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
Bearish
Wall Street
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
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
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.01% US 500: 0.05% France 40: -0.04% Wall Street: -0.05% FTSE 100: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3xlGFndr3r
  • Hey traders! I'm sure you've all heard about trend trading. Sharpen your knowledge here: https://t.co/jkliL5K8aF https://t.co/IlxjvBXh7D
  • Tune in to @nickcawley1 's #webinar at 6:30 AM ET/10:30 AM GMT to prepare for key UK events and markets in the week ahead. Register here: https://t.co/xewSeU71Mj https://t.co/tYvXalUcPJ
  • 🇿🇦 ABSA Manufacturing PMI (JUL) Actual: 51.2 Previous: 53.9 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Heads Up:🇿🇦 ABSA Manufacturing PMI (JUL) due at 09:00 GMT (15min) Previous: 53.9 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) Actual: 53.3 Expected: 53.6 Previous: 50.1 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) due at 08:30 GMT (15min) Expected: 53.6 Previous: 50.1 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 💶 Markit Manufacturing PMI Final (JUL) Actual: 51.8 Expected: 51.1 Previous: 47.4 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 🇩🇪 Markit Manufacturing PMI Final (JUL) Actual: 51 Expected: 50 Previous: 45.2 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/Z4WgszEBoh
Sterling (GBP) Brushes Aside UK Data as Brexit Takes Center Stage

Sterling (GBP) Brushes Aside UK Data as Brexit Takes Center Stage

2019-03-12 09:59:00
Nick Cawley, Strategist
Share:

GBPUSD Price, UK GDP and Brexit

  • UK data beats expectations but manufacturing and industrial production still weak.
  • GDP m/m surprises to the upside.

Q1 2019 GBP Forecast and USD Top Trading Opportunities

A better-than-expected set of official UK data prints helped underpin Sterling, but markets remain fixated on Attorney General Geoffrey Cox’s interpretation of UK PM Theresa May’s ‘legally binding’ changes agreed with the EU late Monday.

The UK economy grew 0.5% on a month-on-month basis in January, beating expectations of 0.2% growth and sharply higher than December’s negative 0.4% print. On a rolling three-month basis, the economy grew by 0.2%, the same rate seen in Q4 2018.

According to Rob Kent-Smith ONS head of GDP, “Across the latest three months, growth remained weak with falls in manufacture of metal products, cars and construction repair work all dampening economic growth. These were offset by strong performances in wholesale, IT and health services. This sluggish growth came despite the economy bouncing back from a weak December.”

UK production picked up from a dire set of figures in December but remained in negative territory on an annualised basis.

Sterling (GBP) Brushes Aside UK Data as Brexit Takes Center Stage

DailyFX Economic Calendar.

Sterling remains on edge, waiting for Attorney General Geoffrey Cox’s verdict on the UK’s ‘legally binding’ changes to the backstop, agreed between UK PM Theresa May and Jean-Clause Juncker late Monday. Sterling jumped sharply after these changes were announced yesterday but the British Pound is fading as markets wait for the legal judgement.

Brexit Latest: Sterling Soars but Brexit Bill Changes Under Scrutiny.

GBPUSD implied volatility also surged to its highest level in nearly three-years, implying a move of 163 pips in the session.

GBPUSD Technical Analysis: Golden Cross Formed, Volatility Highest Since July 2016.

GBPUSD Daily Price Chart (June 2018 – March 12, 2019)

Sterling (GBP) Brushes Aside UK Data as Brexit Takes Center Stage

Retail traders are 60.4% net-long GBPUSD according to the latest IG Client Sentiment Data, a bearish contrarian indicator. Recent changes in daily and weekly sentiment however currently suggest a mixed trading bias for GBPUSD.

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.

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.