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.

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
EUR/USD
Mixed
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • After rising back above the 1.60% level to a high around 1.63% earlier today, US 10yr Treasury yields have moved back lower. They are now trading around an intraday low of 1.56%. $USD https://t.co/5hQglZl4fU
  • Discord has walked away from sale talks with $MSFT now eyeing potential IPO
  • here we go, webinar starting right now 1) USD Q2 Weakness 2) Gold brewing bullish potential? 3) Stonks through initial earnings outlays https://www.dailyfx.com/webinars/643096611 https://t.co/ZzY8QuoCko
  • The Euro has slipped to an intraday low amidst the German Greens surging to a lead over Merkel's CDU in a new poll. $EUR $USD https://t.co/gfvNseRNvc
  • $USDCAD has strengthened today, rising to a one week high near the 1.2600 level. The Canadian Dollar has suffered amidst a drop in oil prices and extended travel restrictions. $USD $CAD https://t.co/O2z7grrFYi
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RVkYfiOzPq
  • In line with the general risk-off sentiment, oil prices have come under notable selling pressure with both Brent and WTI crude futures falling 2-2.5%. Get your #crudeoil market update from @JMcQueenFX here:https://t.co/K0zJL8BFj1 https://t.co/wMn3kNFhwC
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: 0.49% Silver: 0.42% Oil - US Crude: -1.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/CqYIho6z47
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.08% 🇯🇵JPY: 0.07% 🇪🇺EUR: 0.04% 🇦🇺AUD: -0.17% 🇬🇧GBP: -0.23% 🇨🇦CAD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GC3sr4bk5B
  • - Recovery in the US is improving - The increase in Covid cases is concerning, but vaccines give optimism for a return to more normal conditions later this year
Forex News: Sterling Continues to Erase Losses as Euro Fails to Find a Spark

Forex News: Sterling Continues to Erase Losses as Euro Fails to Find a Spark

Benjamin Spier, Technical Strategist

The British Pound continued its rally higher today, apparently correcting some of the losses made in the 600 point decline that started at the beginning of the year.

The GBP/USD rally began when UK Nationwide House Prices were reported 0.5% higher in January, which was better than expectations for a 0.2% rise in house prices. Cable traders brought the currency 40 points above the 1.5800 line, and the pair is trading around 1.5816 at the time of this writing. A 5-month low recently set at 1.5674 could now provide support, while a broken support at 1.5840 could now provide resistance.

In Switzerland, the SNB released its fourth quarter foreign currency holdings. The SNB said Euro holdings increased from 48% to 49%, while the Yen holdings dropped from 9% to 8%. US Dollar holdings were unchanged at 28%.

In Germany, economic releases told two different stories about the economy. Retail sales dropped by a record amount in December, while a record number of Germans found work in January. However, neither release had significant effect on Euro price action in Forex markets.

Also in the Euro-zone, Greece retail sales dropped 16.6% in November from a year earlier, which is better than the 17.1% decline in October.

Later today, the Canadian GDP for November will be released at 13:30 GMT, 0.2% economic growth is expected.

GBPUSD Daily: January 31, 2013

Sterling_Continues_to_Erase_Losses_as_Euro_Fails_to_Find_a_Spark_body_gbpusd.png, Forex News: Sterling Continues to Erase Losses as Euro Fails to Find a Spark

Chart created by Benjamin Spier using Marketscope 2.0

--- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES