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.

Free Trading Guides
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
Oil - US Crude
More View more
Real Time News
  • #DidYouKnow the global trade volumes dropped by close to 10% amid the Great Recession. Want to know your #tradewars history? Get it here: https://t.co/f4loFVimeY https://t.co/dsm02kQo7T
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.72%, while traders in France 40 are at opposite extremes with 87.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JPJaD7lqOJ
  • US Dollar ASEAN Ahead: IDR, MYR, Trade Talks, Bank of Indonesia #ASEAN #USD #tradewars - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/18/US-Dollar-ASEAN-Ahead-IDR-MYR-Trade-Talks-Bank-of-Indonesia.html?CHID=9&QPID=917702 https://t.co/KdtdFBrePr
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.15% 🇪🇺EUR: 0.07% 🇨🇦CAD: 0.03% 🇯🇵JPY: -0.04% 🇳🇿NZD: -0.08% 🇦🇺AUD: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/uZlNJOzt15
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.04% Wall Street: -0.06% US 500: -0.06% France 40: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MxO1wOfF99
  • Over the past 30 days, #ARS, #COP and the #MXN have been the best performing Latin American currencies vs. USD with 6.91%, 1.04% and 0.99% total returns.
  • #KRW, #PHP and the #JPY are expected to be the most active Asian currencies vs #USD with 1-week implied volatilities at 6.75, 4.92 and 4.60 respectively
  • The #JapaneseYen has posted some rare gains against the #USDollar on its daily chart, but important channel support still holds on an intraday basis. Keep a close eye on it now. https://www.dailyfx.com/forex/technical/home/analysis/usd-jpy/2019/11/18/Japanese-Yen-Gains-But-USDJPY-Up-Channel-Remains-Key.html?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr #USDJPY, #AUDJPY, #JPY
  • RT @FactSet: The forward 12-month P/E ratio for $SPX is 17.5, which is above the 5-year average (16.6) and the 10-year average (14.9). http…
  • Overnight index swaps are pricing in an 34.2% probability of a RBNZ rate cut during its next meeting on 02/12/2020 #NZD
British Pound Steady Despite Looming Hung Parliament

British Pound Steady Despite Looming Hung Parliament

2017-06-09 03:57:00
David Cottle, Analyst

Talking Points:

  • The British currency fell on initial exit polls, but has slid no further as they’ve been proved correct
  • No single party is on course for a majority
  • Horse trading may mean a “softer Brexit”, which could be supporting Sterling

Hone your market strategy with the DailyFX Trading Guide

The British Pound fell sharply in the Asia/Pacific Friday on the shock prospect of a “hung parliament” in its home country’s general election, but has steadied since even though that prospect looks all-but certain.

The incumbent Conservative Party under Prime Minister Theresa May is now extremely unlikely to get the 326 seats it would need for a majority of even one seat in the 650 seat House of Commons, and major broadcasters have called that “hung Parliament”.

This will leave all parties locked in negotiations to see whether any possible grouping can form a government in the coming days. Given the bad feeling engendered by the last coalition between the Conservative Party and the smaller Liberal Democrats, which governed in 2010, a resumption of that partnership seems unlikely.

Whoever wins the horse-trading will, on current time-tabling, have to begin negotiations with the European Union on the terms of Brexit within ten days. This now looks like an impossible schedule and, indeed, the UK may be obliged to return to the polls if no sustainable majority grouping can be formed.

GBP/USD fell from $1.29 to the $1.2698 area at some point. However, lack of inclination to fall further and its stability since, is perhaps puzzling given that a hung parliament was widely touted as the markets’ worst nightmare before the fact.

British Pound Steady Despite Looming Hung Parliament

It is possible that investors believe that some way will be found for the Conservatives to remain in office, avoiding a premiership for Labour leader Jeremy Corbyn. His policies are viewed as far less market friendly. It may also be the case that markets now foresee a “softer” Brexit, or perhaps even another referendum on the subject – again supporting the Pound.

Another likely Sterling support could be awful performance of the Scottish National Party, which favors independence for Scotland. It seems likely now that the UK will at least remain whole for the foreseeable future, which may have helped the currency.

--- 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.


News & Analysis at your fingertips.