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
EUR/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
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
Bullish
Gold
Mixed
GBP/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
USD/JPY
Bearish
More View more
Real Time News
  • A punny excerpt: “Already the exchanges between Mr. Barnier and his counterpart David Frost, have – apropos to his name – sent a chilling message about bilateral trade talks”. https://t.co/OkFCvUZs2H
  • #BritishPound May Fall on #Virus-Hit GDP Data, #Brexit Stalemate ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2020/08/08/British-Pound-May-Fall-on-Virus-Hit-GDP-Data-Brexit-Stalemate.html
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/BuFKivwj2h
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/QXaLbmFSjd
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
  • Based on how US-China tensions and fiscal talks ended this past week, is the Japanese #Yen readying to push higher ahead? Check out the latest #JPY fundamental outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/08/10/Yen-May-Rise-as-Nasdaq-100-Falls-on-US-China-Tensions-Fiscal-Woes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2Km23bVAy2
  • Tech leading the S&P 500 towards record highs, however, China risks rise. FTSE 100 hovers in a lower range. Get your #equities update from @JMcQueenFX here: https://t.co/IJAABNhxjs https://t.co/ZZ6njsuf5O
  • We are heading into the peak of summer yet there are some unexpected trends in key plays. Will complacency or fundamental instability win out? My weekend video: '#Dollar, S&P 500, #Gold - The Potential for Trend, Reversal or Congestion' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/08/Dollar-SP-500-Gold---The-Potential-for-Trend-Reversal-or-Congestion-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/7KoypvTwcL
GBP to Face Larger Advance on Hawkish BoE, Stronger UK Wage Growth

GBP to Face Larger Advance on Hawkish BoE, Stronger UK Wage Growth

2015-07-10 20:20:00
David Song, Strategist
Share:
GBP to Face Larger Advance on Hawkish BoE, Stronger UK Wage Growth

GBP to Face Larger Advance on Hawkish BoE, Stronger UK Wage Growth

Fundamental Forecast for British Pound: Bullish

The narrowing risk for a Euro-Zone breakup paired with signs of a stronger U.K. recovery should heighten the appeal of the British Pound as the Bank of England (BoE) remains on course to raise the benchmark interest rate off of the record-low.

A Greek deal should keep the Monetary Policy Committee (MPC) on course to normalize monetary policy as Governor Mark Carney sees ‘solid’ growth in the U.K. economy, and the central bank head may continue to prepare households and businesses for higher borrowing-costs as BoE officials are scheduled to testify in front of the House of Commons Treasury Committee next week. At the same time, the fresh batch of central bank rhetoric may highlight a greater dissent within the MPC as a growing number of BoE officials adopt an improved outlook for the region, and the key data prints due out in the days ahead may put increased pressure on the committee to deliver a rate hike in 2015 as the outlook for growth and inflation improves.

Even though the headline reading for the U.K. Consumer Price Index (CPI) is expected to hold flat in June, stickiness in the core rate of inflation may keep the sterling afloat, and market participants may show a more meaningful reaction to the Jobless Claims report as Average Weekly Earnings are projected to expand an annualized 3.0% in May after climbing 2.7% the month prior. A marked pickup in wage growth should raise the BoE’s scope to achieve the 2% inflation target over the policy horizon, and the pound-dollar may continue to retrace the decline from July 2014 amid the tightening race with the Federal Reserve to normalize monetary policy.

With that said, the recent price action in GBP/USD also highlights the risk for a further appreciation in the exchange rate as the pair retains the upward trend carried over from May, and the pound-dollar appears to have carved a near-term low around the 1.5330 region (78.6% Fibonacci retracement) as the Relative Strength Index (RSI) threatens the bearish momentum carried over from the previous month. - DS

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

DISCLOSURES

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.