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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • S&P 500 Forecast: Stocks Face Peril as Day of Reckoning Looms Link: https://www.dailyfx.com/forex/fundamental/article/special_report/2020/06/01/spx-sp500-forecast-stocks-face-peril-as-day-of-reckoning-looms.html $SPX $SPY $ES_F #StockMarket #Investing #Analysis https://t.co/sufK8mMtD4
  • #ASEAN currencies (such as SGD, IDR, PHP and MYR) are relatively outperforming the #USD at a stronger pace than the Indian #Rupee vs the Greenback. This is despite notable gains in the MSCI #EmergingMarkets Index. Full $USDINR, #Nifty piece to come later today! https://t.co/n0SlkfnYOV
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/9gFVefFC3w
  • ⬇️Asia-Pacific Preview⬇️ - Wall Street buoyancy may spill over into Asia as investors shrug at domestic unrest - AUD and #NZD could rise with APAC stocks despite HK risks - #AUDUSD blew past key resistance and may now challenge multi-week swing-high https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/06/01/AUD-NZD-May-Rise-With-APAC-Stocks-Ahead-of-RBA-Rate-Decision.html
  • 🇰🇷 GDP Growth Rate YoY Final Actual: 1.4% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇰🇷 GDP Growth Rate QoQ Final Actual: -1.3% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇳🇿 Building Permits MoM Actual: -6.5% Previous: -21.7% https://www.dailyfx.com/economic-calendar#2020-06-01
  • Trumps says he will deploy military if cities, states won't act. Says he is dispatching 'thousands' of armed soldiers -BBG
  • Trump says he recommended governors deploy National Guard, told them to deploy guard to 'dominate' streets -BBG
  • US President Donald Trump: His first duty is to defend the country, people. Instances of violence 'acts of domestic terror'. Mobilizing civilian, military resources to stop rioting -BBG
Sterling Week Ahead: Positive Brexit Sentiment Supporting GBP

Sterling Week Ahead: Positive Brexit Sentiment Supporting GBP

2019-01-21 12:39:00
Nick Cawley, Strategist
Share:

Sterling and Brexit:

  • Brexit is only 67 days away and, yet, the UK and EU are still at loggerheads.
  • UK wage data may show the UK consumer better off than last month.

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

Sterling – Off its Best Levels but Still Retains a Positive Bias

GBPUSD continues to trade around 1.2875 ahead of PM May presenting her updated Brexit bill – Plan B – to Parliament later in the session. While there are unlikely to be any major alterations – PM May is expected to go back to the EU and ask for concessions, again – the current market sentiment remains positive, based on the feeling that a No Deal Brexit is becoming increasingly unlikely. The bill, and amendments, will be debated this week ahead of a vote on January 29.

UK jobs and wages data, released on Tuesday at 09:30 GMT, is likely to show the UK consumer better off as wages continue to out-strip inflation. While the BoE remains on hold until Brexit is finalized, stronger wage growth may tip the central bank’s thinking towards tighter monetary policy.

In the Eurozone, German ZEW data on Tuesday, the ECB meeting on Thursday and German Ifo data on Friday should all be closely watched.

DailyFX Economic Calendar

Retail traders remain long of GBPUSD – 58.0% - according to the IG Retail Sentiment Indicator. See what this means and how it can help you make better informed trading decisions.

GBPUSD Daily Price Chart (June - January 21, 2019)

Sterling Week Ahead: Positive Brexit Sentiment Supporting GBP

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.

What is your view on GBPUSD – bullish or bearish?? 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

News & Analysis at your fingertips.