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
EUR/USD
Bearish
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
Mixed
Gold
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
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
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.01%, while traders in EUR/GBP are at opposite extremes with 67.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/H5Xd8swRpB
  • Gold and silver are at risk of extending their slide from monthly highs as the lack of additional fiscal stimulus and rising geopolitical tensions underpin USD. Get your market update from @DanielGMoss here: https://t.co/sYF5pV9zrE https://t.co/7ISKJ2r1Ea
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.20% 🇳🇿NZD: 0.12% 🇨🇦CAD: 0.10% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.02% 🇪🇺EUR: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/heYtrV7dTD
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.61% France 40: 0.57% Wall Street: 0.56% US 500: 0.55% Germany 30: 0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qOR5cU4JZ1
  • AUD/JPY IG Client Sentiment: Our data shows traders are now net-long AUD/JPY for the first time since Sep 16, 2020 11:00 GMT when AUD/JPY traded near 76.69. A contrarian view of crowd sentiment points to AUD/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/ixxjaexZoP
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:https://t.co/nwhy3XhE74 https://t.co/5S6AARA0DA
  • Gold prices is consolidating at US$ 1,868 - its 100-Day Simple Moving Average (SMA) line. Will it hold above this key support level? https://t.co/o0BM7ABeka
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.23% Gold: -0.07% Silver: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/X6JBrsCCnF
  • While @IG_US Client Sentiment is offering a mixed outlook for the S&P 500 and #Dow Jones, these could be at risk to a turn lower based on multiple bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/9kYnq6hH1f https://t.co/bLHDVvd44Q
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.15% 🇳🇿NZD: 0.11% 🇨🇦CAD: 0.06% 🇪🇺EUR: -0.01% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/p80ihot5KY
Sterling (GBP): No Deal Brexit Warning; Does GBPNZD Offer Value?

Sterling (GBP): No Deal Brexit Warning; Does GBPNZD Offer Value?

2019-01-09 09:00:00
Nick Cawley, Strategist
Share:

Sterling and Brexit Latest

  • Parliament votes in favor of amending Finance Bill, crimping potential tax changes.
  • GBPUSD struggles to the upside, GBPNZD may offer bulls a better option.

See how our Q1 2019 Trading Forecast for GBP can help you when trading.

Learn from our Mistakes!!!- Here are some of the top lessons DailyFX analysts learned, absorbed or suffered from personal experience in 2018.

PM May Receives a Bloody Nose in Parliament

The UK Parliament last night voted in favor of an amendment to the Finance Bill, curbing the government’s tax and spending powers in the event of a No Deal Brexit. While the vote does not carry significant power, the symbolic nature of MPs from both sides of the House coming together to vote for the amendment, highlights the difficulty that PM May will face next week to pass her Brexit bill. Effectively the House has said that a No Deal Brexit is not an option and that if PM May is defeated next week, then Parliament will play a greater role in deciding the future course of Brexit.

GBPUSD Struggles to Push Higher; GBPNZD May be a Better, Bullish, Option

Sterling continues to struggle to push higher as Brexit dominates trading. GBPUSD remains sub-1.2800 despite US dollar weakness, while EURGBP trades just under 0.9000. The British Pound is stuck in a rut against other major currencies but has recouped some of its recent losses. There is a growing feeling that most of the negative Brexit news is priced into Sterling and that any agreement will produce a sharp positive reaction for the British Pound. One such pair that may look attractive post-Brexit agreement is GBPNZD. After trading at just under GBPNZD 2.0500 in mid-October, the pair fell sharply to a low of 1.8167 in mid-December before recovering to a current level of 1.8825. A 50% recovery of the sell-off would see the pair back at 1.9310.Downside protection is provided by the 20- and 50-day moving averages around 1.8800 and 1.8730 and the 23.6% Fibonacci retracement at 1.8683.

GBPNZD Daily Price Chart (June 2018 – January 9, 2019)

Sterling (GBP): No Deal Brexit Warning; Does GBPNZD Offer Value?

If you are interested in trading, or just curious about how and why market moves occur, we have recently produced a new guide – How to Start Trading: Top Tips and Guides for Beginners – to help you start your journey.

IG Client Retail sentiment data confirms a negative picture for the GBPUSD. Retail are 57.6% net-long the pair, a bearish contrarian indicator. However, recent daily and weekly positional changes give us a mixed trading bias.

What is your view on Brexit – bullish, bearish or bored?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES