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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
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
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
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
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.08% 🇨🇭CHF: -0.00% 🇨🇦CAD: -0.05% 🇦🇺AUD: -0.61% 🇳🇿NZD: -0.64% 🇬🇧GBP: -0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UMdcR4ZNnz
  • Canadian ban on passenger flights arriving from India and Pakistan will last for 30 days - Reuters via BBG $CAD
  • Lumber has seen a meteoric rise over the last year, as demand for new homes remains strong and bottlenecks arising from COVID shutdowns continue to weigh on supply https://t.co/de4xc0t1BA
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.49% Gold: -0.57% Silver: -1.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/PvKjoyExIZ
  • Seasonal $USD performance over the last 10 years $USD $DXY https://t.co/X23oLOxewZ
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/tCamGDogVf
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.49%, while traders in Germany 30 are at opposite extremes with 69.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SAhyfFIUX0
  • Intel upside remains constrained by chip shortages and supply chain disruptions - CEO
  • Intel Q1 Earnings: Revs: $19.67B vs. est. $17.86B EPS: $1.39 vs. est. $1.15 $INTC
  • Gold Price Outlook: Are Gold Bulls Back in the Driver's Seat? https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2021/04/22/gold-price-outlook-are-gold-bulls-back-in-the-drivers-seat.html $Gold
British Pound Drops as Scotland's Sturgeon Threatens UK PM May

British Pound Drops as Scotland's Sturgeon Threatens UK PM May

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Pound drops as Scotland’s Sturgeon threatens PM May on EU transition deal
  • US Dollar broadly higher as tax cut prospects boost Fed rate hike speculation
  • What do retail traders’ trade calls say about FX market trend? Find out here

The British Pound underperformed in Asia Pacific trade. The move came after Scotland First Minister Nicola Sturgeon said she will ask UK Prime Minister Theresa May to formally say if the government is pursuing a transition deal phasing out current EU rules for a further two years after Brexit.

Pursuing such a deal is a source of division between hardline Brexiteers and a more EU-friendly camp within the cabinet and answering Ms Sturgeon’s query would force May to choose a side. Presumably, this would translate into a major reshuffle that might throw negotiations ever-more off course.

Sturgeon even offered a cryptic threat, seemingly to pre-empt any delay tactics that the Prime Minister might employ. She said “we will start to see really regrettable things happening” if there isn’t clarity on the transition by year-end. It is unclear what this might mean in practice, but the ominous tone was not unnoticed.

The US Dollar continued to rise as hopes for inflationary tax cuts brightened, hinting that the Fed may be pushed into a steeper rate hike cycle than previously expected. The priced-in 2018 policy path implied in Fed Funds futures is now at its most hawkish in seven months.

This narrative may be encouraged further if third-quarter US GDP data beats consensus forecasts. Such an outcome would echo steady improvement in realized US data outcomes relative to expectations since mid-June. Analysts envision a downtick in the annualized growth rate, from 3.1 to 2.6 percent.

See our guide to help integrate economic news flow into your FX trading strategy.

Asia Session

British Pound Drops as Scotland's Sturgeon Threatens UK PM May

European Session

British Pound Drops as Scotland's Sturgeon Threatens UK PM May

** All times listed in GMT. See the full DailyFX economic calendar here.

--- 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