Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]


European Open Preview – Trade hopes lift markets; pound cruises higher

Posted on January 18, 2019 at 8:40 am GMT

Stocks advance, safe-havens tumble on reports US could roll back China tariffs In the UK, sterling surges without Brexit news; sentiment is improving Today, Canadian inflation figures and Fed speakers may steal the show Stocks jump, yen softens on reports US may lift China tariffs Risk appetite firmed during the late US session on Thursday, following a WSJ report that US Treasury Secretary Mnuchin considered whether to lift the tariffs on Chinese products as a gesture of good faith during [..]


European Open Preview – Pound yawns as May survives; risk appetite shaky

Posted on January 17, 2019 at 8:45 am GMT

Theresa May survives the no-confidence vote, but sterling barely advances News the US will pursue a criminal case against Huawei are hurting sentiment Dollar extends gains versus euro as ECB officials sing a dovish tune May survives no-confidence vote, but sterling yawns Theresa May’s government survived the no-confidence motion in the House of Commons yesterday via a 325-306 vote, as was broadly expected. The Prime Minister immediately stated she will reach across the aisle and attempt to find common ground [..]


European Open Preview – May suffers Brexit defeat, can she survive no-confidence vote?

Posted on January 16, 2019 at 8:46 am GMT

Sterling recovers despite May’s Brexit defeat; no-confidence vote due today Euro inches down as ECB’s Draghi adopts an increasingly cautious bias Risk appetite stays firm; NAHB housing index today may be crucial Pound rebounds even as May suffers major defeat; no-confidence vote called British lawmakers overwhelmingly voted against PM May’s Brexit deal yesterday, with 432 rejecting the accord and 202 voting in favor, a much wider margin of defeat than rumored. The loss was so devastating that it led the [..]


UK inflation and retail sales data to get eclipsed by Brexit drama – Forex News Preview

Posted on January 15, 2019 at 1:40 pm GMT

Key data releases out of the UK are likely to once again find themselves fighting for attention amid a deepening Brexit turmoil. But although there will be bigger stories than economic indicators dominating the headlines for sterling traders over the next few days, the data could nevertheless provide some clues as to the likelihood of a Bank of England rate hike should the Brexit storm clear up. The CPI report is due on Wednesday at 09:30 GMT, while the retail [..]


European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:50 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]


Technical Analysis – GBPUSD unlocks 2-month peak; turns short-term bias to bullish

Posted on January 15, 2019 at 7:39 am GMT

GBPUSD is hovering around the two-month high of 1.2930 after it posted two consecutive green days, having broken above the 40-day simple moving average (SMA) and the descending trend line. This week the pair continues to attract buying interest, with the price climbing slightly above the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2390, around 1.2855. The technical indicators are still positive in the short-term, with the MACD stretching further above its red trigger line and the RSI moving above the 50 level with strong momentum. Furthermore, [..]


Sterling in focus as UK Parliament prepares to vote on Brexit deal – Forex News Preview

Posted on January 14, 2019 at 4:01 pm GMT

British lawmakers will hold the “meaningful vote” on the government’s Brexit deal on Tuesday evening. The accord is widely expected to be voted down, and although that may hurt sterling initially, the currency’s broader direction will probably depend more on what happens next. Overall, the biggest tail risk for the pound – a no-deal exit – seems to be gradually abating, thereby brightening the prospects for the UK currency. It’s going to be another crucial week for Brexit, setting the [..]


European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:48 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]


Week Ahead – Brexit crunch time as MPs to vote on May’s deal; inflation data to dominate

Posted on January 11, 2019 at 12:29 pm GMT

Brexit fatigue looks set to reach a climax next week as UK lawmakers will finally get their say on Theresa May’s deal. But with little chance of the deal passing through Parliament, stormy days lie ahead for sterling. On the data front, inflation will be the dominant theme, while the US housing market will also come under the spotlight, assuming the government shutdown doesn’t cause a delay to the scheduled releases. Chinese trade figures eyed China will publish its latest [..]

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