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. See our updated Privacy Policy here.

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
Subscribe
Please try again
Oil - US Crude
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 US Dollar outlook against ASEAN currencies like the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso remains bullish amid capital outflows risks as Covid cases swell. Get your market update from @ddubrovskyFX here:https://t.co/vRUVxvQP8o https://t.co/cUEkW9BfIP
  • Is investing in your favorite brand or buying its products the better financial move? Read the article for a breakdown. https://t.co/iWOlDAK8cD https://t.co/0uS5VvWj12
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/PW5pCw9dKR
  • The Japanese Yen has been making a comeback, but it may soon resume its decline against the US Dollar as USD/JPY consolidates within a bullish Falling Wedge. Watch for a breakout. Get your market update from @ddubrovskyFX here:https://t.co/zxRWoNR4lS https://t.co/bXTx0TSRmU
  • BTC/USD treading water sideways, 28600 the big level to watch. ETH/USD working on forming a nice-looking descending wedge. Get your market update from @PaulRobinsonFX here:https://t.co/H1qOV4FR1P https://t.co/tjutUl7Nt7
  • Gold hasn’t been very active the past few sessions, but that could change next week and provide a stronger trading bias. Get your weekly gold technical forecast from @PaulRobinsonFX here: https://t.co/HaEe3i4Sug https://t.co/LsARS2mnFI
  • Market uncertainty sees GBP pairs break out of their ranges. Get your weekly GBP forecast from @HathornSabin here: https://t.co/IRO7a6Jv8J https://t.co/4LxWz7sOVF
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.01% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.03% 🇬🇧GBP: -0.16% 🇦🇺AUD: -0.21% 🇯🇵JPY: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AXKeEsin95
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.02% Gold: -0.27% Silver: -0.91% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/PgsZBsHHp8
  • The Canadian Dollar is poised to snap a three week losing streak against the US Dollar after USD/CAD reversed sharply off technical resistance early in the week. Get your $CAD market update from @MBForex here:https://t.co/JhO6n3Di9h https://t.co/17N1aFRUDB
GBPUSD Brushes off UK GDP Growth, US CPI May Offer Guidance

GBPUSD Brushes off UK GDP Growth, US CPI May Offer Guidance

Daniela Sabin Hathorn, Analyst

GBP Talking Points

  • Sterling fails to find support as Brexit remains as the main driver
  • US CPI key figure to watch

DailyFX Q2 Forecasts and Top 2019 Trading Opportunities.

The UK’s Gross Domestic Product (GDP) growth rate for the month of March has increased to 1.8% from 1.4%, in line with expectations.

The reaction on Sterling has been muted mostly as markets are focusing on cross-party talks around possible Brexit outcomes and the Bank of England’s hesitance towards any key rate decision until there is more political clarity.

GDP growth rate for the first quarter of 2019 is 0.5%, up from 0.2% in the last quarter of 2018. The figure is not surprising after GDP grew solidly in January and February, likely supported by companies stockpiling and making preparations for Brexit.

Manufacturing and industrial production have both beat expectations after the strong numbers reported in February meant figures for March were likely to be revised downward. The figures for Industrial and Manufacturing production for March are 0.7% (Exp. 0.1%) and 0.9% (Exp. 0.0%) respectively. Trade deficit for the month of March has come in at 5.4bn

The focus for GBPUSD traders will now shift towards US CPI figures being released later today. Yearly inflation is expected to increase to 2.1% from 1.9% in March while monthly core inflation is expected to be 0.2%, up from 0.1%.

GBP Eyes UK GDP - EUR/USD Watches EU Industrial Data, US CPI – Dimitri Zabelin, Junior Currency Analyst

GBPUSD ONE-MINUTE PRICE CHART (MAY 10, 2019)

Please add a description for the image.

EURGBP ONE-MINUTE PRICE CHART (MAY 10, 2019)

Please add a description for the image.

KEY TRADING RESOURCES:

--- Written by Daniela Sabin Hathorn, Junior Analyst

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

DISCLOSURES