Tuesday 22nd October: Pound hovers south of 1.30 ahead of Parliament Brexit vote
Sterling attempted to overthrow the key figure 1.30 Monday, though failed to muster enough oomph to sustain gains as further delays were put into the Brexit process.
Monday 21st October: Weekly technical outlook and review.
Sterling savoured another stellar week, notching gains in excess of 300 points and closing not too far off session highs at 1.2989. Technically, focus has shifted to supply at 1.3472-1.3204 and long-term trend line resistance (etched from the high 1.5930), following last week’s dominant push through the 2019 yearly opening level at 1.2739.
Friday 18th October: USD sellers strengthen grip and maintain position sub 98.00.
The pound remained at the mercy of breaking Brexit news Thursday, with early reports that the DUP is still dissatisfied with the draft proposals drawn up by UK and EU negotiators.
Thursday 17th October: Technical outlook and review.
Thanks to sub-standard US retail sales and ongoing Brexit-related optimism, EUR/USD bulls continued to strengthen their grip Wednesday, adding more than 40 points and recording a second successive gain.
Wednesday 16th October: Dollar index languishing around the lower end of the week’s range ahead of packed macroeconomic calendar.
Key risk events today: UK CPI y/y; UK PPI Input m/m; […]
Tuesday 15th October: US, Canada and Japan set to return after long weekend.
Key risk events today: Australia Monetary Policy Meeting Minutes; BOJ Gov […]
Monday 14th October: Weekly technical outlook and review.
EUR/USD bulls remained on the offensive last week, extending the prior week’s recovery ahead of the 2016 yearly opening level at 1.0873, a reasonably notable support/resistance.
Friday 11th October: Safe-haven demand weakens as markets respond to US/China trade developments.
Europe’s shared currency, a beneficiary of dollar softness, clocked a weekly peak at 1.1033 Thursday before mildly paring gains into the close. The dollar index, or DXY, also overthrew 99.00 to the downside in recent movement, having shrugged off mixed US data in the form of CPI and weekly initial claims.
Thursday 10th October: US and Chinese officials square off today with higher tariffs looming if negotiators fail to break a five-month deadlock.
A spike in sterling to a session high of 1.2291 materialised amid London hours Wednesday, on the back of a time limited backstop rumour. The headline, however, was later denied by EU officials, also considered non-viable by DUP representatives.
