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
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
GBP/USD
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
More View more
Real Time News
  • The 10-day range and realized volatility (ATR) on $USDMXN are the lowest since 2008 and 2014 respectively. Breakout risk is high - when the right spark comes along (eg FOMC) https://t.co/teP1XQI7W6
  • Bitcoin taking a breather today after rallying back above $47,000. 50-day MA crosses back above the 200-day MA $BTCUSD #Bitcoin https://t.co/5Yidx9WQhc
  • AUD/USD extends the decline following the larger-than-expected contraction in Australia employment as fresh data prints coming out of the US fuel speculation for an imminent shift in monetary policy. Get your $AUDUSD market update from @DavidJSong here:https://t.co/40vc0oCeiE https://t.co/vjrF47cALn
  • Gold prices are plodding along below symmetrical triangle support, with momentum indicators starting to point lower. Get your market update from @CVecchioFX here: https://t.co/9JDAY4QlnJ https://t.co/ftL6JbIC3c
  • Ouch. S&P Global said today that El Salvador's announcement that Bitcoin was legal tender represented an 'immediate' negative credit risk to its B- standing. They warn of trouble with IMF fund access and fiscal vulnerabilities. #Bitcoin
  • 🇺🇸 Overall Net Capital Flows (JUL) Actual: $126B Previous: $32B https://www.dailyfx.com/economic-calendar#2021-09-16
  • 🇺🇸 Foreign Bond Investment (JUL) Actual: $10.2B Previous: $10.9B https://www.dailyfx.com/economic-calendar#2021-09-16
  • US equities have come under a bit of pressure recently which has played in nicely with the recent trend in the S&P 500, which has been bouncing off a key trendline support for the past year. Get your market update from @HathornSabin here:https://t.co/QIyCQJUasG https://t.co/LxuUGGY4yS
  • Heads Up:🇺🇸 Overall Net Capital Flows (JUL) due at 20:00 GMT (15min) Previous: $31.5B https://www.dailyfx.com/economic-calendar#2021-09-16
  • Heads Up:🇺🇸 Foreign Bond Investment (JUL) due at 20:00 GMT (15min) Previous: $10.9B https://www.dailyfx.com/economic-calendar#2021-09-16
FTSE 250 Outperforms FTSE 100 on Brexit Developments

FTSE 250 Outperforms FTSE 100 on Brexit Developments

Justin McQueen, Strategist

FTSE 100 Analysis and News

  • Firm GBP sees FTSE 250 Outperform FTSE 100
  • Beware as UK and EU Officials Pour Cold Water on Brexit Hopes

See our Q4 forecasts to learn what will drive price action through the quarter

Firm GBP sees FTSE 250 Outperform FTSE 100

Overnight, the latest wave of Brexit optimism stemmed from reports in the Times that the UK and EU have tentatively agreed deal on some forms of access for UK based financial institutions to European markets. This in turn has seen the FTSE 250 outperform the FTSE 100, given its larger exposure to domestic developments. While the FTSE 100 is also lagging its peers as the stronger GBP weighs on FTSE 100 profitability due to the fact that two thirds of the revenue generated from the top 100 companies are generated overseas. Typically, when GBP rises, the FTSE 100 will lag the FTSE 250.

Beware as UK and EU Officials Pour Cold Water on Brexit Hopes

In the last hour however, a UK official reportedly stated that the Times report on banks Brexit deal is “unsubstantiated”, while a senior EU negotiator has poured cold water on hopes that a Brexit deal can be reached within 3 weeks, highlighting that nothing has changed. Consequently, slight gains in the Pound have been faded, which in turn has reduced the outperformance of the FTSE 250 relative to the FTSE 100.

FTSE 250 Outperforms FTSE 100 on Brexit Developments

Source: Refinitiv. Spread between the FTSE 100 over the FTSE 250 in a 2-yr time frame, which is compared with GBPUSD, showing the effects that GBPUSD has on the performance of UK assets.

Brexit Analysis

KEY TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES