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
Wall Street
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
More View more
Real Time News
  • $ES from resistance to support now at the weekly low, testing a few different support elements here, also a 618 $SPX https://t.co/cchd5Rr92S https://t.co/G9jwiIlEjY
  • The $SPX is going to keep it interesting for us through this final trading session. The 50-day SMA is under strain, its 'quad witching' today, evergreen uncertainty over weekend and FOMC on the threat radar https://t.co/gLgVn8u6HJ
  • The S&P 500 and its counterparts are leaning into support as the end of the week nears. DailyFX's @JohnKicklighter discusses the possibility of a break before next week's FOMC and Evergrande deadline! https://t.co/R5Pr9k2xp8
  • You're Not The Only One Bored Of 'New' Apple iPhones https://t.co/T3ZXZ8wplw via @IBDinvestors
  • $USDCAD big test, right at the Sept. high https://t.co/D9baX3BGXf https://t.co/Sg2ySGIIY8
  • just about an hour later $USDCAD https://t.co/D9baX3BGXf https://t.co/B0c71AkZTl
  • Hedging Evergrande (3333 HK) is reportedly a near impossible task
  • Given there is a substantial risk from China's Evergrande situation with a possible technical default at the start of next week, I'll be watching Bitcoin as a 'risk' measure over the weekend. Here versus SPX as Shanghai Comp is 'tended to' https://t.co/OoudsWHFPy
  • The latest batch of US economic data suggests the economy is weathering delta variant concerns, increasing odds for a Fed taper announcement shortly. Get your market update from @CVecchioFX here:https://t.co/aioT8UU4IJ https://t.co/BhMSqkkV0E
  • $USD support hold at higher low $DXY now breakout after U of Mich Focus now shifts to the Fed for next week's rate decision. Quarterly meeting, so also getting an updated dot plot matrix and SEP https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/09/17/USD-price-action-us-dollar-rallies-to-sept-high-focus-shifts-to-the-Fed.html https://t.co/oJdrBqBkfp https://t.co/EsSn4XEB1g
British Pound Seems Biased Upward on BOE Inflation Report

British Pound Seems Biased Upward on BOE Inflation Report

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • British Pound seems biased upward on Bank of England Inflation Report
  • Aussie Dollar drops as consumer inflation outlook drops to 11-month low
  • Yen down, Nikkei higher after dovish comments from BOJ Gov. Kuroda

All eyes are on the Bank of England as traders eagerly look to comb through an updated Quarterly Inflation Report for clues about officials' views on the likely policy implications of June’s referendum on the UK’s continued membership in the European Union.

An ominous tone may be seen as likely to influence voters to opt forstaying within the EU, which may boost the British Pound. Rhetoric suggesting the central bank does not see the poll as a major factor in shaping near-term rate hike chances could produce similarly GBP-supportive conditions.

A significant “Brexit” risk premium is probably priced in at this point. This means the BOE would need to explicitly link a vote to leave the EU with a dovish policy turn to trigger outsized Sterling weakness. Such a scenario seems unlikely in that it risks significantly politicizing the Bank, hurting its credibility.

The Australian Dollar underperformed in overnight trade after a gauge of consumer inflation expectations hit an 11-month low, stoking RBA rate cut speculation. As it stands, traders price in a 22 percent probability of a 25 basis point cut at next month’s meeting.

The Yen declined while Japan’s Nikkei 225 stock index traded higher following dovish comments from Bank of Japan Governor Haruhiko Kuroda. The central bank chief stressed policymakers’ readiness to boost stimulus and warned that tightening may not occur within his tenure.

Are FXCM traders buying or selling the British Pound? Find out here!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:30

NZD

BusinessNZ Manufacturing PMI (APR)

56.5

-

54.7

22:45

NZD

Food Prices (MoM) (APR)

0.3%

-

0.5%

23:01

GBP

RICS House Price Balance (APR)

41%

35%

42%

23:50

JPY

BOJ Summary of April 2016 Meeting

-

-

-

23:50

JPY

BoP Current Account Balance (MAR)

¥2980.4b

¥2965.6b

¥2434.9b

23:50

JPY

BoP Current Account Adjusted (MAR)

¥1893.6b

¥1910.0b

¥1686.6b

23:50

JPY

Trade Balance BoP Basis (MAR)

¥927.2b

¥906.7b

¥425.2b

23:50

JPY

Bank Lending Incl Trusts (YoY) (APR)

2.2%

-

2.0%

23:50

JPY

Bank Lending Ex-Trusts (YoY) (APR)

2.2%

1.9%

2.0%

1:00

AUD

Consumer Inflation Expectation (MAY)

3.2%

-

3.6%

1:00

JPY

BOJ's Kuroda at Parliament Committee

-

-

-

1:30

AUD

Credit Card Balances (MAR)

A$51.8b

-

A$51.9b

1:30

AUD

Credit Card Purchases (MAR)

A$25.5b

-

A$25.2b

2:00

JPY

Tokyo Avg Office Vacancies (APR)

4.23

-

4.34

4:30

JPY

Bankruptcies (YoY) (APR)

-7.08%

-

-13.15%

5:00

JPY

Eco Watchers Survey Current (APR)

43.5

44.0

45.4

5:00

JPY

Eco Watchers Survey Outlook (APR)

45.5

46.2

46.7

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

6:00

EUR

German Wholesale Price Index (MoM) (APR)

0.3% (A)

0.3%

Low

6:00

EUR

German Wholesale Price Index (YoY) (APR)

-2.7% (A)

-2.6%

Low

6:45

EUR

France CPI - EU Harmonized (MoM) (APR F)

0.1% (A)

0.1%

Low

6:45

EUR

France CPI - EU Harmonized (YoY) (APR F)

-0.1% (A)

-0.1%

Low

6:45

EUR

France CPI (MoM) (APR F)

0.1% (A)

0.1%

Low

6:45

EUR

France CPI (YoY) (APR F)

-0.2% (A)

-0.2%

Low

6:45

EUR

France CPI Ex-Tobacco Index (APR)

100.09 (A)

100.02

Low

9:00

EUR

Eurozone Industrial Production (MoM) (MAR)

0.0%

-0.8%

Medium

9:00

EUR

Eurozone Industrial Production (YoY) (MAR)

0.9%

0.8%

Medium

11:00

GBP

Bank of England Bank Rate

0.50%

0.50%

High

11:00

GBP

BOE Asset Purchase Target (MAY)

£375b

£375b

High

11:30

GBP

BOE's Carney Holds Press Conference

0.00%

-0.80%

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.1258

1.1336

1.1381

1.1414

1.1459

1.1492

1.1570

GBP/USD

1.4258

1.4351

1.4399

1.4444

1.4492

1.4537

1.4630

--- 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