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.



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
More View more
Real Time News
  • The latest US Conference Board consumer confidence fell to the lowest level since February, the headline reading dropping to 109.3, below expectations for 114.5. Get your $USD market update from @JMcQueenFX here:
  • $SPX Daily . . Know the Levels. . . #SPX
  • ...that said, I like volatility; so by all means, bring in a person that gets these markets rocking and rolling again
  • Saying Powell is a dangerous man is disingenuous. The Fed has done very well with its dual mandate and their efforts to steady the markets for Main and Wall Street has further fed the financial bubbles we continue to blow. $VIX
  • Fed's Powell: The Fed will not be able to shield financial markets and the economy from the fallout of a US default $USD $ES_F $SPX
  • ...also worth noting, this is the Cable's biggest dive (-1.15% at present) since Sep 10, 2020
  • While EURUSD is still holding the floor on its nearly year-long range, $GBPUSD looks like it is making a play for its head-and-shoulders 'neckline' break with this 1.3600 break
  • With the charge in Treasury yields after the debt ceiling warning today, I'm going to move the likes of $TLT (the iShares 20+ year Treasury ETF) closer to the top of my watch list. Let's see where volume ends up today
  • AUD/USD appears to be stuck in a narrow range following the kneejerk reaction to the Federal Reserve interest rate decision. Get your $AUDUSD market update from @DavidJSong here:
GBP Faces a Challenging Week of Heavyweight Data; Brexit Vote

GBP Faces a Challenging Week of Heavyweight Data; Brexit Vote

Nick Cawley, Strategist

GBP News and Talking Points

- UK Inflation and wages data key.

- Government seeks to reverse 15 House of Lords amendments to the EU withdrawal bill.

The IG Client Sentiment Report shows that traders are just under 70.4% long GBPUSD – a bearish contrarian signal. However, the combination of current sentiment and recent changes gives us a stronger bearish GBPUSD trading bias.

GBP Faces a Pivotal Week

Sterling’s nascent rally may come pressure thisweek when the Office for National Statistics release their monthly UK wages, employment and inflation data over the next two days. While wages and employment are expected to stay steady, inflation data on Wednesday may well produce a beat to the upside, pushed higher by a strong oil complex. The Bank of England is fully expected to leave monetary policy levers untouched at its next meeting but an uptick in inflation may increase hawkish calls for a 0.25% rate hike at the August MPC meeting.

Live Data Coverage – UK Jobless Claims and Wages Data – 08:15 GMT Tuesday June 12.

Live Data Coverage – UK Consumer Price Inflation Data – 08:15 GMT Wednesday June 13.

GBP Faces a Challenging Week of Heavyweight Data; Brexit Vote

Brexit Amendment Vote is Crucial for PM Theresa May

Sterling traders will also be keeping a close watch on proceedings in the House of Commons where MPs will be voting on 15 House of Lords amendments to the EU Withdrawal Bill. These amendments include requiring the UK to negotiate a customs union with the EU before passing the final bill and giving parliament more power of approval to the final EU Withdrawal Bill, both red lines for UK PM Theresa May.

The British Pound also faces potential headwinds from both the FOMC on Wednesday and the ECB on Thursday. The Fed is fully expected to hike rates by 0.25% for the second time this year while ECB President Mario Draghi may lay out a timetable for ending quantitative easing in the single-bloc.

GBP Starts the Week in Negative Territory

The latest UK industrial and manufacturing output data – both much weaker than expected – has put the British Pound on the backfoot ahead of this week’s crucial events. GBPUSD gave up initial gains and fell back down to 1.33660 post-release and the near-term set-up remains negative with 1.33020 the next level of noted support. The pair are now trading below all three moving averages while the RSI indicator is pointing sharply lower.

GBPUSD Four Hour Price Chart (April 15 – June 11, 2018)

GBP Faces a Challenging Week of Heavyweight Data; Brexit Vote

DailyFX Economic Calendar.

Traders may also be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts may be interested in our latest Elliott Wave Guide.

--- 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.