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
GBP/USD
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
Real Time News
  • 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/Yl9vM7kO6a https://t.co/Ai9FWJJ6g7
  • 🇺🇸 MBA Mortgage Applications (23/JUL) Actual: 5.7% Previous: -4% https://www.dailyfx.com/economic-calendar#2021-07-28
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.77%, while traders in Wall Street are at opposite extremes with 74.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xocIEsnpei
  • Heads Up:🇺🇸 MBA Mortgage Applications (23/JUL) due at 11:00 GMT (15min) Previous: -4% https://www.dailyfx.com/economic-calendar#2021-07-28
  • Bitcoin (BTCUSD) putting in a decent shift and back above $40k - ignoring the 'will they/won't they?' Amazon chatter. #bitcoin #btc @DailyFXTeam Prices via @IGcom https://t.co/jXB2fP11kG
  • Further your forex knowledge and gain informed analyses from industry leaders with our free guides, available today. Download the Q3 guide:https://t.co/7G7pWntiyY https://t.co/IwfNn9HRhM
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.53% Oil - US Crude: 0.29% Gold: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ClrxkIhs94
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.25% 🇨🇭CHF: 0.03% 🇪🇺EUR: -0.03% 🇯🇵JPY: -0.13% 🇳🇿NZD: -0.21% 🇦🇺AUD: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OCHk2MUjOO
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.82% FTSE 100: 0.28% Germany 30: 0.19% US 500: 0.18% Wall Street: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Rbdrdjj6kp
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/NPHJ7riOrS
Still No Post-Brexit Hangover For UK Economy, Pound Climbs

Still No Post-Brexit Hangover For UK Economy, Pound Climbs

Martin Essex, MSTA, Analyst

Talking Points

- The Confederation of British Industry’s quarterly business optimism index climbed to +15 in January from -8 in October, its highest level since January 2015

- The data added to evidence that there has been no adverse impact so far on the UK economy from the Brexit vote to leave the EU

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

A strong set of figures released Wednesday by the Confederation of British Industry has again emphasized the lack of impact so far on the UK economy from last year’s Brexit vote to leave the European Union. The CBI’s headline quarterly business optimism index climbed to +15 in January, its highest level since January 2015, from -8 in October. An unchanged number was expected by analysts.

There were strong figures too for manufacturing order books, manufacturing output expectations, total new orders and a raft of other data, although the numbers also showed that business faces a sharp rise in costs after the British Pound’s decline in the wake of the Brexit referendum.

Those costs could come down again though, thanks to the Pound’s recent recovery. In London Wednesday GBPUSD climbed to its highest level for six weeks ahead of UK Prime Minister Theresa May’s Friday meeting with US President Donald Trump.

Chart: GBPUSD Daily Timeframe (June 2016 – January 2017)

Still No Post-Brexit Hangover For UK Economy, Pound Climbs

According to Rain Newton-Smith, the CBI Chief Economist, “UK manufacturers are firing on all cylinders right now with domestic orders up and optimism rising at the fastest pace in two years.” She added: “The weaker Pound is driving export optimism for the year ahead, but is having a detrimental impact on costs for firms and ultimately for consumers.”

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him atmartin.essex@ig.com

Don't trade FX but want to learn more? Read the DailyFX Trading Guides.

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

DISCLOSURES