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
EUR/USD
Mixed
Oil - US Crude
Bullish
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
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
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.03% France 40: -0.10% US 500: -0.23% FTSE 100: -0.23% Wall Street: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/th5Y4GcBcR
  • I don't think this has any easier a path to developing into momentum ahead of the Fed decision as bullish efforts elsewhere, but the $DJI Dow is tentatively breaking lower and the Nasdaq-to-Dow ratio usually showing spec reach is rising: https://t.co/eN8xb6JOhW
  • WTI crude oil has room to rally further. Around the 77 mark lies substantial long-term resistance. Get your market update from @PaulRobinsonFX here:https://t.co/J0qpmLG6wF https://t.co/M2sThc69rK
  • In May of last year, Paul Tudor Jones made a big statement in support of #BTC - was trading under 10k at the time. https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/07/Bitcoin-Breakout-BTC-to-Fresh-Highs-JS-as-PTJ-Makes-Bull-Case-Bitcoin-to-USD.html 13 months later, he made some add'l remarks on #Bitcoin ahead of #FOMC - talked about it in this article https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/14/has-bitcoin-btc-btcusd-bottomed-ptj-makes-bull-case.html
GBP Price Could Correct Higher as UK Political Risk Recedes

GBP Price Could Correct Higher as UK Political Risk Recedes

Martin Essex, MSTA, Analyst

GBP price, news and analysis:

  • UK Prime Minister Theresa May gives the closing speech at the annual conference of her ruling Conservative Party today.
  • If it goes without mishap, a reduction in political risk could prompt an upward correction in GBP.

Check out the IG Client Sentiment data to help you trade profitably.

UK political risk set to recede

GBPUSD remains in a downtrend but as UK Prime Minister Theresa May winds up the annual conference of her ruling Conservative Party today there is a chance of a correction upwards as traders decide that the moment of peak political risk has passed.

As the chart below shows, the downtrend in GBPUSD is continuing. However, the pair is modestly higher this session and appears to be supported close to the 1.30 level for now. That suggests a possible rally to the 1.3071 – 1.3117 area, where the 100-day moving average, the 20-day moving average and trendline resistance all sit.

GBPUSD Price Chart, Daily Timeframe (June 26 – October 3, 2018)

Latest GBPUSD price chart.

Chart by IG

May is expected to tell the conference in her keynote speech that Brexit is an opportunity that opens up a “future full of promise” for the UK and to attack her critics, like former Foreign Secretary Boris Johnson, who are jostling to replace her as party leader.

UK economy buoyant

The address will follow data showing only a modest fall in the purchasing managers’ index for the dominant UK services sector, down to 53.9 in September from the previous month’s 54.3 – trivially below the 54.0 expected but well above the 50 level that separates expansion from contraction.

IHS Markit, which compiles the data, noted that the solid rate of service-sector growth was maintained in September, that the growth of business activity has eased only slightly since August and that job creation edged up to a seven-month high.

Moreover, the British Retail Consortium’s shop price index showed an increase in September for the second consecutive month, emphasizing that Brexit has yet to have the negative impact on the UK economy predicted by some of those against the UK leaving the EU.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES