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.

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
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
Oil - US Crude
Mixed
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
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • NY Fed's GDP Nowcast model sees US Q1 GDP at 6.9% vs. 6.78% in prior week. #Fed $USD
  • Hey traders! Wrap up your week with a market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/zOiAQGMNzY
  • $EURGBP has strengthened today, rising back above the 0.8700 level for the first time in a week. The pair is trading near the highs set in mid April and late February. $EUR $GBP https://t.co/RSkMhvLQEQ
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇦🇺AUD: 0.29% 🇨🇦CAD: 0.10% 🇬🇧GBP: 0.06% 🇨🇭CHF: 0.06% 🇯🇵JPY: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OODkBySEaS
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.66% Wall Street: 0.42% FTSE 100: -0.13% France 40: -0.28% Germany 30: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0PTPoUF2Jz
  • #Gold has slipped to its lowest level since Tuesday today. After meeting resistance around 1,795 this morning, the precious metal fell back to trade near the 1,770 level. $XAU $GLD https://t.co/tOiSk0n6t5
  • Biden’s proposed tax hike sees investors unload profitable assets. Bitcoin intensifies losses, falls below $50,000. Get your $btc market update from @Daniela here:https://t.co/pkHFvFotbz https://t.co/1R7T4HpfQX
  • With the US data beating expectations, we have all of the major developed world economies reporting April PMIs with a significant improvement in economic activity for the current month. Seems only black swans and regulations can stop the train now... https://t.co/HpOW5ul5YW
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.92% Gold: -0.24% Silver: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ck2iRms5Hp
  • Heads Up:💶 ECB President Lagarde Speech due at 14:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-23
Bank of England Leaves Rates Unchanged, Sterling (GBP) Remains Supported

Bank of England Leaves Rates Unchanged, Sterling (GBP) Remains Supported

Nick Cawley, Strategist

Bank of England, Brexit and Sterling (GBP) Talking Points:

  • Bank of England leaves all monetary policy measures unchanged.
  • Quarterly Inflation Report highlights mixed inflation outlook.

The DailyFX Q4GBP Forecast is available to download.

Bank of England – Steady as She Goes

The UK central bank left all monetary policy settings unchanged Thursday – 9-0 vote and said that future interest rate hikes would be limited and gradual. The BoE said Q3 saw Q3 UK GDP at 0.6%, slowing to 0.3% in Q4 while the 2019 GDP forecast was cut to 1.7%, the same level as 2020 and 2021. In a slightly hawkish twist, the central bank added that the output gap has closed, and that the UK economy may run hot from late 2019. Wage projections rose to 2.75% in Q4 2018, 3.25% in Q4 2019 and 3.5% in Q4 2020.

Inflation projections were mixed with one-year at 2.10%, down from 2.15% at the last forecast, two-year inflation at 2.12%, up from 2.09% and three-year inflation at 2.03%, unchanged from the last forecast.

Sterling remained near its best levels of the day, aided by headlines that the EU and UK had reached a tentative agreement of financial services, a story that was later dismissed, but not out of hand.

GBP Price: Positive Brexit News Boosts Sterling, BoE Ahead

FTSE 250 Outperforms FTSE 100 on Brexit Developments

GBPUSD Daily Price Chart November 1, 2018

Sterling is up over 2 points against a slightly weaker US dollar over the last 24 hours and is back at levels last seen one week ago. The pair continue to trade below all three moving averages and will remain volatile as Brexit headlines dominate market thinking.

IG Client Sentimentdata show that retail investorsare 79.4% net-long GBPUSD, a bearish contrarian indicator. However, recent daily and weekly shifts in sentiment give us a strong GBPUSD bearish bias.

Bank of England Leaves Rates Unchanged, Sterling (GBP) Remains Supported

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

--- 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.

DISCLOSURES