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
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
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
  • USD/MXN has plummeted towards critical technical support following the recent pull-back. Get your market update from @DColmanFX here:https://t.co/H9trN4byPX https://t.co/rZ332BNHZO
  • 🇦🇺 Westpac Leading Index MoM (SEP) Actual: -0.02% Previous: -0.27% https://www.dailyfx.com/economic-calendar#2021-10-20
  • Hold your breath. Bitcoin is a sneeze away from tagging an intraday record high. $BTCUSD https://t.co/dT6uewVqTR
  • 🇯🇵 Balance of Trade (SEP) Actual: ¥-622.8B Expected: ¥-519.2B Previous: ¥-637.2B https://www.dailyfx.com/economic-calendar#2021-10-19
  • Heads Up:🇦🇺 Westpac Leading Index MoM (SEP) due at 00:00 GMT (15min) Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-10-20
  • Heads Up:🇯🇵 Balance of Trade (SEP) due at 23:50 GMT (15min) Expected: ¥-519.2B Previous: ¥-635.4B https://www.dailyfx.com/economic-calendar#2021-10-19
  • RT @Peter__Wood: @JKempEnergy Lots of copper demand on the horizon. Source https://t.co/qX6K1SAVRO https://t.co/WQr7kuf2sU
  • The New Zealand Dollar made new highs against the Japanese Yen but remained in a range trading environment against the Swiss Franc. Will NZD/CHF make new highs? Find out here: https://t.co/ULGSBe2tex https://t.co/YOxSxTKtqy
  • Gold prices are under pressure after China growth slowed and New Zealand inflation surged, with investors pricing in more aggressive central bank policy outlooks, which is supporting bond yields.Get your market update from @FxWestwater here:https://t.co/9Jiy8IKqQv https://t.co/YEib0pnKjk
  • Energy has been on a tear, with crude oil having recently broke above a major long-term threshold. Right around 77 was big resistance from a decade ago. Get your market update from @PaulRobinsonFX here:https://t.co/H9vnIzWSa1 https://t.co/KUs252TdkY
British Pound Outlook Bearish Amid Further Easing Concerns

British Pound Outlook Bearish Amid Further Easing Concerns

Renee Mu, Currency Analyst
Forex_British_Pound_Outlook_Bearish_Amid_Further_Easing_Concerns_body_Picture_5.png, British Pound Outlook Bearish Amid Further Easing Concerns

Fundamental Forecast for British Pound: Bearish

The British Pound accelerated lower last week in the wake of the Bank of England inflation report that signaled policymakers would look past rising inflation and maintain a dovish posture. Although Britain’s most recent inflation reading put price growth at an above-target rate of 2.7 percent, BOE Governor Mervyn King emphasized that “delivering price stability in the medium term [should] avoid undesirable volatility in output in the short run”. Sterling broke to a new 6-month low on Friday as a disappointed Retail Start report released amplified selling pressure.

The central bank’s dovish lean reflects the weakness of the UK economy. Fourth-quarter Gross Domestic Product contracted by 0.3% as the temporary boost from the London Olympics waned. Meanwhile, exports have been dragged down by the poor performance in the Euro area. Seemingly strong employment growth is far from encouraging considering it is coupled with sluggish growth. Indeed, labor productivity has fallen back to levels unseen since 2005.

The coming week begins with the markets digesting the weekend’s G20 summit in Moscow, where finance ministers and central bank governors from group’s member countries are expected to clash about competitive devaluation of currencies, known as the so-called “currency wars”. Building agreement for concrete policy is unlikely considering so many G20 countries are themselves guilty of overt or implicit actions to weaken their exchange rates. Still, a final communiqué that is perceived to limit the scope for monetary stimulus may prove significant for the Pound given the BOE’s proclivity for QE, pushing the currency higher.

Looking further ahead, minutes from February’s BOE meeting come into focus. Although much of the central bank’s overall position will have been well-telegraphed by the quarterly inflation report already, the vote count for and against additional asset purchases will be interesting. This will help investors gauge the likelihood of additional stimulus in the near term and possibly pre-dating the BOE’s takeover by Governor-designate Mark Carney in the summer. Needless to say, such cues are likely to further punish the UK unit. January’s Jobless Claims data rounds out scheduled event risk.

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

DISCLOSURES