Wednesday 16th January: US dollar reclaims 96.00 to the upside.
British lawmakers rejected Prime Minister Theresa May's Brexit deal by a wide margin Tuesday. GBP fell against its US counterpart to lows of 1.2668 in a knee jerk reaction, though swiftly pared back losses to move towards flat for the day.
Tuesday 15th January: Sterling in focus as all eyes move to Brexit vote – market volatility expected.
Today is likely to bring with it robust market movement, particularly in the GBP/USD market. Three possible outcomes to today’s Brexit vote are: UK PM May wins, the PM loses by a narrow margin and the PM loses by a wide margin.
Risk warning ahead of Brexit deal vote
UK Prime Minister Theresa May brings her Brexit deal to Parliament knowing that she faces almost certain defeat in a vote that could mean weeks of perilous political brinkmanship for Britain.
Monday 14th January: Weekly technical outlook and review.
Recording its third consecutive week in the green, US equities firmly overthrew resistance at 23578 last week (now acting support), exposing resistance in the form of the 2018 yearly opening level at 24660.
Friday 11th January: Greenback remains supported ahead of 95.00, pressuring opposing currencies to lower ground.
Speculative interest remains somewhat lackluster in this market ahead of the key Parliamentary vote on UK PM May's Brexit deal next week.
Thursday 10th January: USDX Monthly supply-turned support area at 95.13-92.75 could potentially offer respite to the waning greenback today.
In recent sessions, four Fed Presidents advised moderation and caution in the central bank’s rate policy this year. In addition to this, the meeting minutes from the Fed’s December meeting also struck a dovish tone.
Wednesday 9th January: US and China narrow differences on trade; negotiations slip into today’s sessions.
The EU repeatedly stating that Brexit negotiations are not to be reopened, along with the UK government facing a defeat on the amendment to change the budget legislation .
Tuesday 8th January: US-China trade talks resume – USD weakened for a third consecutive day.
The US and China resumed talks on trade Monday in Beijing, with President Trump expressing optimism about the outcome because of the damage being inflicted by US tariffs on China’s economy.
Monday 7th January: Weekly technical outlook and review.
Friday’s non-farm payrolls widely exceeded expectations, adding 312k jobs in December compared to the 179k consensus. Average hourly earnings rose 0.4% last month, beating expectations of 0.3%, while the US unemployment rate ticked higher to 3.9% from 3.7%.
