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.



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
Please try again
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
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
  • Recent price action in the US Dollar Index (DXY) casts a bearish outlook for the Greenback as it extends the series of lower highs and lows from earlier this week. Get your weekly USD technical forecast from @DavidJSong here:
  • USD/MXN drops back into its recent range as investors await further guidance from economic data. Get your weekly Mexican Peso forecast from @HathornSabin here:
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • What is your forex trading style? Take the quiz and find out:
  • Australian Dollar plunged for a fifth week but held key downtrend support at the yearly lows. Get your weekly AUD technical forecast from @MBForex here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Last week’s march higher in EUR/USD may well extend further after Friday’s Eurozone economic statistics that will likely turn the ECB more hawkish on monetary policy. Get your weekly Euro forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
Post-Fed GBP/USD Rebound at Risk on Dovish BoE, Soft Inflation Report

Post-Fed GBP/USD Rebound at Risk on Dovish BoE, Soft Inflation Report

David Song, Strategist
Post-Fed GBP/USD Rebound at Risk on Dovish BoE, Soft Inflation ReportPost-Fed GBP/USD Rebound at Risk on Dovish BoE, Soft Inflation Report

Fundamental Forecast for British Pound:Neutral

With GBP/USD largely reversing the decline following the Federal Open Market Committee’s (FOMC) policy meeting, the pair may continue to face range-bound prices in the week ahead as market attention turns to the Bank of England (BoE) interest rate decision on November 3.

Despite the slew of data prints coming out of the U.K., the fresh commentary coming out of the BoE may play the greatest role in driving near-term price action for the sterling as market participants continue to weigh the outlook for monetary policy. Even though the BoE is widely anticipated to keep the benchmark interest rate at the record-low of 0.50%, the ‘Super Thursday’ event in the U.K. is likely to spur increased volatility in the pound-dollar as the central bank is also scheduled to release its updated quarterly Inflation Report. Another 8-1 split within the Monetary Policy Committee (MPC) accompanied by a downward revision in the BoE’s growth/inflation forecast may drag on the sterling and produce a near-term decline in GBP/USD especially as the BoE sees price growth holding below 1% until Spring 2016. However, a greater dissent within the central bank may heighten the appeal of the British Pound and push the pound-dollar to further retrace the decline from back in September as Governor Mark Carney continues to prepare U.K. households and businesses for higher borrowing-costs.

At the same time, we will also closely monitor the fresh batch of central bank rhetoric coming out of the Federal Reserve as Chair Janet Yellen, Vice-Chair Stanley Fischer, Governor Lael Brainard, Governor Daniel Tarullo, New York Fed President William Dudley, Atlanta Fed President Dennis Lockhart and St. Louis Fed President James Bullard are all scheduled to speak in the week ahead. With Fed Funds Futures now pricing a 50% probability for a rate hike at the December meeting, comments highlighting a greater willingness to remove the zero-interest rate policy (ZIRP) in 2015 may continue to limit the topside for GBP/USD as market participants anticipate the Fed to raise its benchmark interest rate ahead of its U.K. counterpart. In turn, hawkish remarks from Fed officials paired with a more neutral tone from the BoE may produce headwinds for GBP/USD as the pair appears to have carved a near-term top.

Even though GBP/USD largely preserves the opening monthly range for October, the failed attempts to close above the 100-Day SMA (1.5483) may produce range-bound conditions going into first full-week of November, but the risk remains tilted to the downside as the Relative Strength Index (RSI) largely preserves the bearish formation from back in May. With that said, the downside targets remain in focus until GBP/USD breaks out of the downward momentum from earlier this year.

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