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  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here: https://t.co/Cv06XcvldF https://t.co/I12g2YPkdE
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/KsPiWBysiR
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/iUvhLfQgcK
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here: https://t.co/ZkDHyV1VhM https://t.co/w5sPChKdNx
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/bde30KM8OE
  • The Australian Dollar remains vulnerable to most of its major counterparts, with AUD/USD and AUD/JPY resuming losses. Did AUD/NZD bottom? AUD/CAD may consolidate. Get your weekly Australian Dollar forecast from @ddubrovskyFX here: https://t.co/sjh91mjtXs https://t.co/dGT067zKnH
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  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/j5xDAG6LLb
  • While the meetings of central bankers in the US, Japan and the UK will be front, left and center of traders’ minds this coming week, it would be wise not to ignore next Sunday’s German Federal Election. Get your euro forecast from @MartinSEssex here: https://t.co/m920Uvmngm https://t.co/yQYtfHf66s
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UK Week Ahead: Brexit, US Mid-Terms and UK Q3 GDP | Webinar

UK Week Ahead: Brexit, US Mid-Terms and UK Q3 GDP | Webinar

Nick Cawley, Strategist
  • Brexit outlook looking better, UK Q3 GDP on Friday.
  • US mid-terms Tuesday/Wednesday may see a shift in the House.

The Brand New DailyFX Fourth Quarter Forecasts include a fresh look at GBP.

IG Sentiment Datashow of traders are 66.7% net-long of GBPUSD, a bearish contrarian indicator. However recent daily and weekly sentiment shifts give us a mixed trading bias.

Busy Week but Brexit Holds the Steering Wheel

In a week in which we have the US mid-term elections, the latest FOMC meeting and the first look at UK Q3 GDP, Brexit remains the dominant important market driver and trumps all other releases/events. The US mid-terms on Tuesday may have an effect on GBPUSD if they Democrats regain the House, while the Senate is expected to remain in GOP hands.

US Mid-Term Primer

UK Q3 GDP is expected to show a pick-up to 0.6% from 0.4% in Q2 but economic expansion is expected to weaken in Q4 back to around 0.2%. The latest Brexit rumours are that the EU and UK are closing in on a deal, but concerns remain around the Irish border impasse. PM May is meeting with ministers on Tuesday and there is talk that if an agreement looks likely, then an announcement will be made at the end of the week about a special EU meeting later this month.

The DailyFX Economic Calendar provides a detailed list of all major, global economic releases.

GBPUSD Daily Price Chart April - November 5, 2018

UK Week Ahead: Brexit, US Mid-Terms and UK Q3 GDP | Webinar

If you missed this webinar and would like to know about future events, you can see the full DailyFX webinar schedule here.

DailyFX has a vast amount of updated resources to help traders make more informed decisions. These include a fully updated Economic Calendar, Educational and Trading Guides and the constantly updated IG Client Sentiment Indicator.

--- 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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