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
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.23% 🇨🇦CAD: 0.17% 🇯🇵JPY: 0.16% 🇨🇭CHF: -0.10% 🇦🇺AUD: -0.22% 🇳🇿NZD: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BGgx9WQxZa
  • 🇷🇺 GDP Growth Rate YoY Prel (Q1) Actual: -1% Expected: -2.2% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.05% France 40: -0.10% Germany 30: -0.13% Wall Street: -0.55% US 500: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/J8JtuE98RX
  • Bitcoin and Dogecoin fell sharply as major cryptocurrencies struggle to stay in demand. Get your #cryptocurrency market update from @RichDvorakFX here:https://t.co/T1BaLrNmUI https://t.co/clFG6sYGIN
  • Heads Up:🇷🇺 GDP Growth Rate YoY Prel (Q1) due at 16:00 GMT (15min) Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Technical Levels for US #Dollar, $AUDUSD, #Gold, #Oil, $SPX & #Bitcoin and more! (Webinar Archive) - https://t.co/X4IZtKjZwm
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.07% 🇨🇭CHF: -0.07% 🇦🇺AUD: -0.27% 🇳🇿NZD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/NAFGZR3XoI
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.06% FTSE 100: -0.09% France 40: -0.16% US 500: -0.37% Wall Street: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vBV4t5YRfa
  • I am a gold bull as I have been for a while. I'm dubious on this current breakout holding, however, for a few reasons. 1) first test above a big zone in a long time 2) $USD is near a huge spot of support (below) 3) It's a Monday and $Gold is already stretched https://t.co/kVtOsQ8iyx https://t.co/ueeWs6XcN2
  • *GOLD TRYING TO BREAKOUT* $Gold Testing above a huge, confluent zone of resistance right now fresh 3-month highs Possible bull flag breakout if buyers can continue to push $Gold $GC $GLD https://t.co/9dM8qAsJFl
USD May Rise on IMF Economic Outlook, GBP Braces for New UK PM

USD May Rise on IMF Economic Outlook, GBP Braces for New UK PM

Dimitri Zabelin, Analyst

UK PRIME MINISTER, BREXIT, IMF ECONOMIC OUTLOOK, US DOLLAR – TALKING POINTS

  • US Dollar may rise if IMF report paints a gloomy picture for global growth
  • A new lawyer for the divorce: Sterling traders eye new UK Prime Minister
  • Brexit and IMF turbulence may stoke risk aversion and pressure GBPUSD

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

The US Dollar and the British Pound may have a turbulent day tomorrow as Theresa May prepares to announce her successor and heir to the perils of Brexit while the IMF’s publishes an updated World Economic Outlook. The report will likely be underscored by gloomy presentiments and in line with the previous release titled “A Weakening Global Expansion.”

Political contagion of protectionism and trade wars in the developed economies is now spreading to the developing world where inter-emerging market tensions are escalating against the backdrop of a slowing global economy. Furthermore, rising debt levels combined with the proliferation of collateralized loans with abysmal underwriting standards are conjuring a familiar specter, sending a chilling wind across financial markets.

Read more about how leveraged loans could collapse the global financial system.

Risk aversion linked to uncertainty stemming from Boris Johnson’s approach to Brexit may push GBPUSD lower with the IMF’s publication amplifying risk aversion and the pair’s decline. During times of uncertainty, investors place a premium on liquidity and divert capital to haven assets in an effort to mitigate losses. From the downward pressure of Brexit and a stronger USD, Cable may find itself breaking below critical support.

GBPUSD TECHNICAL ANALYSIS

Sterling traders will be biting their nails tomorrow amid a growing downside bias in light of the fundamental environment in the UK. GBPUSD has tested the resistance-turned-support channel before, though the quick bounce back is telling. However, the case for a break below key support exhorts traders to reconsider their trepidation in committing capital that supports a downward bias. In other words: downward pressure expected.

CHART OF THE DAY: CAPITULATION INEVITABLE?

Chart Showing GBPUSD

GBP TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES