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
Bullish
Oil - US Crude
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Encouraging move here for $GDX as it breaks out of its descending channel Meanwhile, $GLD remains locked in its downtrend https://t.co/5tetsfHsxw
  • Heads Up:🇺🇸 Fed Bostic Speech due at 15:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-15
  • $USDJPY has continued lower today amidst further weakness from the US Dollar, falling to an intraday low around the 108.60 level, its lowest point in three weeks. $USD $JPY https://t.co/xHm8sp9qsR
  • While things are remarkably quiet in many global indices, the situation on the German $DAX 30 is the most impressive. At a record high, it has carved out the narrowest 7-day historical range (as %age of spot) since October 2017. Break risk high https://t.co/u0d5BTxlsJ
  • Gold ($XAUUSD) is making a bid to break back above a frequented pivot level around 1765. This despite risk trends being up (against its haven status) and the Dollar holding steady (pricing factor) https://t.co/pmbnoxYCXf
  • USD/CAD: A convincing rejection of the 1.26 handle, which also coincided with the 50% fib of the 2021 range. Get your $USDCAD technical analysis from @JMcQueenFX here:https://t.co/VubZkkShN0 https://t.co/zhAZJXtoqm
  • Hey traders! Are we witnessing a clear stretch for S&P500 and Nasdaq? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/SMh1QQZ7lT
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.46% 🇦🇺AUD: 0.38% 🇯🇵JPY: 0.26% 🇬🇧GBP: 0.05% 🇪🇺EUR: -0.04% 🇨🇦CAD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LaMYeDZc9M
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.86% FTSE 100: 0.85% Wall Street: 0.77% France 40: 0.46% Germany 30: 0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/oTS1NQDC68
  • Gold back towards key resistance (1760-65) that has capped rallies over the past two months - US yields at session lows providing the latest push higher https://t.co/u35ePHQXOb
British Pound Breaks Out- BoE Policy Fosters Bullish Outlook

British Pound Breaks Out- BoE Policy Fosters Bullish Outlook

David Song, Strategist
British_Pound_Breaks_Out-_BoE_Policy_Fosters_Bullish_Outlook_body_Picture_1.png, British Pound Breaks Out- BoE Policy Fosters Bullish Outlook

British Pound Breaks Out- BoE Policy Fosters Bullish Outlook

Fundamental Forecast for British Pound: Bullish

The British Pound broke out of the range carried over from the previous week, with the GBPUSD climbing to a fresh monthly high of 1.5362, and the sterling may continue to retrace the sharp decline from earlier this year as the Bank of England (BoE) maintains a neutral stance for monetary policy. Indeed, the BoE kept the benchmark interest rate at 0.50% while maintaining its asset purchase program at GBP 375B, but refrained from releasing a policy statement once again as the Monetary Policy Committee sticks to the sidelines.

Takes this quiz to assess your trading IQ!

In turn, the BoE Minutes due out on April 17 may reveal another 6-3 split within the central bank, and the majority may continue to endorse a neutral policy stance for 2013 as the committee sees a slow but sustainable recovery in Britain. Although the BoE pushed U.K. lenders to raise GBP 25B in fresh capital, Chief Economist Spencer Dale still expects bank lending to pick up this year as the Funding for Lending Scheme continues to work its way through the real economy. Moreover, Standard and Poor’s reaffirmed the AAA credit-rating for the U.K. even as the group held a negative outlook for the region, and the British Pound may continue to track higher in the days ahead as the economic docket for the following week is expected a rebound in business outputs, while the British Retail Consortium’s gauge for retail sales is projected to increase another annualized 1.0% in March. As the pickup in private sector activity raises the outlook for growth and inflation, we may see a growing number of BoE officials adopt a more hawkish tone for monetary policy, and we may see the central bank slowly move away from its easing cycle later this year as the U.K. is expected to avoid a triple-dip recession.

As the GBPUSD climbs back above former support – the 50.0% Fibonacci retracement from the 2009 low to high around 1.2560 – the rebound from the yearly low (1.4830) looks poised to gather pace over the near-term, and we may see a run at the 38.2% retracement (1.5680) as the BoE refrains from expanding the balance sheet further. Indeed, narrowing bets for more quantitative easing instills a bullish outlook for the British Pound, but we may see a growing number of investors treat the sterling as a safe-haven amid the ongoing turmoil in the euro-area. - DS

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

DISCLOSURES