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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • #DJIA futures eyeing a retest of the February record-high (29595.3) after breaking above Falling Wedge resistance A daily close above the January low (28130.2) could signal the resumption of the primary uptrend extending from the March doldrums $DJI #DowJones #WallStreet
  • @DailyFXTeam Wall Street Futures Update: Dow Jones (+0.32%) S&P 500 (+0.35%) Nasdaq 100 (+0.37%) [delayed] -BBG
  • #Market Snapshot $AUDUSD and $EURUSD drifting from session-highs as the haven-associated $JPY attempts to claw back lost ground. #SP500 futures, #Gold and #crudeoil all moving higher while the #ASX200 struggles to penetrate key resistance at 6,000
  • Join @DanielGMoss's #Webinar at 10:00 PM ET/2:00 AM GMT for his weekly coverage of trading prep for $AUDUSD in the week ahead. Register here:
  • Dow Jones climbed a second day on fiscal stimulus hopes. All 9 Dow sectors were up. Traders face a quiet calendar day, with the 1st presidential debate closely eyed. The live TV debate will be on air from 9:00 to 10:30am Singapore time on Wednesday.
  • According to John Hopkins University, Coronavirus deaths globally have surpassed 1 million people
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:
  • ❗Heads up for #Rupee $USDINR traders! The #RBI monetary policy announcement originally set for October 1 is going to be rescheduled at a later date, tbd, Will update once time is known -
  • European negotiators have indicated for the first time that they are prepared to start writing a joint legal text of a trade agreement with the UK, before fresh talks begin today, according to The Times $GBP
British Pound Likely to Stick to Tight Range, but Watch Key Data

British Pound Likely to Stick to Tight Range, but Watch Key Data

2015-08-14 20:40:00
David Rodriguez, Head of Product
British Pound Likely to Stick to Tight Range, but Watch Key Data

Fundamental Forecast for British Pound: Neutral

The British Pound stuck to its tight trading range versus the US Dollar and failed once again to close above critical resistance. We’ll watch potentially significant UK Consumer Price Index inflation and Retail Sales data releases for any surprises, but a substantial breakout seems unlikely as traders tread softly in the month of August.

The British currency continues to track movements in domestic yields and interest rate expectations, and to that effect it will be important to monitor sharp reactions to the key inflation and retail sales figures. A disappointing Quarterly Inflation Report from the Bank of England severely scaled back expectations that officials would vote to raise interest rates through the foreseeable future.

A Bloomberg News survey shows analysts/economists predict that July CPI data will show prices remained exactly unchanged on a year-over-year basis. The BoE expressly targets an annual inflation rate of 2.0 percent, and the lack of price pressures will leave officials with ample scope to leave monetary policy unchanged through the rest of the year.

It would likely take a substantial surprise out of the Consumer Price Index inflation report to force a meaningful shift in expectations and the GBP itself. And indeed, forex volatility prices remain low for the British Pound, the US Dollar, and major FX counterparts. There’s an outside chance that the upcoming release of US Federal Reserve meeting minutes will force meaningful reactions out of the US currency. Traders currently price in a roughly 50 percent chance the Fed will hike in September, and surprises in official rhetoric could nudge the odds in one direction or the other.

Recent CFTC Commitment of Traders data shows that large speculators remain marginally net-short the GBP/USD. Risks seem weighed to the downside absent major surprises out of upcoming UK economic data and Fed minutes. – DR

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