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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bullish
Gold
Mixed
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
Bullish
USD/JPY
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
  • The plunge in gold volatility has not seen an ensuing drop in gold prices – more evidence that our longstanding axiom on the gold volatility-gold price relationship holds true. Get your $XAUUSD market update from @CVecchioFX here: https://t.co/GeXl10ibPv https://t.co/xH8yBn8qAG
  • Heads Up:🇺🇸 Fed Beige Book due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-15
  • New York #Fed Executive VP Logan: - Uncertainty from COVID-19 makes future-shock protection prudent - BBG
  • Trump inclined towards holding off on sanctioning Chinese officials currently $USDCNH
  • Canadian #Dollar Price Outlook: $USDCAD Returns to Range Support - #Loonie Levels- https://t.co/Jryw74dPkT https://t.co/8rDsCdLbFb
  • US Treasury Yields: 2-Year: 0.151% 3-Year: 0.175% 5-Year: 0.279% 7-Year: 0.459% 10-Year: 0.617% 30-Year: 1.317% $TNX
  • RT @FirstSquawk: U.S. TO BACK NATIONS WHOSE SOUTH CHINA SEA CLAIMS CHINA VIOLATED
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.92%, while traders in US 500 are at opposite extremes with 75.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/q96ash6VEz
  • Canadian Dollar (CAD) is coming under pressure as FX traders digest dovish central bank outlook underpinned by sluggish inflation expectations post-COVID. Get your $USDCAD market update from @RichDvorakFX here: https://t.co/PWUPp1tbfa https://t.co/ksOeej284m
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.09% Silver: 0.75% Gold: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HmQWswBdHh
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

News & Analysis at your fingertips.