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
More View more
Real Time News
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/Lxp7fJaM8Q
  • (ASEAN Tech) US Dollar Climbs Post FOMC. USD/SGD, USD/THB, USD/PHP, USD/IDR in Focus #USD $USDSGD $USDTHB $USDPHP $USDIDR #ASEAN https://www.dailyfx.com/forex/technical/article/special_report/2021/09/23/US-Dollar-Climbs-Post-FOMC-USDSGD-USDTHB-USDPHP-USDIDR-in-Focus.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/xcp3hdGaXe
  • 🇳🇱 GDP Growth Rate QoQ Final (Q2) Actual: 3.8% Expected: 3.1% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇳🇱 GDP Growth Rate YoY Final (Q2) Actual: 10.4% Expected: 9.7% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-09-23
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/9xP8YlxWSv
  • Heads Up:🇳🇱 GDP Growth Rate QoQ Final (Q2) due at 04:30 GMT (15min) Expected: 3.1% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇳🇱 GDP Growth Rate YoY Final (Q2) due at 04:30 GMT (15min) Expected: 9.7% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇹🇭 Balance of Trade (AUG) due at 03:30 GMT (15min) Expected: $0.97B Previous: $0.18B https://www.dailyfx.com/economic-calendar#2021-09-23
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/TzoInyMAQR
  • Evergrande shares jump as much as 32%, with over 240 million shares traded -BBG
British Pound (GBP) Latest: Sterling Providing Refuge Amid Market Mayhem

British Pound (GBP) Latest: Sterling Providing Refuge Amid Market Mayhem

Martin Essex, MSTA, Analyst

GBP price and analysis:

  • The British Pound and the Euro are proving invaluable for traders and investors seeking protection from the crash in stocks, oil and bond yields, and their limited recovery Tuesday.
  • That recovery is evident in the FTSE 100 index, which is rallying along with other global stock markets.

GBP/USD providing stability for investors

The British Pound is proving invaluable for traders and investors seeking relative stability amid the crash in stock markets, the oil price and bond yields, and their subsequent limited recovery.

Over the past week, GBP/USD has climbed from around 1.28 to above 1.30 but has so far proved relatively immune from the huge swings in other markets despite the approach of this Wednesday’s set piece UK Budget and the March 26 meeting of the Bank of England’s monetary policy committee, which is all-but certain to cut UK Bank Rate to 0.5% from the current 0.75% – prompting speculation that the UK Treasury and the BoE may be coordinating monetary and fiscal policy.

GBP/USD Price Chart, One-Hour Timeframe (March 2-10, 2020)

Latest GBP/USD price chart.

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

At the same time, EUR/USD reached its highest level since January 2019 before slipping back Tuesday. However, EUR/GBP – like GBP/USD – is proving relatively immune from this week’s wild market swings, staying close to the 0.87 level.

EUR/GBP Price Chart, One-Hour Timeframe (March 2-10, 2020)

Latest EUR/GBP price chart.

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

By contrast, the FTSE 100 index of leading London-listed stocks remains highly volatile, recovering modestly Tuesday after four successive sessions of steep losses prompted by the spread of the Covid-19 coronavirus and the spat between Saudi Arabia and Russia over oil output.

How to Invest During a Recession: Investments & Strategy

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

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below

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

DISCLOSURES