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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
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
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
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/xeromAGqqx
  • Macro data from around the world have long attested to the urgent need for a trade settlement between the US and China. Increasingly the corporate numbers are saying the same. Get your market update from @DavidCottleFX here:https://t.co/Qon7QUO80c https://t.co/rCOG78QQ2M
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your market update from @IlyaSpivak here: https://t.co/4lHhHsby56 $XAUUSD https://t.co/JmZxckVHdS
  • Cable (GBP/USD) remains just off its seven-month high print around 1.3165 as traders start to move to the side lines ahead of next Thursday’s General Election vote. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/CpCh13J9ZH #Brexit https://t.co/PIh6WUqbsK
  • (Weekly Technical Outlook) GBP/USD, EUR/GBP, GBP/JPY, GBP/CAD Outlook as UK Election Looms $GBPUSD $EURGBP $GBPJPY #UKelection2019 - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/07/GBPUSD-EURGBP-GBPJPY-GBPCAD-Outlook-as-UK-Election-Looms.html?CHID=9&QPID=917702 https://t.co/iuILHYczJ7
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/WlEFlluGfZ #tradingstyle https://t.co/TkMtJQKatx
  • By issuing debt denominated in $USD, China is making a long-term bet that it will be cheaper to pay back its loans over time in the US Dollar; it believes the value of the US Dollar will fall. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/xV9urXXf48
  • What are some risk trading management techniques? Find out: https://t.co/RShdlDz9RA #tradingstyle https://t.co/M3ASPIHAep
  • #Dow Jones stages impressive recovery on a firm NFP report. #FTSE 100 eyes UK general election. Get your equities technical analysis from @JMcQueenFX here: https://t.co/o28UcG6N3l https://t.co/SwGAaFCFND
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/f4y1FOOZnM #tradingstyle https://t.co/x5HgYopWc5
Pound Eyes Parliament-Led Brexit Efforts, Yen May Resume Rise

Pound Eyes Parliament-Led Brexit Efforts, Yen May Resume Rise

2019-03-26 07:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

TALKING POINTS – BRITISH POUND, BREXIT, YEN, SENTIMENT

  • British Pound volatility likely as Parliament takes charge of Brexit
  • Yen may rise as French, US data stokes global slowdown concerns
  • Tone of global economic news flow sets the stage for risk aversion

Political drama in Westminster may take canter stage in European trading hours after the UK House of Commons appeared to have wrestled control of the Brexit process from the government of Prime Minister Theresa May. A series of “indicative votes” meant to gauge MPs’ appetite for a variety of EU withdrawal configurations and perhaps even a second referendum are due Wednesday.

In the meantime, traders will no doubt monitor the flurry of lead-in activity with great interest. Gauging which options might have the most broad-based support as well as the likelihood that Ms May will respect the polling’s outcome – either by implementing it or stepping aside – may drive seesaw British Pound volatility. Lasting directional follow-through seems unlikely for now however.

On the data front, a revised set of fourth-quarter French GDP figures as well as US housing and consumer confidence statistics. Disappointing outcomes echoing the recent trend toward underperformance relative to forecasts (see chart below) may feed global growth concerns and sour sentiment, boosting the anti-risk Japanese Yen while hurting the likes of the cycle-sensitive Australian Dollar.

What are we trading? See the DailyFX team’s top trade ideas for 2019 and find out!

CHART OF THE DAY – GLOBAL ECONOMIC DATA FLOW WARNS OF WEAKNESS

Pound Eyes Parliament-Led Brexit Efforts, Yen May Resume Rise

Citigroup helpfully tracks the tendency of economic data outcomes across a variety of countries and groupings to deviate from baseline forecasts, either in the positive or negative direction. A macro view sizing up the overall global index as well as independent measures for the G10 and emerging market (EM) economies reveals that data flow as steadily deteriorated since mid-2018.

Broadly speaking, this suggests that realized economic outcomes have tended to be worse than analysts’ models anticipated for the better part of nine months. Against this backdrop, it seems hardly surprising that investors have turned skittish. If the downward revision of projections continues to lag the pace of deterioration in economic conditions, risk aversion is likely to remain the path of least resistance.

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

News & Analysis at your fingertips.