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
Mixed
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
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
Bullish
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 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/aXSB0bG3y0
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/i342ipPuvW
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/tHp0Nb3Tr5
  • USD/JPY is bucking the trend in USD weakness, tentatively putting it on a path towards higher levels. Get your $USDJPY technical analysis from @PaulRobinsonFX here: https://t.co/RnrBCFE3gt https://t.co/hTSdTcIwZY
  • The Canadian Dollar gained with government bond yields. Might USD/CAD find its way to current 2020 lows? Canada’s benchmark stock index, the TSX Composite, faces the March high.Get your $USDCAD market update from @ddubrovskyFX here:https://t.co/0Ba8E2S7vC https://t.co/JLUTzF6xlY
  • IG Client Sentiment is warning that the S&P 500, gold prices and AUD/USD could fall ahead as upside exposure accumulates. What are key technical levels to watch for next? Find out from @ddubrovskyFX here: https://t.co/YsBypn73vy https://t.co/erPb9HMRVc
  • The US Dollar could be readying to rise against the Singapore Dollar and Indonesian Rupiah ahead. Will USD/PHP and USD/MYR also follow this outlook? Find out from @ddubrovskyFX here: https://t.co/xvMPZha5SB https://t.co/P9QLmnY1Fg
  • The Euro has been struggling to maintain its upside momentum. Is EUR/USD readying to turn lower? EUR/AUD may be aiming to rise, but has EUR/CAD topped? Find out from @ddubrovskyFX here: https://t.co/vlJM3iQIYS https://t.co/8FGl10wDto
  • Third consecutive weekly gain in the #SP500 as of today's close, rising 0.63% #Fed balance sheet gained by 0.18% over the same period after shrinking -0.06% previously Generally speaking, the size of the b/s has remained more or less unchanged for a month https://t.co/0TrEA5RGmA
  • The outlook for gold might look a little tenuous at the moment, but this won’t be the first time a strong bull market has shown signs of a potential top due to short-term price action. Get your $XAUUSD technical analysis from @PaulRobinsonFX here: https://t.co/N8a84hRnHN https://t.co/jCEkFzCxEr
Brexit Vote Unlikely to Pass, SEK Dips, Crude Oil Remains Buoyant - US Market Open

Brexit Vote Unlikely to Pass, SEK Dips, Crude Oil Remains Buoyant - US Market Open

2019-03-12 13:10:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT – GBPUSD Gains Pared, SEK Troubles Persist, Oil Remains Buoyant

GBP: Yet another volatile session so far ahead of tonight’s Brexit vote (1900GMT). GBPUSD had moved towards 1.33 throughout the Asian session after PM May had gained legal assurances over the contentious backstop. However, gains had been pared during the European morning following the legal opinion from AG Geoffrey Cox, which noted that legal risks from the new deal were unchanged. In turn, this has reduced the likelihood that PM May will get her deal across with both the DUP and ERG stating that they will not support the deal. As such, this saw GBPUSD fall to lows of 1.3000. As reminder, with GBPUSD 1-day implied volatility at the highest since July 2016, price action is likely to remain choppy. Headline risk will continue to dictate in the run up to tonight’s vote.

SEK / NOK: Inflation troubles persist for the Riksbank with the latest Swedish CPI report, falling short of expectations and the central banks forecast. Consequently, SEK is on the backfoot against the EUR and NOK with the latter also supported by the uptick seen in oil prices.

Crude Oil: Brent crude futures remain buoyant as sentiment stemming from Saudi’s pledge to provide deeper production cuts continue to support. Elsewhere, power outages in Venezuela have further crippled production in the country, consequently providing a further boost to prices.

Brexit Vote Unlikely to Pass, SEK Dips, Crude Oil Remains Buoyant - US Market Open

Source: Thomson Reuters

DailyFX Economic Calendar: – North American Releases

Brexit Vote Unlikely to Pass, SEK Dips, Crude Oil Remains Buoyant - US Market Open

IG Client Sentiment

Brexit Vote Unlikely to Pass, SEK Dips, Crude Oil Remains Buoyant - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. Brexit Latest: GBPUSD Drops as Cox says “Legal Risk” of New Brexit Deal is Unchanged” by Justin McQueen, Market Analyst
  2. Sterling (GBP) Brushes Aside UK Data as Brexit Takes Center Stage” by Nick Cawley, Market Analyst
  3. Rising Risk Appetite Boosts Stocks, Knocks JPY and US Treasuries” by Martin Essex, MSTA , Analyst and Editor
  4. Using FX To Effectively Trade Global Market Themes at IG” by Tyler Yell, CMT , Forex Trading Instructor

--- 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

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.