|Day's Range||0.888 - 0.889|
|52 Week Range||0.8497 - 0.9108|
ECB president Mario Draghi has long been known as the king of the doves. And, as anyone trading the German DAX (GER30) or EUR crosses would attest, he directed a powerful rebuttal to the growing calls that the bank is out of ammunition to fight a future recession.
There have been arguments that traders have now pre-positioned portfolios, and happy to drift into the menagerie of central bank speakers this week.
Investing.com - The euro was holding steady on Monday after the results of European Union parliamentary elections showed that pro-EU parties held on to two-thirds of seats, limiting the gains of their euro skeptic opponents.
Data on Thursday showed that the labor market is gaining strength, even as the economy slows. Initial claims for unemployment benefits fell for the third-straight week to a seasonally adjusted 211,000, the Labor Department said.
Sterling slumped on Wednesday after reports that U.K. Prime Minister Theresa May could resign as soon as today amid Brexit chaos caused a sell-off of the pound. The U.S. is looking at similar restrictions on other companies, including Chinese video surveillance company Hikvision, according to Bloomberg and the New York Times.
The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips during the previous trading week.
It was already a terrible trading week for the British Pound thanks to the political risk circus in Westminster and Brexit related uncertainty.
The British pound remains under pressure as talks between the U.K.’s Conservative and Labour parties collapse without an agreement on how to pursue Brexit. Meanwhile, the Japanese yen finds support as trade-war concerns put renewed pressure on global equities.
The pound [s:GBPUSD] dropped Friday as chances dwindled that the U.K.'s two largest political parties can hash out a Brexit agreement. Six weeks of talks between senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal, increasing the odds for a hard break with the European Union. Prime Minister Theresa May had pinned her hopes of her leadership surviving the summer on a final vote on her unpopular Brexit deal. Hard-liner Brexiteer Boris Johnson's admission Friday that he would "of course" stand for the Conservative leadership fueled the market reaction. Labour leader Jeremy Corbyn told reporters Friday morning that talks had gone as far as they can go and his party will oppose May's Brexit proposal. Sterling traded down about 0.2% against its U.S. counterpart at $1.2764 compared to $1.2796 in late New York trading Thursday. The pair had touched a low of $1.2755 Friday. Euro-pound rose 0.2% to 0.8752 pound, earlier at 0.8755.
The Dollar Index (DXY) found comfort near a yearly high above 97.70 today, after a raft of strong US earnings in the previous session boosted confidence over the health of the US economy.
Investing.com - The economic calendar in the U.S. is busy this week, with updates due on the housing market, retail sales, industrial production and trade which will give investors fresh insights into the health of the broader economy.
Investing.com -- The euro was slightly higher against the dollar and pound in early trade in Europe on Friday, supported by signs of an economic rebound in China and reports of buying related to a big cross-border acquisition, while sterling continues to slip amid the prospect of more months of Brexit-related uncertainty.
Dovish Draghi strikes again! The Euro fell by some 0.5 percent against the US dollar before recovering some of its losses, after the European Central Bank stood pat on monetary policy on Wednesday.
Investing.com -- The euro edged higher against the dollar and was little changed against sterling in early trade in Europe on Wednesday, with two big diary events looming large over the market.
Investing.com -- The British pound is back at its highest levels in a week in early trading in Europe on Wednesday after signs of a possible breakthrough on Brexit
Even the Brexit fiasco unfolding in the U.K. has failed to take the heat off the neighboring shared currency.
The British Parliament rejected Prime Minister Theresa May's Brexit deal once again on Friday, leaving the U.K. to come up with an alternative plan by April 12. The withdrawal agreement was rejected by a margin of 58 votes. The rejection increases the chance that the U.K. will have to take part in the European elections scheduled for late May, the prime minister said in subsequent comments. Previous versions of May's deal--which she had agreed with the EU late last year--had been rejected in January and early March. On Wednesday, U.K. lawmakers voted on a range of alternative Brexit plans, none of which managed to get a majority, although the proposal of a customs union agreement came closest. The British pound in response extended its losses, dropping 0.4% to $1.3006. Similarly, the euro was up 0.4% against sterling, buying £0.8632. Britain's FTSE 100 Index was up 0.6% after the vote, while the yield on the 10-year U.K. government bonds dropped to 0.995%
The U.S. dollar on Thursday strengthens across the board against its G-10 and emerging market rivals, with bulls shaking off a cut in the final reading of fourth-quarter gross domestic product.
British lawmakers will be able to cast their vote on Prime Minister Theresa May's Brexit deal on Friday, as it was substantially different from the previous deals. May's withdrawal agreement was rejected in January and earlier in March. House of Commons speaker John Bercow then said the deal would have to be changed before Parliament could vote on it again, citing a 17th century statue. In Friday's vote, parliamentarians will vote on the withdrawal agreement but not the political declaration that was previously included. If lawmakers support May's deal, the U.K. will leave the European Union on May 22. If not, Britain has until April 12 to come of with an alternative. The British pound came off of its session-lows in response, but remains down against both the dollar and the euro . Sterling last bought $1.3072, down 0.9%.
The British pound hit its session low of $1.3070 on Thursday after the speaker of the House of Commons, John Bercow, reiterated that Prime Minister Theresa May's Brexit deal would have to be changed before it can be put to a vote again. Bercow was reiterating a previous ruling that cited a statute from the 17th century. Versions of May's withdrawal deal have been rejected by U.K. lawmakers twice before already. Parliament also rejected all alternative deals on Wednesday, after May promised to step down as prime minister if her Conservative Party supported her deal, which will be discussed in Parliament on Friday. Bercow's statement complicates the chances of the deal getting voted on. The DUP (Democratic Unionist Party), which is May's coalition partner, remains skeptical of her deal. The European Union has given the U.K. a short extension of its March 29 Brexit deadline. If May gets her deal through Parliament, the U.K. will leave the EU on May 22. If not, Britain has until April 12 to come up with an alternative. The British pound last bought $1.3074, compared with $1.3191 late Wednesday. One euro , meanwhile, fetched £0.8583, up 0.7%, also near session-highs.