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UK Week Ahead: Brexit and Risk in Control of GBP and FTSE | Webinar

UK Week Ahead: Brexit and Risk in Control of GBP and FTSE | Webinar

Nick Cawley, Strategist

The latest ramp-up by the US in the trade disputes with China and more recently the EU has sent market participants to the sidelines with risk-off trades favored by those interested in trading. Sterling remains weak against the US dollar, but this isn’t helping the FTSE 100 which is down around 1%. EURGBP remains stuck in a rut, and likely to remain there, while GBP-crosses against NZD and CAD still have potential upside movement.

IG Client Sentiment data show that traders are 26.8% net-long of the FTSE 100 with recent positional changes giving us a stronger bullish contrarian signal.

Other trading topics covered include –

  • The latest EU Summit meeting on June 28-29 will discuss any progress made in Brexit negotiations and the outlook doesn’t look good for the UK as it stands.
  • UK markets remain risk-off with the FTSE 100 down over 1% while Sterling drifts lower against both the USD and EUR.
  • If you missed this webinar and would like to know about future events, you can see the full DailyFX webinar schedule here.

DailyFX has a vast amount of updated resources to help traders make more informed decisions. These include a fully updated Economic Calendar, Educational and Trading Guides and the constantly updated IG Client Sentiment Indicator.

--- Written by Nick Cawley, Analyst

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

Follow Nick on Twitter @nickcawley1

https://www.dailyfx.com/sentiment?ref-author=Cawley.

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

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