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
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:https://t.co/ZNs4Qi8ieG https://t.co/UqZBBPZiOl
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/rChAkNqPL2
  • Long wick candles are recurrent within the forex market. This makes understanding the meaning behind these candles invaluable to any trader to comprehend the market dynamics during a specific period. Learn about the importance of extended wicks here: https://t.co/SIpslvhX0J https://t.co/jVxcE1QUBs
  • Safe haven stocks also allow traders to diversify their portfolio and reduce risk. Learn if safe-haven stocks are made for you here: https://t.co/MTc4tUDD6c https://t.co/DOQ6tyzep9
  • 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/WQLZ1X7gIY
  • but the next major point in my view to monitor will be 52.76 - at least in the short term.
  • #Brent having broken above the pre-OPEC drop off at 45.51 is a huge deal considering it failed to crack resistance there in August (leading to the invalidation of "uptrend 2") and the psychological significance of that level https://t.co/LkEyRxFhnq
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:https://t.co/vytr4OR1Jy https://t.co/ZcxEUWIm8O
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/x8uyOHLtgE
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/CaMR0Vqd1m
British Pound May Extend Drop as PMI Cools BOE Outlook Further

British Pound May Extend Drop as PMI Cools BOE Outlook Further

2018-05-01 06:30:00
Ilya Spivak, Head Strategist, APAC
Share:

TALKING POINTS – BRITISH POUND, UK PMI, US DOLLAR, ISM

UK manufacturing PMI data headlines an otherwise quiet European data docket. It is expected to show that the pace of factory-sector activity growth slowed to weakest in 10 months in April. UK economic news-flow has tellingly underperformed relative to forecasts recently, opening the door for a downside surprise that undercuts near-term BOE rate hike prospects and weighs on the British Pound.

The analogous US manufacturing ISM survey then enters the spotlight. A second consecutive month of moderation is projected after the gauge hit 14-year high in February. Anything shy of a dramatic deviation from consensus forecasts seems unlikely to generate a lasting response from the US Dollar, with traders probably unwilling to offer directional commitment ahead of the upcoming FOMC rate decision.

A status-quo RBA policy announcement left the Australian Dollar rudderless. The central bank signaled that inflation is likely to remain low for a while yet, reinforcing expectations that it will refrain from tightening for the remainder of the year. The Canadian Dollar edged up alongside modest crude oil price gains but both remained firmly confined within near-term ranges.

See our quarterly FX market forecasts to learn what will drive prices through mid-year!

ASIA PACIFIC TRADING SESSION

British Pound May Extend Drop as PMI Cools BOE Outlook Further

EUROPEAN TRADING SESSION

British Pound May Extend Drop as PMI Cools BOE Outlook Further

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

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

To receive Ilya's analysis directly via email, please SIGN UP HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES