Even as the US Dollar presses a breakout attempt at fresh yearly highs, Gold prices have stabilized in recent days. Is the downturn over?
US Dollar strength is rolling through markets today, pushing the DXY Index to the highs seen in November and December 2018 and March 2019.
Brexit is out of the headlines for now. All of that will change next week.
Recent changes in positioning suggest that, if a triangle breakout occurs, it would likely be to the downside.
EURUSD is treading water ahead of the latest ECB monetary policy decision and the release of the FOMC minutes later in the session. Add into the mix the EU Summit meeting where Brexit tops the agenda.
GBPUSD jumped 50 ticks after media reports that German Chancellor Angela Merkel was considering offering the UK a five-year Irish backstop limit, a proposal that could help beleaguered PM May pass the Withdrawal Agreement.
The GBPUSD technical outlook is now starting to turn positive with cable back above trend and at a one-week high. Further gains may be on the cards if trend support holds.
EURUSD will be watching tomorrows cascade of key economic growth indicators out of the US and EU as both economies slow against the backdrop of rising tensions.
Gold prices got a lift as cross-currency flows weighed on the US Dollar but technical positioning continues to warn that a major top may be taking shape.
The British Pound is challenging the bounds of its 2019 uptrend against the US Dollar before yet another round of indicative Brexit votes in the UK Parliament.
British Pound volatility is likely as the UK Parliament tries to wrest away control of Brexit from the government. The Yen may rise amid renewed global slowdown fears.
The US dollar is on the backfoot after last night‘s dovish FOMC pulled the rug from under the greenback. Coming up, the Bank of England’s latest policy decision will be confined by ongoing Brexit chaos.
Sterling remains underpinned despite the ongoing Brexit shambles. The EURGBP chart remains pointed to the downside and further falls are likely.
The British Pound soared on the Wednesday‘s Brexit vote, but care is needed when trading GBP as PM May’s government is currently tearing itself apart.
The British Pound is starting to look technically overbought at current levels, but the fundamental background is mildly positive for GBP.
The British Pound continues to drift lower ahead of a pivotal Brexit week for UK PM May. Support may be tested all the way down
The British Pound remains rangebound as Brexit talks continue but Sterlings implied volatility highlights price risks for the week ahead.
The latest UK Markit services PMI beat lowly expectations, but fears remain about the near-term economic outlook as Brexit nears.
The Yen and US Dollar may rise as Fed Chair Powell stokes rate hike bets and sours risk appetite. The British Pound is eyeing comments
Even as economic data momentum has started to improve in recent days, concerns linger about the stability of price pressures and how it may impact