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
  • 🇲🇽 Unemployment Rate (OCT) Actual: 4.7 Expected: 5% Previous: 5.1%
  • 🇲🇽 Mid-month Inflation Rate YoY (NOV) Actual: 3.43 Expected: 3.63% Previous: 4.09%
  • 🇲🇽 Mid-month Inflation Rate MoM (NOV) Actual: 0.04% Expected: 0.24% Previous: 0.54%
  • GBPCHF remains interesting...all 3 moving averages look positive, with added 50-/200-sdma 'golden cross' being formed, horizontal resistance being probed #sterling #gbpchf @DailyFXTeam
  • Heads Up:🇯🇵 BoJ Gov Kuroda Speech due at 12:05 GMT (15min)
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.82%, while traders in NZD/USD are at opposite extremes with 74.94%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇲🇽 Unemployment Rate (OCT) due at 12:00 GMT (15min) Expected: 5% Previous: 5.1%
  • Heads Up:🇲🇽 Mid-month Inflation Rate MoM (NOV) due at 12:00 GMT (15min) Expected: 0.24% Previous: 0.54%
  • Heads Up:🇲🇽 Mid-month Inflation Rate YoY (NOV) due at 12:00 GMT (15min) Expected: 3.63% Previous: 4.09%
  • Gold looks sick...and not in the youth 'really brilliant' kind of way...#gold #xauusd @DailyFXTeam
GBP Steady as Bank of England Stands Pat on Monetary Policy

GBP Steady as Bank of England Stands Pat on Monetary Policy

2017-12-14 12:11:00
Nick Cawley, Strategist

Talking Points

- Sterling remained range bound after the Bank of England left monetary policy unchanged, as expected.

- BOE says recent progress in Brexit talks reduce the likelihood of a ‘disorderly exit.’

Check out our new Trading Guides: they’re free and have been updated for the fourth quarter of 2017

The Bank of England (BOE) left all monetary policy measures unchanged as expected Thursday, but warned that UK Q4 growth may be slightly weaker than Q3. The Bank Rate remained at 0.50%, the Asset Purchase Target at GBP435 billion and the Corporate Bond Target at GBP10 billion. The central bank also said that inflation is ‘close to its peaks’ and will decline towards 2% target in the medium term. They added that wage growth has been in line with expectations, after disappointing in previous years.

Recent data from the ONS showed UK inflation hitting 3.1%, up from 3% in October, the highest level in nearly six years due to the rising cost of computer games while air fares fell more slowly than this time last year. In addition, UK unemployment remained at a 40-year+ low while nominal wages rose to 2.5%.

GBP/USD remained fairly muted post-release, trading around 1.34200. On the other side of the pair, the US dollar remains weak Thursday despite the Federal Reserve hiking interest rates at last night’s FOMC meeting and indicating that there would likely be three more hikes in 2018.

GBP/USD Price Chart: One Minute Timeframe (December 14, 2017)

GBP Steady as Bank of England Stands Pat on Monetary Policy

Chart by IG

IG Client Sentiment data show 45.5% of traders are net-long GBP/USD with the ratio of traders short to long at 1.2 to 1. The number of traders net-long is 20.1% lower than yesterday and 1.6% lower from last week, while the number of traders net-short is 13.9% higher than yesterday and 3.7% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBPUSD-bullish contrarian trading bias.

DailyFX provide a wide range of free, constantly updated Trading Guides including Forex for Beginners, Top Trading Lessons and The Number One Mistake Traders Make.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

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