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
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
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
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
Bullish
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
Mixed
More View more
Real Time News
  • $AUDJPY is down a ninth consecutive session, but the pace isn't exactly the tempo that suggests a loaded spring. Seems some of the risk-sensitivity is coming back to these wayward carry pairs https://t.co/1TKXXBricC
  • US Four-Week Bills Draw 0.075% Primary Dealers Awarded: 56.0% Indirect Bidders Accepted: 37.5% Direct Bidders Accepted: 6.5% B/C Ratio: 3.88
  • US Eight-Week Bills Draw 0.090% Primary Dealers Awarded: 56.9% Indirect Bidders Accepted: 36.9% Direct Bidders Accepted: 6.2% B/C Ratio: 3.60
  • S&P 500 Technical Outlook: Bears Challenge First Major Support - $SPX Levels- https://t.co/LWhK6JBWBZ https://t.co/VQs1vOj0h2
  • Secretary Mnuchin says he would support additional fiscal measures $SPX
  • Hey traders! Get your Thursday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/iRF2tSbRuh
  • Fed Chair Powell says the municipal finance market is working pretty well
  • GBP/USD will likely extend its recent slide caused principally by a stronger US Dollar. Get your $GBPUSD market update from @MartinSEssex here:https://t.co/izio6AVcFX https://t.co/HCGK3NEW8N
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.02% 🇯🇵JPY: -0.07% 🇨🇦CAD: -0.07% 🇨🇭CHF: -0.32% 🇳🇿NZD: -0.38% 🇦🇺AUD: -0.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pv6tWdcxqU
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -0.34% Wall Street: -0.40% Germany 30: -0.85% France 40: -1.31% FTSE 100: -1.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/m31LiWOqsh
Brexit Latest: GBPUSD Drops Amid No Agreement Between Corbyn & PM May - US Market Open

Brexit Latest: GBPUSD Drops Amid No Agreement Between Corbyn & PM May - US Market Open

2019-04-16 13:00:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT – Gold Drops as Support Breaks, EURUSD Dips on ECB Sources

GBP: This morning saw another robust UK job report with the unemployment rate hovers around a 45yr low, while wage growth is at a decade high, thus providing some initial underlying support for the Pound. However, Brexit uncertainties pushed the Pound to session lows following reports that no agreement had been reached between the government and Labour leader Jeremy Corbyn on customs union and workers rights with talks said to have stalled.

EUR: As markets wind down ahead of the upcoming market holidays, FX pairs continue remain in tight ranges. This morning’s German ZEW survey had been relatively mixed with current conditions dipping yet again, while the economic expectations component rose for the 6th consecutive month, as such, the Euro saw a muted response. However, ECB source reports did spark a bout of EURUSD selling, which briefly dipped below the 1.13 handle as dovish policymakers raised concerns over whether there would be a growth rebound in H2, questioning the accuracy of their growth forecast models, given the continued downgrade in economic assessments in recent months. EURUSD nonetheless continues to remain anchored around the 1.13 handle with immediate downside risks abating for now.

AUD: A cautious RBA saw AUDUSD retreat further away from the 0.7200 handle after the latest meeting minutes centred around scenario’s that would lead to an interest rate cut. One in particular had been a scenario whereby the unemployment rate tracked higher, consequently, increasing the importance of Thursday’s jobs report. Eyes on Chinese GDP data overnight.

Gold: The US Dollar found support on rising US treasury yields with the 10yr making a move towards 2.60%. Consequently, gold prices have come under renewed pressure with the precious metal breaking key support area at $1280-84/oz, which in turn could pave the way for deeper losses towards $1262/oz on a close below support.

Brexit Latest: GBPUSD Drops Amid No Agreement Between Corbyn & PM May - US Market Open

Source: Thomson Reuters, DailyFX

DailyFX Economic Calendar: – North American Releases

Brexit Latest: GBPUSD Drops Amid No Agreement Between Corbyn & PM May - US Market Open

IG Client Sentiment

Brexit Latest: GBPUSD Drops Amid No Agreement Between Corbyn & PM May - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. Technical Outlook for EURUSD, GBP-pairs, Gold Price & More” by Paul Robinson , Currency Strategist
  2. EURUSD Price Breaks Below 1.1300 on ECB Growth Concerns Rumor” by Nick Cawley, Market Analyst
  3. Currency Volatility: NZDUSD Volatility Highest in 2-months, CPI Report Key to RBNZ Outlook” by Justin McQueen, Market Analyst
  4. GBPUSD Price Outlook Poor Even as UK Inflation Fears Mount” by Martin Essex, MSTA , Analyst and Editor
  5. 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