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
EUR/USD
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
Gold
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
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
British Pound Looks to UK GDP Data to Inform BOE Rate Hike Bets

British Pound Looks to UK GDP Data to Inform BOE Rate Hike Bets

2015-10-27 05:42:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

  • British Pound May Be More Responsive to Upbeat vs. Soft 3Q UK GDP Print
  • Yen Rose, Commodity Dollars Declined Amid Risk Aversion in Asian Trade
  • See Economic Releases Directly on Your Charts with the DailyFX News App

Third-quarter UK GDP figures headline the economic calendar in European trading hours. The year-on-year growth rate is expected to register at 2.4 percent, matching the two-year low recorded in the three months through June.

Traders will look to the outcome to guide Bank of England monetary policy expectations. As it stands, market expectations are already leading dovish. Futures pricing suggests investors do not expect tightening until the third quarter of 2016. That suggests the British Pound may be more sensitive to an upside surprise versus a disappointing one.

The safety-linked Japanese Yen outperformed while the risk-geared Australian, Canadian and New Zealand Dollars declined as sentiment soured in overnight trade. The MSCI Asia Pacific regional benchmark stock index declined in a move that seemed corrective after prices hit a two-month high yesterday.

Knock-on weakness from Wall Street – which saw a similar pullback from levels unseen since August – may have also played a role. The proximity of high-profile event risk headlined by the FOMC policy announcement has probably encouraged the retracement.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Trade Balance (NZ$) (SEP)

-1222M

-825M

-1079M

21:45

NZD

Exports (NZ$) (SEP)

3.69B

3.9B

3.71B

21:45

NZD

Imports (NZ$) (SEP)

4.91B

4.78B

4.79B

21:45

NZD

Trade Balance 12 Mth YTD (NZ$) (SEP)

-3235M

-2846M

-3372M

22:30

AUD

ANZ Roy Morgan Weekly Consumer Conf

113.4

-

113.3

23:50

JPY

PPI Services (YoY) (SEP)

0.6%

0.6%

0.8%

01:30

CNY

Industrial Profits (YoY) (SEP)

-0.1%

-

-8.8%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

07:00

CHF

UBS Consumption Indicator (SEP)

-

1.63

Low

09:00

EUR

Eurozone M3 Money Supply (YoY) (SEP)

5.0%

4.8%

Low

09:30

GBP

GDP (QoQ) (3Q A)

0.6%

0.7%

High

09:30

GBP

GDP (YoY) (3Q A)

2.4%

2.4%

High

09:30

GBP

Index of Services (MoM) (AUG)

0.2%

0.2%

Low

09:30

GBP

Index of Services (3M/3M) (AUG)

1.0%

0.8%

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0880

1.0959

1.1009

1.1038

1.1088

1.1117

1.1196

GBPUSD

1.5195

1.5271

1.5311

1.5347

1.5387

1.5423

1.5499

--- 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

News & Analysis at your fingertips.