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
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
More View more
Real Time News
  • 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/Yl9vM7kO6a https://t.co/iUvhLfQgcK
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here: https://t.co/ZkDHyV1VhM https://t.co/w5sPChKdNx
  • 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/bde30KM8OE
  • The Australian Dollar remains vulnerable to most of its major counterparts, with AUD/USD and AUD/JPY resuming losses. Did AUD/NZD bottom? AUD/CAD may consolidate. Get your weekly Australian Dollar forecast from @ddubrovskyFX here: https://t.co/sjh91mjtXs https://t.co/dGT067zKnH
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/VLZQhrQTAf
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/j5xDAG6LLb
  • While the meetings of central bankers in the US, Japan and the UK will be front, left and center of traders’ minds this coming week, it would be wise not to ignore next Sunday’s German Federal Election. Get your euro forecast from @MartinSEssex here: https://t.co/m920Uvmngm https://t.co/yQYtfHf66s
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/Dqq9S9vGvo
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/lccPTTlvj0
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here: https://t.co/WIKdSesfkJ https://t.co/Fx0qr32xgI
Brexit Briefing: GBP/USD Falls on UK Election Opinion Poll

Brexit Briefing: GBP/USD Falls on UK Election Opinion Poll

Martin Essex, MSTA, Analyst

GBP price, Brexit news and analysis:

  • A major opinion poll by YouGov sees a 28-seat majority for the ruling Conservative Party in Thursday’s UK General Election, down from 68 two weeks ago.
  • A “hung” Parliament or, less likely, a majority for the opposition Labour Party could prolong the Brexit process and has led to a fall in GBP/USD.

GBP weakness emerges ahead of UK General Election

An important opinion poll ahead of Thursday’s UK General Election has raised the chances of a “hung” Parliament, with neither the ruling Conservative Party nor the opposition Labour Party winning an overall majority. The 28-seat Conservative majority predicted by pollsters YouGov, down from 68 two weeks ago, is so narrow, according to YouGov, that Prime Minister Boris Johnson could fail to win an outright majority given the uncertainties inherent in forecasting – an outcome that could delay Brexit.

The poll uses the so-called multi-level regression and post-stratification (MRP) modelling approach that is regarded by some as more accurate than conventional polls and its publication led to a drop in GBP/USD, although a clear direction for the pair is unlikely until after the exit poll due soon after 2200 GMT Thursday.

GBP/USD Price Chart, 10-Minute Timeframe (December 10-11, 2019)

Latest GBP/USD price chart.

Chart by IG (You can click on it for a larger image)

Johnson’s Get Brexit Done slogan has dominated the Conservative campaign whereas Labour is seen as less committed to the UK leaving the EU, offering to negotiate a softer Brexit deal that would then be put to the public in a second referendum.

However, doubts remain about whether even the Conservatives can negotiate a clean break with the EU by December 2020. A report in the Financial Times earlier this week quoted a Department for Exiting the EU document seen by the newspaper as saying that a new customs arrangement for Northern Ireland may not be ready in time.

Brexit Timeline – The Path Ahead

We look at Sterling regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES