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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • The US Dollar (via the DXY Index) has hit fresh lows amid the latest headlines around US fiscal stimulus talks. Get your market update from @CVecchioFX here:
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: 0.22% Oil - US Crude: 0.14% Silver: -0.21% View the performance of all markets via
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.12% 🇨🇭CHF: 0.09% 🇪🇺EUR: 0.08% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.03% 🇳🇿NZD: -0.03% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.68%, while traders in EUR/USD are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX:
  • The British Pound is eyeing a push to fresh yearly highs against the US Dollar. However, various technical setups suggest GBP could lose ground to JPY, EUR and NZD in the near term. Get your $GBP market update from @DanielGMoss here:
  • The Dow Jones index appears to be ranging between 22,920 to 30,000 over the past few weeks. The overall trend remains bullish biased, but its upward momentum is fading as Bollinger Band width narrows. A decisive break above 30,000 resistance may open the door for further upside.
  • Update on #Cryptocurrencies #BITCOIN -0.46% #BITCOINCASH -0.24% #ETHEREUM -0.78% #RIPPLE +0.83% #LITECOIN +0.77%
  • Wall Street Futures Update: Dow Jones (-0.110%) S&P 500 (-0.082%) Nasdaq 100 (+0.086%) [delayed] -BBG
  • 🇨🇳 Caixin Services PMI (NOV) Actual: 57.8 Previous: 56.8
  • BoJ's Suzuki: - Flexibility and sustainability in policy is vital - Supporting growth strategy in the long term is vital - Must support labor market - BBG $USDJPY
GBP/USD Holds On to Gains As UK Data Suggest Patchy Start to Q3

GBP/USD Holds On to Gains As UK Data Suggest Patchy Start to Q3

2017-09-08 09:04:00
Martin Essex, MSTA, Analyst

Talking Points

- The British Pound is well placed to extend its gains against the US Dollar but the outlook is less positive against the Euro and the Yen.

- The UK manufacturing sector is holding up well but the trade data are less positive.

Check out our Trading Guides: they’re free and have been updated, with several new ones now available including Forex for Beginners, Building Confidence and Traits of Successful Traders

The British Pound still looks set for further gains, particularly against the weakening US Dollar, despite data showing that the UK economy has made a patchy start to the third quarter of the year.

Manufacturing output increased by 0.5% month/month in July, compared with zero growth the month before, and by 1.9% year/year, up from the previous 0.6%. That brings the official figures more in line with the survey data and the purchasing managers’ indexes for the sector that have consistently pointed to a better performance than the official numbers. Both of the latest figures were higher than economists’ consensus forecasts.

However, the visible trade deficit was little changed at £11.6 billion in July from a revised £11.5 billion the month before, which was disappointing given that the Pound’s earlier weakness might have been expected to reduce the deficit.

Would you like to know what to expect in the UK in the coming week? Listen in to my colleague Nick Cawley’s webinar at 1130 GMT.You can sign up here

Overnight, the British Chambers of Commerce warned that the UK economy is “treading water” ahead of Brexit and downgraded its forecasts for growth over the next two years, It predicted an increase in GDP of just 1.2% in 2018, rising only marginally to 1.4% in 2019.

Meanwhile, consumers’ expectations for inflation a year ahead remained at 2.8% in August, unchanged from May, while construction output dropped by a hefty 0.9% month/month in July rather than the predicted 0.2% drop.

In the FX markets, GBP/USD was little changed on the data but is still well placed to extend its gains for a fourth successive day, with little resistance ahead of the 1.3268 high from August 3.

Chart: GBP/USD Daily Timeframe (April 27 – September 8, 2017)

GBP/USD Holds On to Gains As UK Data Suggest Patchy Start to Q3

Chart by IG

Against other currencies, the Pound is making less progress: broadly flat against both the Euro and the Japanese Yen over the past week.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at

Follow Martin on Twitter @MartinSEssex

For help to trade profitably, check out the IG Client Sentiment data

And you can learn more by listening to our regular trading webinars; here’s a list of what’s coming up

Like to know about the Traits of Successful Traders? Just click here

Or New to Forex? That guide is here

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