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
More View more
Real Time News
  • Despite the IMF's update to 2021 growth forecasts and strong earnings after hours, risk trends are pacing like markets are worried. Traders are likely awaiting the Fed, and that has me look at $EURUSD and $USDCAD https://www.dailyfx.com/forex/video/daily_news_report/2021/07/28/EURUSD-and-USDCAD-Reversals-More-Suitable-to-Conditions-but-Beholden-to-Fed.html https://t.co/ywxD4wRAYX
  • Wall Street Futures Update: Dow Jones (-0.08%) S&P 500 (-0.01%) Nasdaq 100 (-0.06%) [delayed] -BBG
  • 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/iMvJr5f8xn
  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/vvbsYTp4Cx https://t.co/o8Z9bsE0W1
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.43% Gold: 0.23% Silver: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/dRHbp3p0Ii
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.12% 🇪🇺EUR: 0.03% 🇬🇧GBP: 0.01% 🇳🇿NZD: -0.02% 🇨🇭CHF: -0.03% 🇦🇺AUD: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dANsuTmXWb
  • https://t.co/e7ibDiB1oK
  • RT @FxWestwater: Australian Dollar Outlook: $AUDUSD Snubs Hot Q2 CPI as Sydney Lockdown Extends Link: https://www.dailyfx.com/forex/market_alert/2021/07/28/Australian-Dollar-Outlook-AUDUSD-Snubs-Hot-Q2-CPI-as-Sydney-Lockdown-Extends.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.10%, while traders in Wall Street are at opposite extremes with 75.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GKwSgVlfTy
  • $AUDUSD little changed on an overall mixed Q2 Australian CPI report Headline rates were slightly better-than-expected - 3.8% y/y vs 0.8% seen - 0.8% q/q vs 0.7% seen But, the RBA preferred trimmed mean gauges were as expected - 1.6% y/y - 0.5% q/q Eyes on #Fed next! https://t.co/qIXNi1aURz
Cable Jumps Towards Resistance as UK Inflation Rises

Cable Jumps Towards Resistance as UK Inflation Rises

Benjamin Spier, Technical Strategist

THE TAKEAWAY: UK inflation rises for the first time in six months -> Increased CPI could lower chance for further QE -> Cable rallies towards 1.6000 resistance level

UK inflation rose for the first time in six months as the Consumer Price Index for March came in 0.3% higher than February and climbed 3.5% on the year. The rate of inflation met monthly expectations but came in higher than the expected 3.4% when compared to March 2011. The Office for National Statistics in London released the report.

The numbers partially reflect a rise in food inflation, but are also the results of a rise in core CPI. The rise in CPI goes against the Bank of England’s forecast for a drop in inflation to 2% by year’s end. Today’s report could lower the chances of further quantitative easing measures being implemented at May’s MPC meeting.

Cable_Jumps_Towards_Resistance_as_UK_Inflation_Rises_for_First_Time_in_Six_Months_body_gbpusd.png, Cable Jumps Towards Resistance as UK Inflation Rises

Cable rose on the news of the elevated inflation and passed the 1.5950 mark. The pair is up for the day as it comes closer to the five-month resistance level of 1.6065. Sterling also rallied against the Euro after the reported inflation rise.

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

DISCLOSURES