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
Mixed
Oil - US Crude
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
Wall Street
Bearish
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
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
USD/JPY
Mixed
More View more
Real Time News
  • As we round our way towards a new week, Cable is within the confines of a bullish structure with beginnings back in September. Get your #currencies update from @PaulRobinsonFX here: https://t.co/NIbRTVmjqq https://t.co/zYma4Iq4dP
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/UGhbX6kn3H https://t.co/NE2RB1NT55
  • 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/MVwUUltt6R
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDn8ejP https://t.co/XnQzHlFsAv
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/FuLPdCLpKs
  • Elections anticipation may sabotage trend development next week, but that won't curb volatility between stimulus talks, Covid cases, FAANG earnings and 3Q GDP updates. Top of my watch list this week will be $EURUSD. My video on it all: https://www.dailyfx.com/forex/video/daily_news_report/2020/10/24/EURUSD-a-Top-Volatility-Risk-This-Week-but-Election-Anxiety-May-Keep-Markets-From-Trends.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/t14eT2SMa7
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/RfUWJdNjzk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/EzdjTZEbx2
  • The Dow Jones, S&P 500 and AUD/USD could be at risk of extending losses as retail investors increase upside exposure. What are key technical levels to watch for? Find out from @ddubrovskyFX here:https://t.co/ivQmFUTGdU https://t.co/KuIoM7g9E3
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDn8ejP https://t.co/FBT1eSZdjF
GBP/USD Outperforms, Silver Prices Soar  - US Market Open

GBP/USD Outperforms, Silver Prices Soar - US Market Open

2019-08-27 13:30:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT – GBP/USD Outperforms, EUR/USD Eyes Italy, Silver Soars

DailyFX 2019 FX Trading Forecasts

GBP: The Pound has been among the best performers with GBP/USD approaching the 1.2300 handle as optimism rises over a possible alternative solution to the Irish border issue. Consequently, following the G7 summit, the EU are reportedly open to possibly re-opening the withdrawal agreement, raising the hope for a potential deal.

Possible alternative solution

Elsewhere, the opposition to the UK government have agreed to work together in order to stop a no-deal Brexit via legislative procedures, thus providing an additional lift to the Pound.

EUR: Eyes on Italy as both the Five Star and Democratic party look to reach an agreement to form a coaltiion. However, reports this morning suggest that talks are at risk of breaking down as differences pertaining to the 2020 budget and the next PM have become the main stumbling blocks. Elsewhere, German GDP had been confirmed at -0.1% with external factors in the form of trade weighing on German growth.

GBP/USD Outperforms, Silver Prices Soar - US Market Open

JPY: Demand is notably firm for the Japanese Yen, which continues to benefit from the ongoing uncertainty surrounding the US-China trade war. The latest from the Chinese Foreign Ministry was that there had not been a phone call between the US and China on trade, going against what US President Trump had previously stated, thus the JPY remains underpinned. However, in light of recent price action, this has prompted verbal intervention from Japanese officials with the Finance Minister highlighting that they are watching market moves closely with a sense of urgency.

Silver: Prices have continued to extend gains, rising by 2% to hit $18/oz and notably outperforming gold which has only seen marginal gains of 0.2%. As such, the gold/silver ratio has headed lower, now at 85 with risks remaining tilted to further outperformance of silver vs gold.

GBP/USD Outperforms, Silver Prices Soar - US Market Open

Source: DailyFX

WHAT’S DRIVING MARKETS TODAY

  1. Canadian Dollar Price: USD/CAD Looking for a test of Multi-Weeks Low” by Mahmoud Alkudsi, Market Analyst
  2. Gold Price Rally Stoked by Trade War Fears, Silver Price Eyes Fresh Highs” by Nick Cawley, Market Analyst
  3. JPY Bulls Approaching Extreme Levels, EUR/USD Shorts Slashed - COT Report” by Justin McQueen, Market Analyst
  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