 0.56% Germany 30: 0.46% FTSE 100: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kACR087bkv
British Pound Looking to BOE Commentary to Fuel Recovery

British Pound Looking to BOE Commentary to Fuel Recovery

2014-09-10 05:29:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • British Pound Looking to BOE Commentary to Power a Corrective Recovery
  • Australian Dollar Tumbles on Soft Consumer Confidence Data, Risk Aversion
  • See Economic Releases Directly on Your Charts with the DailyFX News App

Commentary from Bank of England officials remains in focus in European trading hours. This time, BOE Governor Mark Carney will be joined by Deputy Governor Nemat Shafik and MPC committee members Martin Weale and David Miles in testimony before Parliament’s Treasury Select Committee on Augusts’ quarterly Inflation Report (QIR).

Mr. Carney argued in favor of an initial rate hike by spring of 2015 with gradual tightening thereafter in a speech in Liverpool yesterday. At least one of his colleagues also due to testify sees that as too dovish considering Mr. Weale was one of the two dissenting votes in favor of an August rate increase.

The British Pound paused to digest losses yesterday, ending a 5-day losing streak, as feverish fears of the looming Scottish Independence referendum cooled absent novel news-flow (as expected). If the cumulative tone of BOE officials’ rhetoric betrays a growing hawkish consensus, the UK unit may at last find fuel for a meaningful recovery.

The Australian Dollar turned sharply lower in overnight trade, falling as much as 0.5 percent on average against its leading counterparts. Selling pressure emerged against a backdrop of disappointing news-flow, with September’s Westpac Consumer Confidence index dropping 4.6 percent to register the first decline in four months.

A broader deterioration in risk appetite compounded downward pressure on the sentiment-linked Australian unit. The MSCI Asia Pacific benchmark regional stock index fell 0.6 percent in a move the news-wires labeled as follow-on from a rout on Wall Street, where the S&P 500 issued the largest daily drop in 5 weeks. We are looking for an opportunity to enter short AUDUSD.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

PPI (MoM) (AUG)

-0.2%

0.0%

0.4%

23:50

JPY

PPI (YoY) (AUG)

3.9%

4.1%

4.3%

23:50

JPY

Machine Orders (MoM) (JUL)

3.5%

4.0%

8.8%

23:50

JPY

Machine Orders (YoY) (JUL)

1.1%

0.5%

-3.0%

0:30

AUD

Westpac Consumer Conf Index (SEP)

94.0

-

98.5

0:30

AUD

Westpac Consumer Conf (MoM) (SEP)

-4.6%

-

3.8%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

13:45

GBP

BOE's Carney/Shafik/Weale/Miles Testify on QIR

-

-

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2724

1.2821

1.2879

1.2918

1.2976

1.3015

1.3112

GBPUSD

1.5914

1.6011

1.6058

1.6108

1.6155

1.6205

1.6302

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

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES