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
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
Wall Street
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
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
Bearish
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.44% FTSE 100: 0.20% Germany 30: 0.06% Wall Street: -0.05% US 500: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CmoovLKXzs
  • 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/LMgAzv7YCl
  • Build you crude oil strategy with some basic key insights. Hone your trading skills here: https://t.co/ekflhEeXRX https://t.co/f0JRsJeebc
  • 🇿🇦 Inflation Rate YoY (MAR) Actual: 3.2% Expected: 3.2% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-04-21
  • 🇵🇱 Employment Growth YoY (MAR) Actual: -1.3% Expected: -1.3% Previous: -1.7% https://www.dailyfx.com/economic-calendar#2021-04-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.68%, while traders in EUR/USD are at opposite extremes with 65.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cscTNspIcj
  • Heads Up:🇿🇦 Inflation Rate YoY (MAR) due at 08:00 GMT (15min) Expected: 3.2% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-04-21
  • Heads Up:🇵🇱 Employment Growth YoY (MAR) due at 08:00 GMT (15min) Expected: -1.3% Previous: -1.7% https://www.dailyfx.com/economic-calendar#2021-04-21
  • German Court rejects EU recovery package-related injunction $EUR
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0uF2Ct https://t.co/riBqX0OXx2
British Pound Tumbles After Carney Rules Out UK Rate Rise

British Pound Tumbles After Carney Rules Out UK Rate Rise

Martin Essex, MSTA, Analyst

Talking Points

- The British Pound tumbled against the US Dollar and the Euro after Bank of England Governor Mark Carney said now is not the time to raise UK interest rates.

- UK 10-year government bond yields fell below 1% and interest rate futures climbed.

- Don’t miss the European Desk Round Table webinar, starting at 1000 GMT.

Sterling fell sharply in Europe Tuesday after Bank of England Governor Mark Carney said in his delayed Mansion House speech that now is not the time to raise UK interest rates.

His speech will likely be seen as a response to the recent 5-3 vote by the Bank’s monetary policy committee to keep rates on hold – with the three dissenters all voting for an increase. While the markets are still not expecting UK rates to be raised for many months if not years, his speech reinforces the view of the BoE staff on the committee that to do so would be a mistake. Following it, GBP/USD fell to its lowest level for a week.

Chart: GBP/USD Five-Minute Timeframe (June 20, 2017)

British Pound Tumbles After Carney Rules Out UK Rate Rise

Chart by IG

The Pound also weakened against the Euro, with EUR/GBP jumping from 0.8740 to 0.88 in the immediate aftermath of the speech. The yield on ten-year Gilts – UK government bonds – fell below 1% for the first time since June 15 and short sterling interest rate futures climbed.

Carney warned of weak wages growth and a likely hit to incomes as the UK prepares to leave the European Union.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

If you’re looking for trading ideas, check out our Trading Guides; they’re free and updated for the second quarter of 2017

If you’re looking for ideas more short-term in nature, check out the IG Client Sentiment Data

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

DISCLOSURES