Details
As Brexit talks persist, the BOE remains sidelined. And with the UK parliament prorogued, all attention is on UK PM Johnson's talks with his EU counterparts.
GBPUSD has just hit its highest level since late-July and is eyeing further gains on a combination of a marginally stronger Sterling complex and a weak US dollar.
Two weak currencies that are currently looking ahead to potentially defining moments that will provide a clear signal for both. How will they compare against each other?
GBPUSD opens the week on the backfoot as Brexit rumours and news flow continue to keep traders on the sidelines. UK data on deck with a look at monthly GDP.
Sterling remains under pressure with little scope for a sustained upside move as Brexit continues to weigh on market sentiment, while the latest batch of PMIs point to the UK economy contracting in Q3.
The British Pound slipped lower on talk that the UK government is looking to suspend Parliament from mid-September (proroguing), limiting the time that Remainers have to stop a no-deal Brexit.
UK PM Boris Johnson is off to Europe for meetings with French President Emmanuel Macron and German Chancellor Angela Merkel with Sterling traders watching events closely.
The three-month EURGBP rally continues unabated despite the EUR struggling against other currencies. GBP remains weak but the pair are currently flashing an overbought warning.
GBPUSD and EURGBP made the headlines Monday hitting levels last seen around two years ago as traders used negative Brexit headlines to hammer Sterling lower.
Current market conditions may produce a further decline in GBPUSD as retail position remains stretched, while the RSI pushes into oversold territory.
GBPUSD nears its lowest level of the week, and looks at a technical breakout, as the Boris Johnson mid-week mini-bounce fades in the face of a seemingly unmovable EU.
Sterling opens the week in negative territory as one senior Conservative MP resigns before Boris Johnson has even been elected as the new leader of the Tory Party.
UK consumer inflation picked up in June, but ongoing trade war concerns are weighing on the manufacturing industry as output price growth is at its lowest in 33 years.
USDCAD losses in recent days have coincided with an uptick in crude oil prices. Will they continue?
GBPUSD fell back below 1.2700 after recently released economic data highlighted the ongoing, Brexit-related, weakness in the U economy.
A larger than expected build in crude oil inventories is dragging down oil prices, and in turn, the Canadian Dollar.
GBPUSD prices are rallying sharply amid the last-ditch effort by UK Prime Minister Theresa May to prevent a no deal, “hard Brexit.”
Recent price action in GBP/USD raises the risk for a near-term rebound as the exchange rate fails to extend the series of lower highs & low from the previous week.
A busy UK week ahead with a variety of high importance drivers for traders to look out for.
A return into a consolidation can underpin a “false breakout,” which, if so, may mean that Gold prices may have more room to run higher.