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  • Japanese Gov't recommends 2-week extension of Tokyo virus emergency - BBG $JPY
  • While the rise in yields is weighing on risk trends, carry trade didn't seem to take the hit. In fact, the charge in US yields seems to have far outweighed the de-risking from $USDJPY's perspective: https://t.co/KpOpgopOep
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.09% 🇬🇧GBP: -0.40% 🇦🇺AUD: -0.69% 🇳🇿NZD: -0.81% 🇯🇵JPY: -0.90% 🇨🇭CHF: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8Tvotykz9y
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.33% Gold: -0.69% Silver: -2.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/faJTbi16VK
  • AUD/USD now off daily lows, remains much weaker as a result of broad US Dollar strength $AUDUSD https://t.co/OkdKWbepAR
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 70.14%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XXOjh5LmaB
  • Silver price action stalls between Moving Averages. Platinum prices currently confined by Fibonacci Support. Get your market update from @Tams707 here:https://t.co/Nbl8FDmfps https://t.co/VyuZzP8w2q
  • US Markets at the Close $NDX 12464.0 -1.73% $SPX 3768.49 -1.34% $DJI 30924.14 -1.11%
  • USD/JPY stronger during trade, now pushing towards 108 level $USDJPY https://t.co/GemouFGvHF
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.02% US 500: -0.03% Germany 30: -0.52% FTSE 100: -0.53% France 40: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/jsQ36v1JJy
UK Week Ahead: Brexit and Big Data Releases | Webinar

UK Week Ahead: Brexit and Big Data Releases | Webinar

Nick Cawley, Strategist
  • Negative Brexit headlines push the British Pound lower.
  • Strong UK wages and inflation data may bring GBP a modicum of relief.

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

IG Sentiment Datashow of traders are 59.6% net-long of GBPUSD, a bearish contrarian indicator. However recent daily and weekly sentiment shifts show retail are less net-long on a daily and weekly basis, suggesting that prices may trend higher.

Busy Week with UK Wages, Inflation, Jobs and Retail Sales Releases

Sterling has started the week under pressure and lower across the board after a weekend of yet more negative Brexit deadlines with continued infighting over the shape of the deal weighing. The EU has not yet made a decision but as we stand, the odds of getting any deal signed off by the government or Parliament look slim at best.

GBPUSD Vulnerable to Larger Losses as PM May Looks into the Abyss

UK data may help underpin Sterling this week with average weekly earnings expected to pick-up further, while inflation is also seen nudging higher. UK retail sales on Thursday are also expected to tick-up from last month, which would complete a treble of mildly hawkish economic data.

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

GBPUSD Daily Price Chart (March – November 12, 2018)

UK Week Ahead: Brexit and Big Data Releases | Webinar

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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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