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
Wall Street
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
More View more
Real Time News
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here: https://t.co/H1BaTlIHjY https://t.co/zP3mjfslSD
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/Of1thU4zXw
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://t.co/p2FhEwym1E https://t.co/MjiYB85TSF
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/fIO9TP7D62
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/Xja8DHUqlH
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/9po5Lg4vnR
  • The Japanese Yen is eyeing the upcoming Bank of Japan rate decision and CPI figures, but JPY crosses will likely remain dependent on broader market sentiment. Get your weekly $JPY forecast from @FxWestwater here: https://t.co/x9rbQpPfWe https://t.co/2x1R5XTVea
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/uCaWQiu4Ly
  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here:https://t.co/XrpV0jcy8e https://t.co/g2To3LmUah
  • RT @michaeljburry: Read thread.
Pound Eyes 1.6200 on More Hawkish BoE, Stronger U.K. Recovery

Pound Eyes 1.6200 on More Hawkish BoE, Stronger U.K. Recovery

David Song, Strategist
Pound_Eyes_1.6200_on_More_Hawkish_BoE._Stronger_U.K._Recovery_body_Picture_1.png, Pound Eyes 1.6200 on More Hawkish BoE, Stronger U.K. Recovery

Pound Eyes 1.6200 on More Hawkish BoE, Stronger U.K. Recovery

Fundamental Forecast for the British Pound: Bullish

Fresh comments from Bank of England (BoE) Governor Mark Carney pushed the British Pound to a weekly high of 1.6132, and the GBPUSD may continue to track higher ahead of the next policy meeting on October 10 as the central bank moves away from its easing cycle.

Indeed, Mr. Carney said there’s ‘no case for more quantitative easing’ in light of the ‘strengthened, broadened’ recovery, and argued that he does not support the non-standard measure. In turn, higher U.K. home prices along with a further pickup in Mortgage Approvals may prompt BoE officials to adopt a more hawkish tone for monetary policy committee next week as Mark Carney, Paul Tucker, and Paul Fisher are scheduled to speak in the coming days.

If we see a growing number of central bank officials show a greater willingness to implement the exit strategy ahead of schedule, expectations building into next month’s policy meeting may limit the downside risks for the sterling, and we may see a further shift in the policy outlook should the MPC toughen its stance on inflation.As a result, we may see the central bank make an increased effort to achieve the 2% target for price growth, and a more material alteration in central bank policy is likely to further impact the near-term outlook for the GBPUSD as the bullish momentum gathers pace.

The upward trending channel in the GBPUSD may continue to take shape as the Relative Strength Index follows a similar dynamic, and we may continue to see a series of higher highs paired with higher lows until the bullish formation deteriorates. With that said, the pound-dollar may make another attempt to test the 1.6200 handle, the 23.6% Fibonacci retracement of the 2009 range. - DS

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

DISCLOSURES