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
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
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • #Silver is currently trading back just above the 26.00 level. The precious metal was knocked slightly lower yesterday amidst a slight jump in longer-term US yields but is attempting to move higher again today. $XAG $SLV https://t.co/3nwbQdLpRU
  • Trader confidence in Bitcoin, Ethereum and Gold remains largely undented by recent price falls and their longer-term trends higher remain intact. Get your market update from @MartinSEssex here:https://t.co/xwX3K91WyP https://t.co/GkI5ZRhv3l
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.82% Gold: 0.27% Oil - US Crude: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mbJ4BR6WeP
  • EU Drug Regulator: Benefits of J&J vaccine outweigh risks.
  • World Bank: Sees global commodity prices remaining firm around current levels in 2021 after Q1 recovery.
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tEAXFbZw1C
  • Canada extends Covid travel restrictions, only allowing essential travel to and from the US until May 21st. $USD $CAD
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 0.30% Oil - US Crude: 0.08% Gold: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/husHdqWE1m
  • USD contrarian properties fade as short squeeze stabilises. GBP/USD remains the largest bull bet. Get your market update from @JMcQueenFX here:https://t.co/M76KY0jys3 https://t.co/9pkAItCOkl
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.35% Wall Street: -0.41% Germany 30: -0.97% FTSE 100: -1.15% France 40: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0jQtVfHvdH
British Pound: BOE Inflation Report, Euro Zone Debt Crisis in Focus

British Pound: BOE Inflation Report, Euro Zone Debt Crisis in Focus

Ilya Spivak, Head Strategist, APAC
BOE_Inflation_Report_Euro_Zone_Debt_Crisis_in_Focus_body_Picture_1.png, British Pound: BOE Inflation Report, Euro Zone Debt Crisis in Focus

Fundamental Forecast for British Pound: Bullish

Familiar themes persist for the British Pound in the week ahead, with prices relying on a precarious balance between the impact of Eurozone crisis fears and an outlook for Bank of England monetary policy that appears to be turning relatively hawkish. In the week ahead, both drivers will find ample triggers for volatility, but the path of least resistance appears to point toward a broadly supportive environment for the UK currency against most of its top counterparts.

On the monetary policy front, the focus will be on the updated BOE quarterly Inflation Report. The document served as the basis for last week’s MPC decision to leave benchmark interest rates on hold as well as opt not to expand the score of the quantitative easing program. Since the BOE typically doesn’t release a statement when no changes to policy are made, the report will serve as the markets’ leading guide on the central bank’s thinking for the coming three months, and thereby carries heavy implications for the Pound.

Minutes from April’s sit-down of the rate-setting committee showed it’s theretofore most dovish voice – Adam Posen – withdrew his long-standing call for additional QE amid concerns about sticky core inflation. If Mr. Posen believes that price growth concerns overshadow the UK economy’s descent into a technical recession as the chief concern of policy, there is a good chance that other less-dovish members of the committee are likewise if not more perturbed. Confirmation of such a shift in tone is likely to prove supportive for Sterling, boosting front-end yields and scattering dilution fears.

In the Eurozone, uncertainty persists over the political landscape in Greece as the Pasok party attempts to cobble together a ruling coalition able to meet the country’s commitments under the EU/IMF bailout program. Failure to do so would reinforce increasingly credible fears that Greece may be forced to leave the Eurozone and possibly the EU altogether, an unprecedented outcome with no forecast-able benchmark in terms of its practical implications for financial markets. With that in mind, continued uncertainty is likely to perpetuate capital flight out of Euro-denominated assets. Given the floor imposed on the Swiss Franc via SNB intervention, the next logical regional haven has become the Pound. - IS

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

DISCLOSURES