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
GBP/USD
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
  • German SPD's Scholz claims election victory, adds that a coalition agreement is possible between SPD, Greens and FDP $EUR
  • Oil Watch "SPR could release 33 to 82.5mln barrels of crude oil in series of auctions, but it is unlikely to have a material impact on crude markets given China's 10mbpd import and 14mbpd consumption" - Wood Mackenzie
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1cYv9t https://t.co/7Q5Y3RquIj
  • Heads Up:🇯🇵 BoJ Gov Kuroda Speech due at 05:35 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • 🇯🇵 Leading Economic Index Final (JUL) Actual: 104.1 Previous: 104.2 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Crude Oil Prices Hit 2-Month High on Supply Squeeze, 2021 Top Eyed - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/09/27/Crude-Oil-Prices-Hit-2-Month-High-on-Supply-Squeeze-2021-Top-Eyed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #OOTT #crudeoil https://t.co/Rx9kbVPlys
  • 🇯🇵 Leading Economic Index Final (JUL) Actual: 104.1 Previous: 104.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • 🇯🇵 Coincident Index Final (JUL) Actual: 94.4 Previous: 94.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Previous: 94.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Previous: 104.6 https://www.dailyfx.com/economic-calendar#2021-09-27
British Pound at Risk as BOE Presents Brexit Scenario Analysis

British Pound at Risk as BOE Presents Brexit Scenario Analysis

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – BREXIT, BRITISH POUND, BANK OF ENGLAND, CARNEY

  • BOE’s Brexit analysis, FSR report may weigh on the British Pound
  • Yen down, Aussie and NZ Dollars up on hopeful G20 summit outlook
  • Canadian Dollar lower with local yields as BOC rate hike bets cool

The Bank of England is in focus in European trading hours. It will publish its Financial Stability Report (FSR), which will include stress test result for major UK lenders. The central bank’s analysis of the economic impact of a range of Brexit scenarios is also on offer. Governor Mark Carney will hold a press conference to explain the content on offer.

These updates come at a critical time as UK Prime Minister Theresa May struggles to rally support for the Brexit deal she negotiated with Brussels. Parliament will vote on her proposal on December 11. If it fails, there is almost certainly insufficient time to craft a replacement by a March 29 deadline, opening the door for a “no-deal” rupture.

With that in mind, a credible assessment of Ms May’s proposal relative to its alternatives as well as the resilience of the UK financial system in the event that whatever outcome rattles markets may prove pivotal. A similar work-up from a group of prominent think tank economists rattled markets yesterday. If the central bank’s view is similarly sobering, the British Pound seems likely to suffer.

YEN DOWN, AUSSIE DOLLAR UP ON HOPEFUL G20 OUTLOOK

A cautiously risk-on mood prevailed in Asia Pacific trade. The Australian and New Zealand Dollars rose alongside local shares while the anti-risk Japanese Yen tracked lower. Hopes for de-escalation of the trade war between the US and China after presidents Trump and Xi meet on the sidelines of a G20 gathering this weekend still seem to be buoying investors’ mood.

The Canadian Dollar continued to fall, building on losses in the prior session. The decline echoed a drop in local bond yields, hinting that a dovish shift in BOC policy bets may be the culprit. Indeed the priced-in probability of a rate hike in January fell to the lowest in a month, although trades still see the odds of an increase as better than even at 68.5 percent.

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

ASIA PACIFIC TRADING SESSION

Asia Pacific Trading Session Economic Calendar

EUROPEAN TRADING SESSION

European Trading Session Economic Calendar

** 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