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
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
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
Wall Street
Bullish
Gold
Mixed
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
Bearish
More View more
Real Time News
  • A punny excerpt: “Already the exchanges between Mr. Barnier and his counterpart David Frost, have – apropos to his name – sent a chilling message about bilateral trade talks”. https://t.co/OkFCvUZs2H
  • #BritishPound May Fall on #Virus-Hit GDP Data, #Brexit Stalemate ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2020/08/08/British-Pound-May-Fall-on-Virus-Hit-GDP-Data-Brexit-Stalemate.html
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/BuFKivwj2h
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/QXaLbmFSjd
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
  • Based on how US-China tensions and fiscal talks ended this past week, is the Japanese #Yen readying to push higher ahead? Check out the latest #JPY fundamental outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/08/10/Yen-May-Rise-as-Nasdaq-100-Falls-on-US-China-Tensions-Fiscal-Woes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2Km23bVAy2
  • Tech leading the S&P 500 towards record highs, however, China risks rise. FTSE 100 hovers in a lower range. Get your #equities update from @JMcQueenFX here: https://t.co/IJAABNhxjs https://t.co/ZZ6njsuf5O
  • We are heading into the peak of summer yet there are some unexpected trends in key plays. Will complacency or fundamental instability win out? My weekend video: '#Dollar, S&P 500, #Gold - The Potential for Trend, Reversal or Congestion' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/08/Dollar-SP-500-Gold---The-Potential-for-Trend-Reversal-or-Congestion-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/7KoypvTwcL
British Pound (GBP) Latest: GBP/USD Trend Higher Continues After Jobs Data

British Pound (GBP) Latest: GBP/USD Trend Higher Continues After Jobs Data

2020-06-16 08:00:00
Martin Essex, MSTA, Analyst
Share:

GBP price, news and analysis:

  • GBP/USD continues to recoup some of its losses of late last week, although it has edged back from its highs.
  • UK labor market data showed a larger than expected increase in the claimant count measure of unemployment last month.
  • Looking ahead, inflation data Wednesday and the Bank of England’s monetary policy decision Thursday will likely determine whether the GBP/USD rally persists.

GBP/USD rally persists

GBP/USD is extending Monday’s rally in early European trading Tuesday, continuing to claw back some of its losses from late last week. That suggests sentiment towards GBP is improving despite a mixed bag of UK labor market data.

The numbers showed that the claimant count measure of unemployment rose by 528,900 in May, above expectations of a 400,000 increase. The number of people on UK company payrolls fell by more than 600,000 in April and May combined, and vacancies fell by the most on record. However, the April unemployment rate was steady at 3.9% rather than rising to 4.7% as predicted.

GBP/USD Price Chart, 30-Minute Timeframe (June 10-16, 2020)

Latest GBP/USD price chart.

Chart by IG

GBP/USD MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -9% -9% -9%
Weekly 13% -3% 2%
What does it mean for price action?
Get My Guide

Looking ahead, GBP/USD will likely persist in moving higher as long as risk appetite continues to be boosted by the prospect of continuing stimulus of the US economy by the Federal Reserve and the US government; outweighing fears of a second wave of Covid-19 infections.

Next up in UK data will be inflation numbers for May, due Wednesday. Inflation is forecast to have fallen to 0.5% year/year, down from 0.8%. Then attention will turn to the latest decisions on monetary policy by the Bank of England, due Thursday. It is expected to have raised its buying of UK government bonds in June but to have left all its other settings where they were.

Like to know how to read a forex economic calendar? Check out this article.

Starts in:
Live now:
Aug 18
( 10:08 GMT )
Recommended by Martin Essex, MSTA
Trading Sentiment
Register for webinar
Join now
Webinar has ended

We look at currencies 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

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.