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
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
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
Mixed
More View more
Real Time News
  • (Weekly Technical Outlook) US Dollar Outlook, Key Trend Reversals Playing Out? USD/CAD, AUD/USD, EUR/USD, GBP/USD #USD $USDCAD $AUDUSD $EURUSD $GBPUSD https://www.dailyfx.com/forex/technical/article/special_report/2021/06/20/US-Dollar-Outlook-Key-Trend-Reversals-Playing-Out-USDCAD-AUDUSD-EURUSD-GBPUSD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/7C56bfljV4
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/Gea69MhO04
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/oPaSJLahbE
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/bFOK9RRXtv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/LIumDnHrTo
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/ITdDUGoAL0
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/eF0XS79LgK
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/gaYbbaTnpb
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/HCvzbjEkr6
  • Get our analysts’ view on the key fundamentals for indices in Q2. Download now. https://t.co/Etdyanp76f https://t.co/n2wxfyMsJt
Pound May Rise if Wage Inflation Pickup Boosts BOE Rate Hike Bets

Pound May Rise if Wage Inflation Pickup Boosts BOE Rate Hike Bets

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Pound May Rise if Wage Inflation Pickup Bolsters BOE Rate Hike Outlook
  • More BOE, ECB Commentary in Focus as Traders Ponder Policy Trends
  • See Economic News Directly on Your Charts with the DailyFX News App

UK Jobless Claims figures headline the economic data docket in European trading hours. An increase of 1.4k is expected, marking a narrow improvement from the 4.6k rise in the prior month. The headline figure carries relatively limited implications for BOE policy bets however and traders will likely Average Earnings numbers far more interesting.

The pace of wage inflation is expected to rise to 3.2 percent, marking the third consecutive acceleration. A higher-than-expected outcome may hint that building domestic price pressures will be able to overcome external disinflationary forces from soft oil prices and a stronger currency. That could bolster rate hike expectations, sending the British Pound higher. A soft result could be seen as delaying tightening and weigh on the UK unit.

Meanwhile, another busy round central bank commentary will see investors combing through the rhetoric for near-term policy clues. Remarks from BOE Governor Mark Carney along with Deputy Governors Bailey, Shafik and Cunliffe may help shape tightening timeline expectations. Meanwhile, comments from ECB President Mario Draghi as well as policymakers Constancio and Hansson may help inform bets on possible routes for stimulus expansion at next month’s meeting.

Losing Money Trading Forex? This Might Be Why.

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:30

AUD

Westpac Consumer Conf Index (NOV)

101.7

-

97.8

23:30

AUD

Westpac Consumer Conf SA (MoM) (NOV)

3.9%

-

4.2%

23:50

JPY

Money Stock M2 (YoY) (OCT)

3.6%

3.8%

3.8%

23:50

JPY

Money Stock M3 (YoY) (OCT)

2.9%

3.1%

3.1%

05:30

CNY

Retail Sales (YoY) (OCT)

11.0%

10.9%

10.9%

05:30

CNY

Retail Sales YTD (YoY) (OCT)

10.6%

10.6%

10.5%

05:30

CNY

Industrial Production (YoY) (OCT)

5.6%

5.8%

5.7%

05:30

CNY

Industrial Production YTD (YoY) (OCT)

6.1%

6.2%

6.2%

05:30

CNY

Fixed Assets Ex Rural YTD (YoY) (OCT)

10.2%

10.2%

10.3%

06:00

JPY

Machine Tool Orders (YoY) (OCT P)

-23.1%

-

-19.1%

06:00

CNY

Bloomberg Monthly GDP Estimate (YoY) (OCT)

6.57%

-

6.55%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

09:30

GBP

Claimant Count Rate (OCT)

2.3%

2.3%

Medium

09:30

GBP

Jobless Claims Change (OCT)

1.4k

4.6k

High

09:30

GBP

Average Weekly Earnings (3M/YoY) (SEP)

3.2%

3.0%

Medium

09:30

GBP

Weekly Earnings ex Bonus (3M/YoY) (SEP)

2.6%

2.8%

Medium

09:30

GBP

ILO Unemployment Rate 3Mths (SEP)

5.4%

5.4%

Medium

09:30

GBP

Employment Change (3M/3M) (SEP)

120k

140k

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0543

1.0632

1.0678

1.0721

1.0767

1.0810

1.0899

GBPUSD

1.5011

1.5065

1.5092

1.5119

1.5146

1.5173

1.5227

--- 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