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  • Fed's Kashkari: - The true unemployment rate is around 9.5% - It would be great to get back to full employment by 2023 - Full employment to me is when employment and wage growth are strong enough to get to 2% inflation #Fed $USD
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.39% France 40: 0.30% Germany 30: 0.28% Wall Street: 0.09% US 500: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cTEQGqNWFV
  • $USDCHF is continuing to strengthen today, now trading above the 0.9300 level. The pair is currently at its highest point since last July after three weeks of continued strength, rising from 0.8900 in mid February to its current levels. $USD $CHF https://t.co/WCVGdCvLFq
  • Hey traders! Wrap up your week with a quick update on #NFP and more from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/zrOo2scbiE
  • US, EU said to reach deal to suspend Boeing-Airbus tariffs. $USD $EUR
  • #Silver hit a fresh one month low today. The precious metal is currently trading right around the 25.00 level, its lowest point since late January. $XAG $SLV https://t.co/DhVcp7ULYO
  • 🇷🇺 Inflation Rate YoY (FEB) Actual: 5.7% Expected: 5.5% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2021-03-05
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.06% 🇨🇭CHF: -0.10% 🇯🇵JPY: -0.11% 🇦🇺AUD: -0.41% 🇳🇿NZD: -0.41% 🇬🇧GBP: -0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/N9GeMoaLjM
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.24% Wall Street: 0.07% US 500: -0.34% France 40: -0.55% Germany 30: -0.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/XcycPxwwyi
  • Heads Up:🇷🇺 Inflation Rate YoY (FEB) due at 16:00 GMT (15min) Expected: 5.5% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2021-03-05
Market Wrap: Pound Volatility Stoked by BoE and Brexit Chatter

Market Wrap: Pound Volatility Stoked by BoE and Brexit Chatter

Katie Pilbeam, Martin Essex, MSTA,

Daily FX analyst Martin Essex talks to us about this volatile week in which Sterling has been all over the place after the Bank of England’s chief economist Andy Haldane went from dove to hawk in contrast to Mark Carney who is keen to keep Britain’s interest rate stable in these times of uncertainty. His intervention is likely to heighten tensions between Haldane and Carney considering both are members of the MPC and seem to have different views on the best economic path for the UK.

The price of oil has also had a tough week with the oversupply issue dominating the direction on the chart. But as of Friday afternoon, the price has ticked higher on confidence the world’s largest producers will stick to output cuts.

In terms of next week Germany’s IFO business confidence report will be key as well as the GFK sentiment publication. Martin explains how this could impact both the indices and the forex market. European inflation is also on the agenda and a lower figure will take the heat off of the ECB as it continues its quantitative easing program.

And as Brexit negotiations continue Sterling will be at the mercy of any noise coming from the talks between Prime Minister Theresa May and EU policy makers.

See how IG clients are positioned in GBP/USD and Oil for next week's trade on the DailyFX Sentiment Page.

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