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
EUR/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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/L3LPCph2ST
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/ysxKO30ZWw
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/5nHxtlZ7nn
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/lqpXwWjVFt
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/CrpXuYgfRO
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/VzEbQn8blk
  • 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/bZEFtp8kFe https://t.co/ETF52Q2sLz
  • 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/c51s3IBcEu https://t.co/AXZxK8Abrh
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/e0liqVDzw6
British Pound (GBP) Latest: EUR/GBP Easing After Surprise UK Inflation Rise

British Pound (GBP) Latest: EUR/GBP Easing After Surprise UK Inflation Rise

Martin Essex, MSTA, Analyst

GBP price, UK inflation, news and analysis:

  • GBP/USD is rising gently after an unexpected increase in UK inflation last month.
  • EUR/GBP is slipping back ahead of Thursday’s ECB meeting and a European Council summit that starts Friday to discuss an EU recovery fund.

GBP edges higher after UK inflation data

GBP/USD has been given a mild boost, and EUR/GBP is sliding modestly, after news of an unexpected increase in UK inflation in June to 0.6% year/year from 0.5% in May. Analysts polled by the news agencies had predicted a dip to 0.4% but the figure came in higher because of an increase in the price of gaming consoles during lockdown.

Meanwhile, UK consumer spending fell at a much slower rate last month as Covid-19 restrictions were eased, according to Visa’s UK consumer spending index. This report is not watched closely in the markets but GBP bulls may take heart from its finding that, on a monthly basis, spending rose a record 16.6% following an 11.2% increase in May.

EUR/GBP Price Chart, One-Hour Timeframe (July 9 -15, 2020)

Latest EUR/GBP price chart.

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

Looking ahead, the next moves in EUR/GBP will likely be determined by the outcomes of Thursday’s meeting of the European Central Bank’s rate-setting Governing Council and the European Council summit on Friday/Saturday to discuss the proposed EU recovery fund.

You can find a guide here to how the ECB’s monetary policy decisions can affect the value of the Euro

The ECB will likely leave Eurozone monetary policy unchanged but its president, Christine Lagarde, could potentially move the Euro at her press conference following the decision. Rather more important will be the attempts to reach agreement on the proposed €750 billion fund despite opposition from the “frugal four”: Austria, Denmark, the Netherlands and Sweden. A failure to agree is seen as probable but could still weaken EUR/USD and EUR/GBP.

Ahead of that, UK employment data due Thursday are not expected to move GBP, with analysts predicting a rise of 250,000 in claimants in June, down from a 528,900 increase in May.

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 on Twitter @MartinSEssex

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

DISCLOSURES