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  • well said, Rich. $Gold toying with the 1800 level, around which marks 8 year highs. Still very overbought on a long-term basis. But the big question - will it matter? lots of mania themes out there rn with $TSLA $AMZN and $SHCOMP https://t.co/jkhvvyLcXi https://t.co/X8vwHhMQ9t
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.52% 🇳🇿NZD: 0.08% 🇨🇭CHF: -0.04% 🇯🇵JPY: -0.22% 🇪🇺EUR: -0.30% 🇨🇦CAD: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kOhfmaaKJO
  • EUR/USD is back below 1.1300 after hitting 1.1333 before the new forecasts were released. Get your $EURUSD market update from @nickcawley1 here: https://t.co/QGkdntQA19 https://t.co/EmUfglNVoT
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  • USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since Jun 10, 2020 when USD/JPY traded near 106.92. A contrarian view of crowd sentiment points to USD/JPY strength. https://www.dailyfx.com/sentiment https://t.co/ck5DgyBoJD
  • Risk appetite is still percolating, but that seems to be inspiring further rampant diverting of speculative appetite behind momentum favorites. Here is the ratio of the tech-heavy Nasdaq 100 relative to the S&P 500 overlaid with the $SPX alone in orange: https://t.co/zXpp9t8xat
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.62% Gold: 0.52% Silver: 0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tASoOlYjlv
  • 🇨🇦 Ivey PMI s.a (JUN) Actual: 58.2 Previous: 39.1 https://www.dailyfx.com/economic-calendar#2020-07-07
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.27%, while traders in NZD/USD are at opposite extremes with 71.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/as1FBZtMIq
  • trying to hold on to the weekly gap, $EEM testing around a few big levels of note https://t.co/5W64aEXdlW
UK Week Ahead: GBPUSD, EURGBP, FTSE & More | Webinar

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

2018-08-13 11:31:00
Nick Cawley, Strategist
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  • UK jobs, wages and inflation data may underpin a weak Sterling complex.
  • Brexit discussions re-start on Thursday – will tensions ease?

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

IG Sentiment Datashow of traders are 74.4% net-long of GBPUSD, a bearish contrarian indicator.See how daily and weekly moves can change sentiment on the pair.

Sterling Rattled by King Dollar, Risk Sentiment Wanes on Turkey

Sterling is trading below 1.2800 against a super-strong US dollar and needs a dose of good news to brake the fall. UK inflation, jobs and wages data – all expected close to last month’s prints – are unlikely to aid Sterling but Thursday’s Brexit talks may throw up some market moving news, so traders need to be attentive to market headlines.

Market sentiment remains negative due to the ongoing currency turmoil in Turkey which is helping the US dollar gain strength instead of other traditional safe-havens, notably gold.

GBPUSD continues to trade below 1.2800 and may fall further with the June 21, 2017 swing-low at 1.25891 the next target – support at 1.27738 has already been broken and closed below. The market looks oversold – RSI indicator – and any good news from the EU/UK talks could see the pair trade up towards 1.29575.

UK 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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