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
Bullish
Oil - US Crude
Bearish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
Breaking news

UK-EU trade deal talks have entered tunnel talks, GBP/USD Spkes to Highs

Real Time News
  • USD/CAD: From a trading standpoint, a good zone to lighten short-exposure lower protective stops – be on the lookout for inflection here early in the month. Get your $USDCAD market update from @MBForex here:https://t.co/dRIjXRT14r https://t.co/THCTW45z4e
  • US Dollar Breaches Big Support, Builds Evening Star on M1 https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/12/01/US-Dollar-Breaches-Big-Support-Builds-Evening-Star-on-M1.html
  • Senate Majority Leader McConnell says waiting until next year for another fiscal stimulus to combat the coronavirus impact is "not an answer". Let's see if the Senate and House can close that <$1 tln to >$2 tln gap between their respective proposals...
  • Heads Up:🇺🇸 Fed Evans Speech due at 20:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-12-01
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 5.87% Gold: 2.09% Oil - US Crude: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FXkNUAL3p2
  • As EUR/USD rates probe through range resistance, both EUR/CHF and EUR/JPY rates are nearing bullish breakout levels. Get your $EURUSD market update from @CVecchioFX here:https://t.co/DlHULz4gdB https://t.co/PzkVeNS0IT
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.56%, while traders in EUR/USD are at opposite extremes with 76.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Jvo7Nl496H
  • it's that webinar time... topics for today a) USD breakdown, 2 year lows b) Gold strength shows, blip or beacon? c) EUR/USD & life above 1.2000, ECB on Deck (12-10) starting right meow https://www.dailyfx.com/webinars/455809179 https://t.co/RxsvujmVxs
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: US 500: 1.39% Wall Street: 0.94% France 40: -0.10% Germany 30: -0.11% FTSE 100: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/j1F1eCqSTc
  • The price of gold bounces back from the November low ($1765) to snap the series of lower highs and lows carried over from late last week. Get your $XAUUSD market update from @DavidJSong here:https://t.co/vfO3IwwnYT https://t.co/bGj7oK9uQk
Brexit-Battered British Pound Lets Rightmove Survey Pass it By

Brexit-Battered British Pound Lets Rightmove Survey Pass it By

2017-01-16 02:13:00
David Cottle, Analyst
Share:

Talking Points:

  • UK house prices rose quite sharply on the month in January, according to Rightmove
  • Their 0.4% gain came after a 2.1% slip the month before
  • However, the Brexit-mired BritishPound was in no mood to celebrate

News of steady house prices in the United Kingdom couldn’t do much to bolster a British Pound beset once again by Brexit worries on Monday.

The average cost of a home rose by 0.4% on the month in January, according to property website Rightmove. This was much better than December’s 2.1% fall and suggests that the market is reviving again after the usual holiday-season lull. Prices were up 3.2%compared with January 2016, which was a little less than December’s 3.4% on-year rise.

The British Pound did manage to twitch up against the US Dollar in the immediate aftermath of the figures, with GBP/USD getting up to 1.20473 from 1.20370 just before their release.

However, this is an extremely modest resurgence compared to the 1.5% gap lower for the UK currency against its major counterparts earlier on Monday. The unit has come under significant pressure as investors worry that UK Prime Minister Theresa May will outline plans for a “hard Brexit”– entailing loss of free UK access to the single market – when she makes what’s being billed as her most important speech on the subject on Tuesday.

The Sunday Times reported that May will give her personal backing to the UK leaving both the European single market and the customs union in order to regain the freedom to limit immigration and secure trade deals with other countries.

This issue will be the overwhelming focus for Sterling markets this week, which probably means that comparative data crumbs such as the Rightmove survey will continue to pass them by.

British Pound feels the heat:

Brexit-Battered British Pound Lets Rightmove Survey Pass it By

Chart compiled using TradingView

It may be your favorite currency, but is it anyone else’s? Take a look at the DailyFX sentiment page.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter: @DavidCottleFX

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

DISCLOSURES