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  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/3wsYlSxd26 https://t.co/z2qB9p8IgX
  • A proxy of #EmergingMarket capital flows hit its lowest since July, falling with the #SP500 after some divergence This is as #USD gained against its developing FX counterparts, highlighting potential risk of a spillover outwards Stay tuned for next week's #ASEAN fundy outlook! https://t.co/kAvpnb0EXO
  • 4 consecutive down weeks for the #SP500, last matched over a year ago #Fed balance sheet continues to gain very cautiously, now at its highest since the middle of June. Still, at slower pace than last week Focus shifts to US fiscal stimulus next week in the House of Reps https://t.co/f8zpSILm86
  • #Gold prices have broken lower and while the broader technical structure is constructive, the risk remains for a deeper correction before resumption. Get your $XAUUSD technical analysis from @MBForex here: https://t.co/7p3jPx6nQd https://t.co/nnCSdt6OV5
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.00% 🇳🇿NZD: -0.02% 🇯🇵JPY: -0.15% 🇨🇭CHF: -0.23% 🇦🇺AUD: -0.25% 🇪🇺EUR: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/O8Qb7OHZza
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.30% Gold: -0.33% Silver: -0.92% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lEALo4Z1M9
  • The S&P 500 breakdown is testing the first major zone of support and we’re looking for a reaction. Get your S&P500 technical analysis from @MBForex here:https://t.co/JrTNmQ5c7g https://t.co/D79T1134P9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.29%, while traders in EUR/GBP are at opposite extremes with 65.04%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lzTHuIgzFQ
  • US Equities Update (Friday Close): $DJI +1.34% $SPX +1.60% $NDX +2.34% $RUT +1.59% $VIX -7.93%
  • Another turbulent week for the Pound with the currency falling 1.6% against the greenback. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/WjU4oYpmf7 https://t.co/hkow2om7I6
UK Markets Week Ahead: GBPUSD, EURGBP, FTSE & More | Webinar

UK Markets Week Ahead: GBPUSD, EURGBP, FTSE & More | Webinar

2018-08-06 11:40:00
Nick Cawley, Strategist
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  • Sterling weak on growing no-deal Brexit fears.
  • Low volume markets can still be highly volatile.

The New DailyFX Third Quarter Forecasts are now live including a fresh look at GBP.

IG Sentiment Datashow of traders are 72% net-long of GBPUSD, a bearish contrarian indicator.See how daily and weekly moves can change sentiment on the pair.

UK Asset Markets Under Pressure, Sterling Buckles

GBPUSD is back below 1.3000 and currently trades at an eleven-month low after UK international trade secretary Liam Fox said that there was now a 60-40 chance of a no-deal Brexit. The remark, made over the weekend fed into the pair at the off on Monday morning, while cable weakened further as the US dollar strengthened during the session. The UK data calendar is bare with only provisional Q2 GDP on Friday, leaving Sterling currently at the mercy of bearish speculators.

The FTSE broke its negative correlation with GBPUSD – with both asset classes registering losses – although support is close by on the chart. And EURGBP continues to trend gently higher but will remain rangebound until a deal/no-deal Brexit is announced.

GBPUSD Daily Price Chart (July 2017 – August 6, 2018)

UK Markets Week Ahead: GBPUSD, EURGBP, FTSE & More | Webinar

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--- Written by Nick Cawley, Analyst

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

Follow Nick on Twitter @nickcawley1

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

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