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
GBP/USD
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
More View more
Real Time News
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open https://t.co/BKCLJTDk9h
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here: https://t.co/n0CVWWOJDe https://t.co/0uLjsQ2gwM
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/nfiFAlyYXv
  • 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/Blrl0unrdT https://t.co/mIsVJ4zTbB
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/hymrumanUY
  • 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/kODPAfs2Iz https://t.co/6dAqxsVfxJ
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here: https://t.co/Xu3ZT7EtrW https://t.co/5VHKn52MaA
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHq4Np https://t.co/mf9rsmIvaW
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/mYWO0Eta0P
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here: https://t.co/ZvEMQuFjSs https://t.co/rMmq9cehnY
Asia AM Digest: GBP Down and JPY Up Ahead of Illiquid Conditions

Asia AM Digest: GBP Down and JPY Up Ahead of Illiquid Conditions

DailyFX Research,

To get the Asia AM Digest every day, SIGN UP HERE

The British Pound was broadly speaking the worst performing major on Thursday. Its descent though was unaccompanied with a major catalyst. However, Sterling did decline with front-end local government bond yields. This hints at ebbing hawkish Bank of England monetary policy expectations. In addition, traders might may have taken some profits ahead of the holiday weekend. GBP/USD has spent most of March rising.

Meanwhile the anti-risk Japanese Yen was one of the best performing currencies. The Yen was initially boosted by declines in the Nikkei 225 during the first half of the day. Then, it held its ground even though stocks rose during the US session. There was a Japanese 2-year bond auction where average yields rose to -0.138% from -0.160%. That might speak to heightened appeal of JPY-denominated assets.

The Euro underperformed as well. German CPI for the March preliminary estimate missed expectations coming in at just 1.6% y/y versus 1.7% expected. Given the incoming Good Friday holiday, expect illiquid trading conditions with stock markets closed in places such as Australia, Canada, New Zealand, UK and the US.

DailyFX Economic Calendar: Asia Pacific (all times in GMT)

Asia AM Digest: GBP Down and JPY Up Ahead of Illiquid Conditions

IG Client Sentiment Index Chart of the Day: AUD/USD

Asia AM Digest: GBP Down and JPY Up Ahead of Illiquid Conditions

CLICK HERE to learn more about the IG Client Sentiment Index

Retail trader data shows 55.2% of AUD/USD traders are net-long with the ratio of traders long to short at 1.23 to 1. In fact, traders have remained net-long since Mar 22 when AUD/USD traded near 0.77738; price has moved 1.4% lower since then. The number of traders net-long is 8.5% higher than yesterday and 17.4% higher from last week, while the number of traders net-short is 0.7% lower than yesterday and 3.4% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUD/USD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/USD-bearish contrarian trading bias.

Five Things Traders are Reading:

  1. Q2 Preview: USD Weakness, Yen Strength, Equity Vol in the Spotlight by James Stanley, Currency Strategist
  2. Traders May Dump Gold According to Sentiment by Dylan Jusino, DailyFX Research
  3. Cryptocurrency Technical Outlook: Bitcoin, Ether, Ripple and Litecoin by Michael Boutros, Currency Strategist
  4. The Impact of Tariffs and Trade Wars on the US Economy and the Dollarby Christopher Vecchio, Senior Currency Strategist
  5. EUR/USD, GBP/USD Test Support; USD Jumps to 90.00 as Quarter-End Nearsby James Stanley, Currency Strategist

To get the Asia AM Digest every day, sign up here

To get the US AM Digest every day, sign up here

To get both reports daily, sign up here

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

DISCLOSURES