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  • No notable reaction in BTPs given that resignation from Conte has been touted earlier in order to put together a new government. Also, a resignation does not necessarily mean that a snap election will be the next step as of yet.
  • The retail speculative crowd is throwing around serious weight with GameStop today, but its appetites have been showing through with the likes of Tesla and FAANG before that. The Broader $NDX to $SPX ratio seems to similarly exhibit the charge: https://t.co/43fWH81O8S
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/oMldfyQvSy
  • AUD/USD still tracks the opening range for January amid the limited reaction to Australia’s Employment report. Get your $AUDUSD market update from @DavidJSong here:https://t.co/zrP58XUTln https://t.co/slnI0wp7N4
  • The focus will shift as to whether Conte will search for a new parliamentary majority As a reminder, PD Lawmakers noted that they would guarentee support for Conte as head of new government if he resigns $EUR https://t.co/8m5VDxfmMf
  • Italian PM Conte is expected to resign as early as Monday - Officials $EUR
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Gold: 0.13% Oil - US Crude: -0.19% Silver: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KzmYUuyoam
  • BoE Governor Bailey: - Digital innovations in payments are here to stay - Haven't yet landed on the appropriate design for a lasting digital currency - Doesn't think cryptocurrencies are lasting yet #BoE $GBP
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.16% 🇯🇵JPY: -0.02% 🇬🇧GBP: -0.11% 🇦🇺AUD: -0.16% 🇪🇺EUR: -0.24% 🇨🇭CHF: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kRlx2rPiiC
  • Mexican Peso Price Forecast: USD/MXN Above 20.00 as Bulls Break Out https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/01/25/Mexican-Peso-Price-Forecast-USD-MXN-USDMXN-Above-20-as-bulls-break-out.html $MXN $USDMXN https://t.co/oZBXOEtdwr
Forex Strategy Video: GBPUSD Ready for Volatility on Jobs Data, BoE Minutes

Forex Strategy Video: GBPUSD Ready for Volatility on Jobs Data, BoE Minutes

John Kicklighter, Chief Strategist

Talking Points:

• Interest rate expectations for the UK have swelled over the past six months and so has the Pound

• The BoE's forward guidance projected a hike in 2015, but the market expects one in 2014

• Jobs data and BoE minutes due Wednesday can give offer confirmation or negation

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The sterling has enjoyed considerable strength over the past six months on the back of robust rate expectations. Yet speculation can only go so far without fuel for the fire. With a market increasingly focused on monetary policy as a driver for economic health, capital markets and yields; the market steels itself for the simultaneous release of the most recent round of labor statistics and the minutes for the Bank of England's (BoE) last rate decision. We discuss this important fundamental theme, how the event risk can alter the sterling's bearings and the trade potential for GBPUSD and other crosses in today's Strategy Video.

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

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