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
Oil - US Crude
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
More View more
Real Time News
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/Gps2Xp32h9
  • 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: https://t.co/kODPAfJE79 https://t.co/hftCEho1lM
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here: https://t.co/MzaIl7tPmZ
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/rFlQtyQS81
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/KzhQnGiLyt
Mixed U.K./U.S. Data to Foster Range-Bound Conditions for GBP/USD

Mixed U.K./U.S. Data to Foster Range-Bound Conditions for GBP/USD

David Song, Strategist
Mixed U.K./U.S. Data to Foster Range-Bound Conditions for GBP/USDMixed U.K./U.S. Data to Foster Range-Bound Conditions for GBP/USD

Fundamental Forecast for GBP: Neutral

For more updates, sign up for David's e-mail distribution list.

Mixed data prints coming out of the U.S. & U.K. may foster range-bound prices in GBP/USD especially as the Federal Reserve and the Bank of England (BoE) retain a wait-and-see approach for monetary policy.

Even though U.K. Retail Sales are anticipated to rebound 0.7% in April, another uptick in Jobless Claims accompanied by a slowdown in the core Consumer Price Index (CPI) may dampen the appeal of the sterling as the data prints drag on interest-rate expectations. It seems as though the Monetary Policy Committee (MPC) will retain its current policy throughout the foreseeable future as the U.K. referendum clouds the economic outlook for the region, but a slew of better-than-expected may put increased pressure on Governor Mark Carney and Co. to normalize monetary policy sooner rather than later as the central bank continues to see a risk of overshooting the 2% inflation-target over the policy horizon.

At the same time, a downtick in the U.S. Core CPI may encourage the Federal Open Market Committee (FOMC) to preserve its current policy at the next quarterly meeting in June, and fresh comments from central bank officials may prompt market participants to push out bets for the next rate-hike as Chair Janet Yellen remains in no rush to implement higher borrowing-costs. With that said, the Fed Minutes accompanied by the series of speech by Minneapolis Fed President Neel Kashkari, San Francisco Fed President John Williams, Dallas Fed President Robert Kaplan and New York Fed President William Dudley may fail to spark a material shift in interest-rate expectations amid the mixed data prints coming out of the real economy.

In turn, GBP/USD stands at risk of facing range-bound conditions next week as market participants weigh the outlook for monetary policy, but the pair may continue to mark fresh monthly lows over the coming days should the exchange rate fail to hold above near-term support around 1.4290 (78.6% Fib retracement) to 1.4330 (23.6% Fib expansion).

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

DISCLOSURES