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
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/RfUWJdNjzk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/EzdjTZEbx2
  • The Dow Jones, S&P 500 and AUD/USD could be at risk of extending losses as retail investors increase upside exposure. What are key technical levels to watch for? Find out from @ddubrovskyFX here:https://t.co/ivQmFUTGdU https://t.co/KuIoM7g9E3
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDn8ejP https://t.co/FBT1eSZdjF
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/LRL1iD3JDt
  • Even though the Australian Dollar lost some ground this week, support levels held. Bearish developments are brewing in $AUDUSD and $AUDJPY but remain unconfirmed. What else does #AUD face ahead technically? - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/24/Australian-Dollar-Technical-Forecast-AUDUSD-AUDJPY-EURAUD-GBPAUD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/0gHyXW1vHh
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/9qcanKW0uT
  • Third wave? We haven’t beaten the first wave. Until the virus is under control, the US economy won’t be able to properly heal, plain & simple. The lack of a competent response saps courage. Defeat the virus, then get people back to work. In that order. https://t.co/8R8IyTZejM
  • The British Pound may fall if EU and UK negotiators fail to reach a consensus as the December 31 deadline nears. The third presidential debate is on deck, how might markets react? Find out from @ZabelinDimitri here:https://t.co/kDSYzBDA3t https://t.co/80xL2Hyat7
  • The #Fed b/s hit a record high USD ~7.18T this week! Been awhile since I last did an update so here it is! I smoothened out analysis by using 4W moving averages You can see how into summer #SP500 growth 👇 as the b/s 👇 Since then it flipped until recent fiscal talk jitters https://t.co/4AESBo99dl
GBP/JPY Weakens Following NIESR Estimate for a Slowdown in UK Expansion in Q4

GBP/JPY Weakens Following NIESR Estimate for a Slowdown in UK Expansion in Q4

2014-01-10 15:41:00
Benjamin Spier, Technical Strategist
Share:

Talking Points:

  • NIESR estimates 0.7% GDP expansion in Q4
  • Estimate down from Q3 expansion and BoE’s prediction for Q4
  • GBP/JPY falls towards a 3-day low

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

UK GDP growth will be reported at 0.7% for the fourth quarter of 2013, suggesting 1.9% economic expansion for the year, according to an estimate by the National Institute of Economic and Social Research Institute.

The NIESR estimate came in lower than the Bank of England’s prediction that Q4 economic growth will be 0.9%. UK GDP was reported 0.8% higher in Q3, which was the fastest growth in over three years and up from 0.7% expansion in Q2.

The BoE announced in August that it will only raise interest rates once employment has fallen back below 7%, and that was followed by a comment by Governor Carney in December that the recovery may be gaining pace. Therefore, the pace of economic growth may affect the BoE’s decision for how long to maintain accommodative policy, and faster than expected growth may encourage Pound gains.

The Pound declined against the Japanese Yen following the NIESR announcement, but the fall had started well before the release and failed to break the 3-day low set earlier today at 171.35. A 2-week low at 170.40 may provide further support.

New to Forex? Watch this video

GDP/JPY 1-Minute: January 10, 2014

GBPJPY_Weakens_Following_NIESR_Estimate_for_a_Slowdown_in_UK_Expansion_in_Q4_body_Picture_1.png, GBP/JPY Weakens Following NIESR Estimate for a Slowdown in UK Expansion in Q4

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