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
Bullish
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
Bullish
Gold
Bullish
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
Bitcoin
Bearish
More View more
Real Time News
  • The $JPY continues to struggle against the US Dollar but there seems little appetite to push USD/JPY much beyond a range which has tended to reassert itself since late last year. Get your market update from @DavidCottleFX here: https://t.co/iaVfPSuXy4 https://t.co/1QPhJmYlQv
  • The #Euro may bounce after hitting the lowest level in close to three years against the US Dollar. While the broader trend points firmly lower, selling pressure may be ebbing. Get your market update from @IlyaSpivak here: https://t.co/697SQ9j5FY https://t.co/6SEvwQyod8
  • GBP/CAD has broken below the September uptrend while EUR/CAD may be ending its consecutive 12 day decline with EUR/CHF approaching key resistance as NZD/CAD aims at November lows. Get your currencies update from @ZabelinDimitri here: https://t.co/GpRB7IKhTA https://t.co/hlHlGdhkHc
  • The $GBP recoiled from chart resistance against the US Dollar, setting the stage for prices to resume a bearish trend reversal triggered mid-January. Get your market update from @IlyaSpivak here:https://t.co/lVpyZkIfJt https://t.co/9oXusxs0Kg
  • The #Euro may have more room to fall versus its major peers such as the US Dollar, Japanese Yen and British Pound. What is the technical picture of EUR/USD, EUR/JPY and EUR/GBP? Get your market update from @ddubrovskyFX here: https://t.co/M6fLA9g3BK https://t.co/HMwQgr1WP5
  • The $USD’s aggressive rise versus ASEAN currencies such as the Singapore Dollar, Indonesian Rupiah, Malaysian Ringgit and Philippine Peso prolonged. What is the technical road ahead? Find out from @ddubrovskyFX here:https://t.co/RsFptNzODf https://t.co/u8meQUSsVG
  • $AUD broke critical range support against its US counterpart, suggesting deeper losses are ahead even after prices hit an 11-year low. Get your market update from @IlyaSpivak here:https://t.co/45YpJRjDYj https://t.co/zWAzaL78Sc
  • After negotiating a series of economic and geopolitical risks in 2019, the S&P 500 rounded out the year more than 30% higher. Will the stock market crash in 2020? Find out from @PeterHanksFX here: https://t.co/8KsjB9YkBB https://t.co/4ph9bdMxz9
  • Italy reports first death from coronavirus - BBG
  • Bullish signals from IG Client Sentiment earlier this week correctly forecasted that $EURUSD could rise in the near-term. A close above 1.0852 opens the door to near-term strength while downside resumption entails taking out 1.0778 - https://t.co/YySE3VulgC https://t.co/mr7jIWtoVW
GBP/USD Volatility Spikes Amid Key Brexit Talks, NZD/USD Eyes CPI - US Market Open

GBP/USD Volatility Spikes Amid Key Brexit Talks, NZD/USD Eyes CPI - US Market Open

2019-10-15 13:15:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT –GBP/USD Volatility Spikes, NZD/USD Eyes CPI

DailyFX 2019 FX Trading Forecasts

GBP: Politics continues to drive the Pound, which trades modestly firmer after EU Chief Negotiator Barnier stated that while it will be difficult, there is still a possibility for an agreement this week. Direction in the Pound will remain headline driven in the run-up to the EU Summit with risk premium surging as option volatility spikes (GBP/USD 1-week ATM straddles at 18.4 = implied move of 258pips).

GBP/USD was largely unmoved by the UK jobs report, which showed a surprise contraction in employment (-56k vs Exp. 23k) with the unemployment ticking higher and wages dipping. Alongside this, dovish commentary from BoE’s Vlieghe in which he stated that entrenched uncertainty may require some stimulus also failed to budge the Pound.

EUR: Tepid price action in the Euro which has failed to benefit from the tailwind of Brexit optimism as key technical resistance holds in the pair. German ZEW survey showed a continued deterioration with the current conditions falling to its lowest level since April 2010.

NZD: The Kiwi is on the defensive ahead of the key NZ inflation report. Headline CPI is seen dropping to 1.4% from 1.7%, however, a reading of 1.4% would still be ahead of the RBNZ’s forecast of 1.3%.

GBP/USD Volatility Spikes Amid Key Brexit Talks, NZD/USD Eyes CPI - US Market Open

Source: DailyFX, Refinitiv

WHAT’S DRIVING MARKETS TODAY

  1. Gold Price Outlook: Setting Up for a Breakout as Trading Range Narrows?” by Nick Cawley, Market Analyst
  2. EUR/USD Price Action Setup: Critical Resistance Prevents Sharp Reversal” by Justin McQueen, Market Analyst
  3. Canadian vs US Dollar: USD/CAD Sideways Move Could End Below This Price” by Mahmoud Alkudsi, 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

News & Analysis at your fingertips.