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
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
Bearish
USD/JPY
Bullish
Gold
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
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
Bitcoin
Mixed
More View more
Real Time News
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.40% Silver: 0.09% Oil - US Crude: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fpuNos9jTO
  • RT @bbands: Most crypto currencies are at or near Bollinger Band Squeeze levels. Time to pay attention.
  • Spot FX Update: $EUR 1.1119 $JPY 109.3505 $GBP 1.3337 $CAD 1.3182 $CHF 0.9842
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.07%, while traders in France 40 are at opposite extremes with 78.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rBitc06izt
  • Stocks in the #Dow Jones and S&P 500 are soaring alongside the Chinese Yuan as Beijing confirms trade negotiators have reached a partial deal in text with Washington. Get your market update from @RichDvorakFX here: https://t.co/v8Dy0Es2MY https://t.co/1f6xgxkXK0
  • Poll: Looking ahead to these final weeks of 2019, has the announced US-China phase 1 'deal' and UK election laying a clearer path for Brexit set global markets back on a course for sustained risk appetite (continued S&P 500 climb)?
  • @DailyFXTeam Something to note here is that PM Trudeau has pledged middle-class tax cuts (fiscal stimulus) which could dent #BoC easing bets. If his minority government can get it through, could offer a relief rally for #CAD as my majors-based index failed to breach support from 2018 $USDCAD https://t.co/oU1rEa67Wi
  • US Equities Update (Friday Close): $DJI +0.01% $SPX -0.01% $NDX +0.25% $RTY -0.57% $VIX -9.18%
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.30% France 40: 0.27% Wall Street: 0.00% US 500: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gcAsEkyGoZ
  • Trump sends USMCA legislation to Congress -BBG
GBP/USD Price Nudges Higher on UK Inflation Uptick, Brexit Latest

GBP/USD Price Nudges Higher on UK Inflation Uptick, Brexit Latest

2019-08-14 09:01:00
Nick Cawley, Analyst
Share:

UK Inflation, Brexit and Sterling (GBP) Price, Chart and Analysis:

  • UK inflation ticks higher, but Sterling remains sanguine.
  • Opposition to UK PM proroguing Parliament grows.

Q3 2019 GBP Currency Forecast andTop Trading Opportunities

Keep up to date with all key economic data and event releases via the DailyFX Economic Calendar

The latest UK inflation release saw price pressures increase marginally in July, while house price growth was unchanged from the prior month.

GBP/USD Price Nudges Higher on UK Inflation Uptick, Brexit Latest

According to the Office for National Statistics (ONS),the inflation rate increased slightly, with computer games, consoles and hotel prices rising more than they did last year. Conversely, air, international rail and sea fares did not rise by as much as 12 months ago. House price growth was unchanged overall with London annual growth again negative, for the 16th month in succession, while growth was strongest in Wales and the Midlands.

Sterling (GBP) Ignores UK Labour/Wages Data, Focus Remains Brexit

While the data remains important, the latest Brexit news continues to steer Sterling. On Tuesday, a Scottish judge fast-tracked a challenge by more than 70 MPs to stop UK PM Boris Johnson shutting down Parliament (proroguing) to prevent the House from blocking a no-deal Brexit. The case will be heard by September 6. In addition, the Speaker of the House, John Bercow, said that he would ‘fight with every breath in my body’ to stop the PM proroguing Parliament, although how he intends to do this, and the legality of the move currently remains vague.

GBPUSD trades around 1.2070, in the middle of this week’s range, with little to direct the pair. The US-China trade tariff news yesterday gave the US dollar a small boost, but it seems that markets are now firmly in holiday-mode and expected to stay that way until the end of the month.

Australian Dollar Surges on Tariff Delay, US-China Trade Talks

GBPUSD Price Chart (November 2018 – August 14, 2019)

GBP/USD Price Nudges Higher on UK Inflation Uptick, Brexit Latest

Retail traders are 76.9% net-long GBPUSD according to the latest IG Client Sentiment Data, a bearish contrarian indicator. However recent daily and weekly positional changes give us a stronger bearish contrarian bias.

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 Sterling (GBP) – 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.