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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
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
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/3rXsyuSemd
  • Nasdaq 100 Rebounds as Tapering Fears Ease, Hang Seng and ASX 200 Climb https://www.dailyfx.com/forex/market_alert/2021/06/22/Nasdaq-100-Rebounds-as-Tapering-Fears-Ease-Hang-Seng-and-ASX-200-Climb.html https://t.co/NZxRtj3rNa
  • ANZ Bank sees New Zealand house prices increasing by 0.7% in 2022 - BBG
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/9ZUHvkEw7R
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/aGz502atu0
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/OibiizbywE
  • Wall Street futures pointing slightly higher heading into morning Tuesday APAC trade: Dow Jones (+0.19%) S&P (+0.16%) Nasdaq (+0.11%) -BBG
  • Get our analysts’ view on the key fundamentals for Oil in Q2. Download now. https://t.co/bXrPHkaSCn https://t.co/3CjqFS8nZn
  • The Bullish Cup and Handle that has been brewing in $USDTHB for some time is now on the verge of breaking higher Pushing above key resistance (around 31.606) exposes the July 2020 high at 31.858 towards peaks from the same year Learn more here - https://www.dailyfx.com/forex/technical/article/special_report/2021/06/15/US-Dollar-Technical-Outlook-USDSGD-USDTHB-USDIDR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/nugdcoHDNy
  • No change in interest rates is expected, but the central bank could adopt a more hawkish language in response to the deteriorating inflation outlook. Get your market update from @DColmanFX here:https://t.co/esLi7FLRNH https://t.co/t7RqVjIf9X
GBPUSD Buffeted By Brexit and US President Trump

GBPUSD Buffeted By Brexit and US President Trump

Nick Cawley, Strategist

Sterling Price and Talking Points

- US trade tariffs continue to reverberate around the market.

- UK PM May’s Brexit hopes take an EU knock-back.

Top Trading Lessons and Traits of Successful Traders – Number One Mistakes Traders Make are two of our most popular and well-read Free Trading Guides.

GBPUSD Buffeted on Both Sides

The prospect of a global trade war and ongoing Brexit concerns are the two main drivers of GBPUSD this week until the monthly US NFP numbers are released on Friday. However four US Fed speakers are out on the wires Wednesday so traders need to pay attention.

US President Trump’s decision to impose tariffs on steel and aluminium products last week sent a shiver through the US dollar, which gave back a lot of its recent gains. After having touched a multi-week high last Thursday the US dollar faded on commentary by POTUS with traders now looking ahead to Friday’s US non-farm payrolls numbers. Ahead of the monthly release, four Fed officials will opine tomorrow with traders looking for any hints on US monetary policy.

GBPUSD Buffeted By Brexit and US President Trump

Last Friday UK PM Theresa May outlined her vision for the UK post-Brexit to a mildly positive market reaction with EU Brexit negotiator Michel Barnier ‘welcoming’ the clarity of May’s speech. Sterling rose in late-Monday trade after the UK PM told Parliament that “We are close to an agreement on the terms of a time-limited implementation period to give governments, businesses and citizens on both sides time to prepare for our new relationship.”

However commentary by EU Brexit adviser Stefaan de Rynck at an LSE lecture Monday seemes to have poured cold water on PM May’s hopes for securing a free-trade deal. De Rynck said that the rules of the single market were not compatible with May’s suggestion of mutual recognition of standards.

“The EU has moved away in the wake of the financial crisis from mutual recognition of national standards to a centralised approach with a single EU rule book and common enforcement structures and single supervisory structures.”

GBPUSD Three Hour Price Chart (February 12 – March 6, 2018)

GBPUSD Buffeted By Brexit and US President Trump

Chart by IG

What’s your opinion on GBPUSD – Still being driven by Brexit?Share your thoughts with us using the comments section at the end of the article or you can contact the author via email at nicholas.cawley@ig.com or via Twitter @nickcawley1.

--- Written by Nick Cawley, Analyst

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

DISCLOSURES