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
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It was a big Q1 for $USDJPY but so far Q2 has been a far different tone. Which side will prevail? Get your market update from @JStanleyFX here:
Pound Declines on an Estimate for Slower GDP Growth

Pound Declines on an Estimate for Slower GDP Growth

Benjamin Spier, Technical Strategist

Talking Points:

  • NIESR predicts slower growth in 3-months ending in October
  • BoE said rates reliant on employment improvement
  • GBP/USD falls below 1.6100

Want to trade with proprietary strategies developed by FXCM? Find out how here.

The pace of UK gross domestic product growth declined slightly in the three months ending in October, according to the monthly estimate release by the National Institute of Economic & Social Research. Three-month GDP growth was estimated at 0.7% for October, which was lower than the official 0.8% economic growth reported for the third quarter ending with September.

The NIESR release comes one day ahead of the Bank of England rate decision, and the central bank said last month that it will keep interest rates at a record low for the foreseeable future, despite signs of a strengthening economy. Furthermore, the UK PMI indicated that economic activity in the services sector accelerated at the fastest pace in 16 years in October. The BoE has said it will not raise interest rates until unemployment falls to 7%, meaning worse economic releases are Pound negative.

That is why the Pound declined 20 pips and below 1.6100 against the US Dollar following the release. GBP/USD may next see support by the key 1.6000 figure, and a 10-month high at 1.6260 may provide resistance.

New to Forex? Watch this video

GBP/USD 1-Minute: November 6, 2013

Pound_Declines_on_an_Estimate_for_Slower_GDP_Growth_body_Picture_1.png, Pound Declines on an Estimate for Slower GDP Growth

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

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