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
Bullish
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
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.81%, while traders in US 500 are at opposite extremes with 64.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SPC8zHzmsL
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/03nsLIFxVq
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.03% Silver: -0.06% Oil - US Crude: -0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bZOgkJeQnh
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.08% 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.04% 🇳🇿NZD: 0.02% 🇨🇦CAD: -0.14% 🇯🇵JPY: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tHXoCwSOYJ
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.15% Wall Street: 0.07% FTSE 100: -0.27% France 40: -0.32% Germany 30: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YnjjB4v35p
  • 🇫🇷 Consumer Confidence (SEP) Actual: 95 Expected: 94 Previous: 95 https://www.dailyfx.com/economic-calendar#2020-09-29
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/lBIEZWqJV3
  • Heads Up:🇫🇷 Consumer Confidence (SEP) due at 06:45 GMT (15min) Expected: 94 Previous: 94 https://www.dailyfx.com/economic-calendar#2020-09-29
  • EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Aug 31, 2020 when EUR/JPY traded near 126.39. A contrarian view of crowd sentiment points to EUR/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/1NGoTgKsbL
  • #CrudeOil and #Gold prices gained over the past 24 hours on US fiscal stimulus hopes Now they are awaiting a key meeting between Nancy Pelosi and Steven Mnuchin later today What are key technical levels to watch for? - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/09/29/Crude-Oil-Prices-Down-to-3-Month-Low-on-Fed-Policy-Seasonal-Turn.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/0nYq05le3s
Pound at Risk on Status-Quo BOE Minutes, US Dollar May Rise on CPI

Pound at Risk on Status-Quo BOE Minutes, US Dollar May Rise on CPI

2014-10-22 05:03:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • British Pound May Drop on Status-Quo Bank of England Meeting Minutes
  • US Dollar to Rise if September’s CPI Tops Forecasts, Boosting Fed Outlook
  • See Economic Releases Directly on Your Charts with the DailyFX News App

Minutes from October’s Bank of England policy meeting headline the economic calendar in European hours. The voting pattern on the rate-setting MPC committee will be in focus, with traders keen to see if the hawks were able to inch closer to securing enough voices in favor of a rate hike. The tally was 7-2 in support of the status quo in September.

On balance, UK economic news-flow deteriorated relative to consensus forecasts between the September and October sit-downs. Perhaps most significantly, September’s CPI data set showed the year-on-year inflation rate unexpectedly sank to 1.2 percent, the lowest since the post-crisis trough recorded five years prior. That suggests that an expansion of the pro-tightening contingent probably did not materialize.

Confirmation of as much may further undermine the probability of relatively sooner start to policy normalization in the minds of investors. Such a scenario bodes ill for the British Pound, which has broadly tracked a slide in front-end Gilt yields downward since early July.

Later in the day, the spotlight shifts to the US CPI report. The year-on-year inflation rate is expected to slow to 1.6 percent, the lowest since March. However, leading survey data warns that price growth accelerated, with factory-gate prices rising at the sharpest pace yet in 2014 and service-sector output costs reaching a five-month high. That opens the door for an upside surprise, which could help rebuild 2015 Fed rate hike expectations and boost the US Dollar.

Renewed fears of the relatively sooner onset of US policy tightening against a backdrop of swelling global slowdown fears may likewise undermine risk appetite amid fears that growth in North America will be insufficient to offset downturns in the Eurozone and China. That might put risk-geared currencies such the Australian and New Zealand Dollars under pressure while boosting safety-linked alternatives like the Japanese Yen.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:00

AUD

Conference Board Leading Index (AUG)

-0.2%

-

0.6%

23:30

AUD

Westpac Leading Index (MoM) (SEP)

-0.1%

-

-0.1%

23:50

JPY

Merch. Trade Balance Total (¥) (SEP)

-958.3B

-780.0B

-949.7B

23:50

JPY

Adjusted Merch. Trade Balance (¥) (SEP)

-1070.1B

-918.5B

-912.4B

23:50

JPY

Merchandise Trade Exports (YoY) (SEP)

6.9%

6.5%

-1.3%

23:50

JPY

Merchandise Trade Imports (YoY) (SEP)

6.2%

2.7%

-1.4%

00:00

AUD

Skilled Vacancies MoM (SEP)

0.5%

-

0.7%

00:30

AUD

CPI (QoQ) (3Q)

0.5%

0.4%

0.5%

00:30

AUD

CPI (YoY) (3Q)

2.3%

2.3%

3.0%

00:30

AUD

CPI Trimmed Mean (QoQ) (3Q)

0.4%

0.5%

0.7%

00:30

AUD

CPI Trimmed Mean (YoY) (3Q)

2.5%

2.7%

2.8%

00:30

AUD

CPI Weighted Median (QoQ) (3Q)

0.6%

0.5%

0.6%

00:30

AUD

CPI Weighted Median (YoY) (3Q)

2.6%

2.6%

2.6%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

8:30

GBP

Bank of England October Meeting Minutes

-

-

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2507

1.2632

1.2674

1.2757

1.2799

1.2882

1.3007

GBPUSD

1.5988

1.6062

1.6087

1.6136

1.6161

1.621

1.6284

--- 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