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
More View more
Real Time News
  • ✨FOMC Live Webinar | DailyFX Asia @DailyFXasia 🆓Register For Free ✏️Language: Chinese ⏱️Time: 2021/07/29 01:50 (GMT+8) ✏️Details: https://t.co/tSKSj8lCzU Feel free to join in, if you ae interested in July FOMC Meeting 😄
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 0.04% US 500: -0.19% Wall Street: -0.22% Germany 30: -0.33% FTSE 100: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/EFE5Znr1AI
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/dTQqfHXNtM
  • Gold Prices Test $1800 Ahead of Fed Meeting, Real Yields Fall https://www.dailyfx.com/forex/market_alert/2021/07/27/Gold-Prices-Test-1800-Support-ahead-of-Fed-Meeting-Real-Yields-Fall.html
  • The Hang Seng Tech index tumbled 5.4% amid intensified fears about China's regulatory risk on various sectors. - Tencent (-6.2%) - Alibaba (-5.0%) - Meituan (-13.9%) - Hang Seng Index (-2.5%)
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/A0w6mhPMvH
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.33%, while traders in Wall Street are at opposite extremes with 79.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AY4wL5b1NV
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/NrcUfXKP8J
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.16% 🇬🇧GBP: 0.05% 🇪🇺EUR: 0.00% 🇦🇺AUD: -0.02% 🇨🇭CHF: -0.03% 🇳🇿NZD: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UwJz4Gv6hT
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.12% FTSE 100: -0.02% Germany 30: -0.04% US 500: -0.16% Wall Street: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cGDe8jiSqf
BOE's Carney Reassures Over Brexit Risks, Sterling Emboldened

BOE's Carney Reassures Over Brexit Risks, Sterling Emboldened

Nick Cawley, Strategist

Talking Points

- BOE says whatever happens with Brexit, the central bank will be able to balance growth and inflation.

- GBPUSD remains at the top end of the day’s trading range.

Check out our new Trading Guides: they’re free and have been updated for the fourth quarter of 217

Speaking at the Bank of England’s Future Forum – an annual event to discuss the bank’s role in serving society - Governor Mark Carney said that while the UK’s departure from the European Union posed risks, the BOE would be ‘nimble enough’ to move monetary policy to bring inflation back to target while continuing to support the economy.

Inflation in the UK has been above target (around 2%) since February of this year as the effects of a weaker Sterling imported inflation into the UK. The central bank hiked interest rates on November by 0.25% to 0.50%, the first rate hike in a decade, in an effort to control overheating consumer price pressure. Further hikes are not expected until mid-late 2018 as the BOE continues to monitor tepid UK growth.

BOE's Carney Reassures Over Brexit Risks, Sterling Emboldened

Governor Carney also added that it was important what Brexit deal the UK finally negotiates and the timing of the deal, on the same day that it was rumored that European Council President Donald Tusk would recommend that Brexit talks progress towards the second phase when he meets UK PM Theresa May on Friday. This recommendation however would be contingent on the UK meeting the EU’s requirements on the exit bill, the Northern Ireland border and EU/UK citizen’s rights. Earlier today, various media outlets suggested that the UK would be willing to pay an additional GBP 20 billion towards the exit bill along with the original GBP18 billion promised by the PM at her recent speech in Florence.

GBPUSD has remained resilient over the last few days as market participants continue to believe that progress will be made in Brexit talks. Any confirmation that the EU will allow the UK to start post-Brexit trade talks will push GBP back towards the 1.3300/1.3400 level and potentially higher. However, any further delays in talks will leave GBP vulnerable to a sell-off, with a close below the monthly low of 1.3040 opening the way lower. DailyFX analyst David Song looked at the latest GBPUSD set-up here.

Chart: GBPUSD Two Hour Timeframe (November 10-16, 2017)

BOE's Carney Reassures Over Brexit Risks, Sterling Emboldened

Chart by IG

Would you like to know the Traits of Successful Traders and how to find the Number One Mistake Traders Make? If so, click here.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

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

DISCLOSURES