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
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
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
Mixed
More View more
Real Time News
  • Cryptos trade over the weekend unlike most other exchange-based markets. That along with Elon Musk's frequent social media references to Bitcoin and Dogecoin these past months have made his Saturday Night Live appearance an unusual 'market event'
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.22%, while traders in Wall Street are at opposite extremes with 76.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/R9t6Kv2kSj
  • Hey traders! Wrap up your week with a market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/5NV5FVwRMa
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: 0.87% Oil - US Crude: 0.43% Silver: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/QCTA4RlZ6I
  • Dogecoin could be teed up for volatility with the crypto likely to get a shoutout on SNL. Get your #fintwit update from @RichDvorakFX here:https://t.co/mew2O1TyCY https://t.co/AlWnzOmnaP
  • UK to reopen for travel from 17 May -BBG $GBP $GBPUSD $EURGBP
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.83% 🇪🇺EUR: 0.74% 🇬🇧GBP: 0.69% 🇨🇭CHF: 0.61% 🇯🇵JPY: 0.44% 🇨🇦CAD: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YlMRk2x0d4
  • 🇷🇺 Inflation Rate YoY (APR) Actual: 5.5% Expected: 5.5% Previous: 5.8% https://www.dailyfx.com/economic-calendar#2021-05-07
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.82% Wall Street: 0.50% Germany 30: 0.14% France 40: 0.12% FTSE 100: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6VsREZeMBF
  • How collective market bias works: I prefer to interpret this jobs data disappointment as a booster for the general Fed safety net and ignore the implications that speculative reach carries related to the warning the Fed made yesterday about capital markets being stretched
British Pound Gains on Hopes for Post-Brexit Customs Compromise

British Pound Gains on Hopes for Post-Brexit Customs Compromise

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – BRITISH POUND, BREXIT, US DOLLAR

  • British Pound gains on reports of post-Brexit customs compromise
  • US Dollar broadly lower as markets retrace Tuesday’s price trends
  • Lull in top-tier event risk might increase sensitivity to headline risk

The British Pound pushed higher in Asia Pacific trade amid reports of a proposal to bridge differences between members of Prime Minister Theresa May’s cabinet over the post-Brexit customs regime. It would allow the country to temporarily stay in the EU common tariff until a new deal is struck.

Such an arrangement would avoiding a disruption of commercial activity and a hard border in Northern Ireland while technically allowing Brexiteers to claim that the customs union has been left as promised. EU officials may yet spurn the compromise however.

The US Dollar traded broadly lower, continuing a decline started midday yesterday. The benchmark currency retreated after setting a new four-month high, with the downswing curiously coinciding with rising Treasury bond yields and a steepening 2019 rate hike cycle implied in Fed Funds futures.

A concurrent rise in the bellwether S&P 500 stock index may help explain these seemingly counterintuitive trading patterns. Markets began 2018 betting against USD on expectations that a broadening recovery will see global central banks play catch-up to the Fed’s hawkish lead, eroding the greenback’s yield advantage.

An upturn in sentiment may have revived such fanciful predictions, perhaps with the aid of profit-taking on Tuesday’s moves now that the week’s offering of big-ticket US scheduled event risk is exhausted. Follow-through seems unlikely however amid loud protest from the world’s leading central bankers.

Looking ahead, a lull in heavy-duty event risk leaves markets without an obvious focal point for speculation. That might make for quiet consolidation, but caution is warranted. Traders hungry for a catalyst may pounce on stray headline flow more readily however, making for knee-jerk volatility.

See our free guide to learn how to use economic news in your trading strategy!

ASIA PACIFIC TRADING SESSION

British Pound Gains on Hopes for Post-Brexit Customs Compromise

EUROPEAN TRADING SESSION

British Pound Gains on Hopes for Post-Brexit Customs Compromise

** 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

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

DISCLOSURES