|Day's Range||0.886 - 0.892|
|52 Week Range||0.86355 - 0.90095|
The pound struggled for direction Wednesday after reports that UK Prime Minister Theresa May was set to reject the European Union’s Irish border solution. The EU had suggested having more checks only in Northern Ireland, but May is expected to reject their offer, insisting that any solution must be UK-wide, The Times reported. The EU’s chief Brexit negotiator Michel Barnier previously suggested that checks would need to be carried out at British and Northern Irish ports on only one category of goods moving from Great Britain to Northern Ireland.
The U.S. dollar trades slightly weaker versus many of its rivals on Wednesday, as investors focus on turmoil surrounding the British pound, as well as China’s reiteration that it wouldn’t use its yuan as a trade war tool.
The British pound retraced previous gains and turned negative on Wednesday, following a report by The Times of London that U.K. Prime Minister Theresa May was going to reject a new offer by the European Union to solve the Irish border issue. EU chief negotiator Michel Barnier's previous comments of Brussels willingness to make an improved offer had been received positively by the market. The treatment of the border between the U.K.'s Northern Ireland and the Republic of Ireland, an EU member state, has been at the heart of the issues surrounding a Brexit agreement. May's expected rejection of the EU proposal reignited investor worries about a "no-deal" Brexit, in which the U.K. would leave the EU in March 2019 without an agreement governing its future relationship with the continent. The British pound dropped to a session low of $1.3098 following the report, compared with a session high of $1.3214. It last bought $1.3140. The euro-sterling pair had been little changed prior to the headline, but had last strengthened to £0.8889, up 0.2%, according to FactSet.
Ahead of Thursday’s Brexit summit — the latest of many high-level talks to determine the future relationship of the U.K. and the European Union — market participants are hungry for clarity, though they probably won’t get it, analysts say.
Investing.com - European Central Bank President Mario Draghi said Thursday that the central bank's monetary policy can continue on its current path of removing accomodation, even with its inflation outlook appearing to some to be lower than its mandated level.
The European Central Bank didn’t make major waves Thursday, but President Mario Draghi manages to deliver a message with a hint of hawkishness.
Today is one of the busiest days on the market in terms of the macro events in the past few months. Rates from the BoE, ECB, CPI data from US and job data from Australia. Nice, huh? In our trading, we try to reduce the risk as much as possible. We do that by, for example, not trading during those macro events. That is why, today, we will focus on DAX and WTI but if you like the thrill, here You are, the small part about the EURGBP:
The British pound shot higher against the U.S. dollar on Monday, boosted by hopes that a Brexit deal could be agreed to within six to eight weeks.
The British pound surged versus the U.S. dollar on Monday following comments from European Union chief negotiator Michel Barnier that a Brexit deal was possible within six to eight weeks, according to a Bloomberg report. The U.K. is set to leave the EU by March 2019, but investors have been worrying that no deal setting out the future relations between London and Brussels would be reached by then. The pound surged to $1.3032, compared with $1.2901 late Friday in New York. The euro-sterling pair , which is considered a Brexit bellwether, was down 0.5% at £0.8905, according to FactSet.
The British pound had a turbulent day on Wednesday, first declining and then rallying more than 1% versus the dollar as the market see a glimmer of hope regarding Brexit talks.
Investing.com - The pound surged on Wednesday following reports that Germany and the UK are set to drop key Brexit demands, while the dollar retreated from near one-and-a-half week highs on gains in sterling.
MARKET PULSE The British pound surged into positive territory on Wednesday, reversing a downtrend to rise by more than 1% against the U.S. dollar, following a Bloomberg report saying that Germany and the U.
Investing.com - The pound and the Turkish lira were pressured lower in currency markets on Monday, while the dollar remained steady against a currency basket in holiday-thinned trade.
One of the best setups at the beginning of the week can be found on the GBPUSD. The pair is on the back foot and the main reasons for that, from the fundamental point of view, are the weaker PMI number and the new comments from Mr. Barnier regarding Brexit. This comes in line with the technical analysis, which was giving us a sell signal as early as on Friday.
Investing.com - The pound extended losses on Monday after data showing that UK manufacturing activity fell to its lowest level in two years in August, weighed down by jitters over Brexit and the U.S.-China trade war.
Investing.com - The dollar rose to the day’s highs against a currency basket on Thursday, while the Turkish lira and the Argentinian peso skidded as a selloff in emerging market currencies gathered pace.
Investing.com - The dollar was holding steady near one-month lows against a currency basket on Thursday as markets awaited trade developments, while the pound remained firm after rallying in the previous session as fears over a no-deal Brexit eased.
The British pound rallies versus its main rivals on Wednesday after remarks by the European Union’s lead Brexit negotiator boosted hopes for an agreement.
Investing.com - The dollar edged lower against a basket of the other major currencies on Wednesday, as the pound rallied after comments on Brexit by European Union negotiator Michel Barnier.
Investing.com - The dollar pushed higher against a currency basket on Wednesday after hitting a one-month low overnight, but gains were held in check amid uncertainty over the U.S. trade situation.
Investing.com - The dollar extended losses against a currency basket on Tuesday, falling to one month lows as a U.S.-Mexico trade deal eased fears over a trade war, while the Turkish lira fell more than 1% against the dollar.
Investing.com - The dollar was holding steady near a one-month low against a currency basket on Tuesday as a U.S.-Mexico trade deal boosted risk appetite, while the pound was pressured lower amid continuing fears over a no-deal Brexit.
Investing.com - With another fairly light week on the economic calendar investors will continue to monitor developments on the U.S. political front after a bruising week for President Donald Trump, following the criminal conviction of two associates.
Investing.com - The dollar gained ground against a currency basket on Thursday, while Russia’s rouble tumbled on sanctions fears and the New Zealand dollar hit two year lows on a dovish sounding central bank statement.
Investing.com - The pound fell to the lowest levels of the year on Wednesday as the currency was pressured lower by growing fears over the prospect of Britain exiting the European Union without a trade deal in place.